How to strengthen the FinTech sector in Belgium?

Details

Supervisors

Traversa, Edoardo

Faculty

Louvain School of Management

Degree label

Master [120] en sciences de gestion, à finalité spécialisée

Abstract

The development of new digital technologies combined with their widespread dissemination and adoption by companies, public institutions, and the population has caused significant disruptions in the economy worldwide. In the financial sector, this technological revolution has been associated with the emergence of FinTech companies. Some cities, regions, or even countries have clearly understood the interest of nurturing and growing an economic cluster around FinTech companies: they have acted more proactively and decisively than others to put the right infrastructure, incentives, and regulations in place. Unfortunately, in all the international FinTech rankings, Belgium does not belong to the first-tier clusters despite substantial existing assets. This thesis aims to research why Belgium does not come up at the top in the global or European rankings and what could be done to transform Belgium into a leading cluster for FinTechs. To that end, we follow a three-step approach (overview of the industry, cross-country comparison, and action plan), leveraging primary (including 28 interviews), secondary research and a set of change management practices. The end-product of our thesis, i.e., our proposed portfolio of initiatives, should be seen as a first draft to engage meaningful conversations with interested protagonists of the FinTech sector in Belgium.