Open Banking in Luxembourg

Luxembourg transposed PSD2 via the Loi du 20 juillet 2018, with the CSSF as the supervisory authority. As a major European financial center, Luxembourg hosts numerous international banks and fund management companies that participate in the open banking ecosystem.

The country's small population but outsized financial sector creates a unique open banking landscape focused on cross-border services and wealth management. Many payment institutions and e-money companies have established European headquarters in Luxembourg to benefit from EU passporting rights.

Luxembourg's 99% internet penetration and sophisticated financial services workforce support advanced digital banking capabilities. The government's active promotion of fintech through initiatives like the Luxembourg House of Financial Technology (LHoFT) further strengthens the ecosystem.