Digitalisation in Banking - Driving the Digital Transformation of your Bank

Digital disruption is having an increasing impact throughout all industries and Banking faces challenges from all sides in these trying times. This programme aims to be a transformative journey and provides a solid introduction to digital and transformation frameworks from first principles. We will approach digital from a number of different perspectives along theoretical and practical approaches.

This programme goes beyond theory, providing practical frameworks to understand and navigate this digital revolution.

This seminar dives deep into the transformation of banking. We'll explore how open finance, banking as a service (BaaS), and platform banking are revolutionizing the industry. We will also discover how traditional institutions are adapting to an “uberized” landscape, and what the future holds for the "Bank of Tomorrow."  

Together, we will explore the evolving world of finance and how digital innovation disrupts banking and traditional banks.

We will focus on the changing dynamics for then Banking sector.

The world of finance is indeed undergoing a seismic shift. Digital innovation is disrupting traditional banking models, driven by factors like:

• The digitization of financial products and services
• Evolving customer demands for seamless experiences
• New regulations shaping the competitive landscape of open finance

We will understand that any bank committed to undergoing this transformation will have to modernise its tactics and embrace technology. Replacing legacy systems alone is not enough; stepping on the digital transformation path marks a fundamental disruption of the banking business model, culture and customer relationships.

This one-week training programme will equip you to navigate this digital transformation, as in this new era, banks can no longer afford to operate in silos.

You will learn how to interact and collaborate effectively with Fintech partners and others within an open financial ecosystem.

This training will present the tools and strategies to:

• Develop a future-proof banking strategy
• Foster a culture of innovation and collaboration
• Thrive in the open and interconnected world of open finance

This immersive program will be your launchpad for shaping your bank's strategy and ensuring its success in the digital age.

Day 1:  The seminar will commence with an examination of upcoming trends and challenges that will impact the digital transformation of banking. Participants will gain a thorough understanding of Luxembourg's financial center, its evolving regulatory framework, and the increasing significance of data protection. The day will conclude with an exploration of how customer-centricity will reshape banking strategies in the digital era.

Day 2:  Participants will split into two groups. Groups will alternate between morning and afternoon sessions and will participate in a series of workshops designed to cultivate an innovation mindset and equip them with leadership skills essential for the digital transformation of their banks. These workshops will be led by renowned experts in the fields of behavioral analysis, information technology, and digital transformation. They will  also delve into the critical realm of cybersecurity through a simulated cyberattack experience. This interactive session, conducted by the Luxembourg House of Cybersecurity, will provide participants with valuable insights into the evolving cybersecurity landscape and equip them with the knowledge to defend their institutions against cyber threats.

Day 3:  The focus will shift to the future of banking, exploring how cloud computing, data management, and AI will empower financial institutions. Participants will gain insights into the impact of these technologies and examine cutting-edge customer-centric digital banking solutions that are being developed.

Day 4:  This day will delve deeper into critical aspects of cybersecurity, regulatory compliance, and risk management within the evolving digital banking space. Participants will gain a clear understanding of data protection, cybersecurity fundamentals, and how to navigate the ever-changing regulatory landscape.  The session will also analyze the distinctions between traditional banks, online banks, and neobanks within the context of open finance.

Day 5:  A global perspective on the ever-changing FinTech landscape will be presented, exploring emerging concepts such as Decentralized Finance (DeFi) and Central Bank Digital Currencies (CBDCs).  Interactive sessions will provide a platform to explore collaborative strategies between traditional banks and innovative FinTech players.  The day will culminate in a workshop where participants will apply their learnings by developing and presenting FinTech solutions specific to their institutions.

The approach of this 5-day seminar will be academic, practical and interactive at the same time, offering a mix of theory, practice, lectures, group discussions, workshops, visits and an immersive cyber-attack simulation experience.

You will be guided by highly qualified and experienced professionals from reference institutions in Luxembourg Digital sphere such as the Luxembourg House of Financial Technology (LHoFT); the National Commission for data protection (CNPD), LuxHub (Innovative Fintech solutions in Open Banking), Luxembourg House of Cybersecurity (LHC)  and many more. This program also counts with the participation of experts from the benchmark institution of the Luxembourg financial sector, Luxembroug for Finance, LfF. 

• Bank Executives and Senior Management: This includes CEOs, CTOs, CIOs, and other senior leaders responsible for strategic decision-making in banks. They will benefit from understanding the impact of digital transformation on business models, identifying growth opportunities, and guiding their organizations through the transformation process.

• IT and Technology Executives working in IT and digital innovation teams. They will benefit from learning about the latest technological advancements, best practices in implementing digital solutions, and managing IT infrastructure during the transformation journey.

• Customer Experience Professionals responsible for customer engagement and experience design. They will benefit from understanding how digital transformation can enhance customer experiences, and leverage data analytics for better customer insights.

• Business Development and Product Managers: This includes professionals responsible for developing new products, exploring partnerships, and identifying growth opportunities within banks. They would benefit from understanding emerging trends, disruptive technologies, and innovative business models that can be leveraged for sustainable growth in the digital era.
  

• National Commission for data protection (CNPD)

• LuxHub (Innovative Fintech solutions in Open Banking)

• Luxembourg for Finance (LfF)

• Luxembourg House of Cybersecurity (LHC) 

• Luxembourg House of Financial Technology (LHoFT)