The pandemic forced many businesses to rethink and accelerate their digitization strategies. What was it like for the fund industry? Which was the main change you noticed?
The digital area of the fund industry has not really started yet, but we see two main drivers which will foster digital transformation. Recruiting specialized staff is undoubtedly one of the main challenges of the industry. Creating digital strategies allows companies to lift potentials and raise productivity to finally stay competitive and serve their clients successfully.
Beyond the financial aspect a poor workflow management inevitably has, could you further explain the impact it may have on empowerment and overall efficiency?
Standardized Workflows simplify every repeatable business process.
Workflow management is important because it helps teams to manage, assign, plan, and execute tasks efficiently, to finally free up time. When we standardize and optimize workflows for our clients, we improve productivity and keep employees more engaged as we empower self-management and eliminates roadblocks. With solutions like Fundvis, the likelihood of mistakes and delays goes down significantly.
Although it offers a wide range of benefits, digitizing workflow management is not all about convenience though. According to you, which are the main challenges ahead?
Without an outstanding UX, tailored to the user group, every workflow management tool is doomed to failure. The challenge is therefore not of a technical nature. Tech issues can always be solved! The central challenge is to understand the customer in the best possible way and tailor a solution perfectly fitting his needs.
You were selected to join the Summer 2022 edition of the CATAPULT: Kickstarter program and recently won the pitch battle at the Digital Finance Summit in Brussels, what difference does such a recognition make for a young startup like yours?
As a young startup, we are incredibly happy about this visibility and recognition. Participating in programs and pitch events allows us to create and grow new networks and challenge our product market fit with industry experts. But even more important, it is incredibly enriching to exchange ideas with other founders about their journeys.
Why settle down in Luxembourg? How could it help you to achieve your business goals?
Luxembourg is the perfect location for fintechs with a focus on the fund industry.
The fund industry is the heart of the local financial industry and attracts companies from around the world. There exist great connections between the fintech and the financial communities. Organizations like the LHoFT or Luxinnovation are very supportive. They provide dedicated knowledge on all questions for running a successful business in Luxembourg and offer access to the right networks and partners.
