The Luxembourg House of Financial Technology Foundation (LHoFT) and State Street Corporation (NYSE: STT) announced today a collaboration to address FundTech and RegTech challenges and opportunities.
State Street is the thirteenth member of the LHoFT Foundation, joining the other distinguished members of the LHoFT’s Leadership Circle: BCEE, BGL BNP Paribas, Clearstream (Deutsche Börse Group), Deloitte Digital, Foyer Group, KPMG, POST, PwC, Six Payment Services, Société Générale, Telindus (Proximus Group) and Temenos.
The collaboration with the LHoFT Foundation is a natural extension of State Street’s history of innovation and will focus on exploring the FundTech and RegTech landscape, how these themes are impacting the financial services industry and the solutions that can be derived.
“We welcome the innovation leadership that State Street is demonstrating by partnering with us to help align their business with the world of tomorrow.” – Nasir Zubairi, CEO of the LHoFT
“This is an exciting new initiative that will enable us to more deeply explore emerging technologies within the FundTech and RegTech landscape and the impact on our businesses and our clients,” said David Suetens, executive vice president and country head of State Street Luxembourg. “Luxembourg is becoming synonymous with technology innovation, with numerous FinTech players establishing here. This partnership is a true testament to our history of innovation and our commitment to provide innovative solutions for our clients complex asset servicing and solution needs.”
Nasir Zubairi, CEO of the LHoFT added: “We are thrilled to welcome State Street, one of the world’s leading providers of financial services, as the thirteenth member of our Leadership Circle. Luxembourg is the 2nd largest fund management centre in the world after the US, and thus both RegTech and FundTech are strategically important areas of focus in Luxembourg. We welcome the innovation leadership that State Street is demonstrating by partnering with us to help align their business with the world of tomorrow.”
The LHoFT Foundation and State Street will share the Short and Sharp Stage at the ALFI Global Distribution Conference on 20 September, discussing aspects of State Street’s latest thought leadership report, “A New Climate for Growth: Cultivating Asset Intelligence to Thrive.” This will be an interactive session about the future of digital distribution.