The sixth Finance Forum Liechtenstein focused on the current challenges facing the financial sector as a result of the coronavirus pandemic. The former German Vice Chancellor and Foreign Minister Joschka Fischer emphasized the importance of the Liechtenstein financial center as a safe haven for investors.
Speaking at the event were Markus Nigg, COO of the IT consulting firm ti&m, and Günther Dobrauz, partner at PwC Legal Switzerland, who highlighted the developments in the financial sector arising from digitization. The technology experts said that established financial service providers should “take the competition from new fintech start-ups seriously and better incorporate the needs of their customers into their products and services”, according to the press release.
Andréa Maechler from the Swiss National Bank (SNB) took the same line. She pointed out the role played by technology companies and telecommunication providers in satisfying the growing customer demand for digital payment and financial services.
In his speech, the former German Vice Chancellor and Foreign Minister Joschka Fischer addressed the role of the state, which has grown during the pandemic, and the importance of international cooperation. Fischer described the financial centers of Liechtenstein and Switzerland as “stable anchors in the heart of Europe”, explaining that they have benefited from investors searching for a safe haven for their assets.
