The National Research Fund (FNR) of the University of Luxembourg has signed a Memorandum of Understanding (MOU) with PayPal Europe for the creation of the FNR PEARL Chair in FinTech.
The chair will be established at the university’s Interdisciplinary Centre for Security, Reliability and Trust (SnT), and jointly funded by the two parties over a period of five years, in a deal that Prime Minister Xavier Bettel helped to secure.
The Luxembourg government hopes to position the country as a world leader in the field of innovative digital financial services and to make it one of the most important centres for financial technologies. Promoting closer cooperation between the private and public sectors is part of the government’s strategy for accelerating the process.
The purpose of the new PayPal - FNR PEARL Chair is to demystify digital technologies and rethink the connections between regulators, industries and users.
Minister Bettel welcomed PayPal’s decision to invest in Luxembourg’s future in FinTech.
"PayPal's decision to invest in research in Luxembourg is an important step in our collaboration with PayPal and a testament to the academic excellence of our university. By co-financing the PayPal-FNR Chair in Digital Financial Services, PayPal is investing in the future of our university and the future of our country.
“With PayPal, we have found a renowned partner to help create an international FinTech centre of excellence within the University of Luxembourg,” he said during the signing ceremony at the hotel de Bourgogne.
Norbert Becker, chairman of the supervisory board of PayPal Europe, hailed the opportunity for creating progress through technology.
"Technology is changing the lives of consumers and businesses around the world. This is even more true of financial services, where the FinTech revolution brings growth and new opportunities for millions of people and businesses. PayPal works with public policy makers and regulators to show how financial services sector technologies can garner innovation, economic opportunities and participate in consumer protection, a policy objective.
Luxembourg has been the European headquarters of PayPal for 10 years and we are delighted to become a partner of the National Research Fund and the University of Luxembourg to create the PayPal-FNR PEARL Chair in digital financial services. This partnership supports the Luxembourg government's goal of making it a world leader in innovative financial services,” he said
Image: Norbert Becker, chairman PayPal Europe, Rupert Keely, CEO PayPal Europe, Marc Schiltz, SG FNR, Xavier Bettel, Prof. Dr. Massimo Malvetti, SG University of Luxembourg, Véronique Hoffeld, president of CA of the FNR, Ludwig Neyses, vice-rector of the University of Luxembourg, Gérard Hoffmann, management advisor for the University of Luxembourg, Yves Elsen, president of the board of governonrs of the University of Luxembourg. © ME
