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In the first survey of its kind since the pandemic began, forty-three Luxembourg financial institutions have shared their experiences of the impact of COVID-19 on their businesses. The primary research, conducted by the Digital Banking and Fintech Innovation Cluster of the Luxembourg Bankers’ Association and KPMG Luxembourg, covers the main phases of crisis response: Reaction Resilience (short-term impact), and Recovery New Reality (plans and expectations for the medium-term).
Jean Pascal Nepper, Head of Consulting at KPMG Luxembourg, explains: “Financial institutions in Luxembourg, like many other companies, have been significantly impacted — being required to comprehensively change the way they operate and organize themselves, almost overnight, in order...
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