Digital technologies are changing the face of society, including how our financial services work.

Given how deeply digital technologies affect financial services, online payment platform PayPal, Luxembourg's National Research Fund (FNR) and the University of Luxembourg are launching a partnership, titled "PayPal-FNR PEARL Chair". The chair was presented on Monday.

The entire programme will be led by Professor Gilbert Fridgen. As of January 2020, Fridgen and his research team will examine financial services in a digital environment in detail. The team will analyse processes, as well as accompany and structure them.

As Fridgen explained, the team will focus on new technologies, artificial intelligence, and the Internet of Things, putting a special focus on Blockchain and distributed ledger technology. He told attendees on Monday: "I will endeavour to find out what these technologies mean for the economy and for firms working in financial services." 
Fridgen explained the dual purpose of examining what changes exist and also how to structure these changes and imagine how our world will change thanks to these technologies. The University of Luxembourg researcher is an expert in the domains of Blockchain, system technology, and IT platforms. Previously, Fridgen has worked as an adviser for German ministries and has worked at the Bundestag.