The Liechtenstein financial centre is focusing on sustainability and digitalisation. Thanks to its stability and access to the European single market, it considers itself well positioned for the coming years, as evidenced at this years Bank Day.
The praise came from an unexpected quarter. Liechtenstein offers both a unique level of stability and access to the European single market, said Alistair Lukies, head of the British fintech association Innovate Finance and advisor to the British prime minister in fintech matters, on the 9th Bank Day in Vaduz.
Lukies also highlighted Liechtensteins AAA rating from Standard & Poors. He added that one of the countrys strengths lay in its innovative regulation of the financial market, with it already implementing fintech solutions across the whole banking sector.
Adolf Real had a similar view. The Liechtenstein financial centre has seldom been as well positioned as it is today, said the departing president of the Liechtenstein Bankers Association. The balances are good and new money is flowing, while the financial sector has regained trust and is creating jobs again, he said. He added that the strong private banking sector could be extended. Now, he said, Liechtenstein must work on presenting its strengths abroad, including with greater participation in international bodies.
The financial centre is focusing on the two game changers of sustainability and digitalisation, according to Simon Tribelhorn, director of the Bankers Association. Digitalisation breaks down national borders, while the trend for meaningful investments is growing, he said. Meanwhile, the financial centre is receiving backing from the government.
Sustainability and innovation are the most important challenges facing the financial centre today, said prime minister Adrian Hasler in his opening speech. But innovation does not make any sense unless it is based on sustainability.