LUXHUB is an API platform empowering financial institutions to take full advantage of arising opportunities within the new Open Banking ecosystem. Based on compliance and driven by innovation, LUXHUB provides the foundations for these new services.
Luxembourg-based LUXHUB is a European Open Banking API Platform service provider, offering access to, and leveraging of, customer account data. Founded by four major retail banks, it has already assisted 40 financial service providers with PSD2 compliance.
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About LUXHUB
Luxhub SA in Luxembourg is an open banking API platform for financial institutions, insurance companies, and fintechs. It offers a suite of compliance, connection and collaboration API products. The company was founded in 2018 and is headquartered in Strassen, Luxembourg. LUXHUB is featured in 2 Expert Collections.
LUXHUB’s services are based on its AIS (Account Information Services) and PIS (Payment Initiation Services) licenses obtained from the local regulator CSSF. These solutions can be leveraged by banks, but also by private corporations and public entities which wish to integrate digital, account-to-account payment solutions into their websites/apps. Using these services, companies can benefit from great exchange rates, low fees and instant payments to any bank in Europe. These services are secure and compliant, thanks to the use of federated learning. This approach allows the solution to be adapted to each customer’s context without impacting its performance. Moreover, it reduces latency and power consumption while improving the reliability of results. Ultimately, it helps to increase the trust of both the end customers and financial services companies.
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LUXHUB’s vision
LUXHUB is a developer of a common API platform. It facilitates banks to be involved in the new API economy by hosting and operating a service which helps them comply with PSD2. The company is based in Luxembourg and has been established by four major banks: Banque et Caisse d’Epargne de l’Etat, BGL BNP Paribas, POST Luxembourg and Banque Raiffeisen.
The company has a clear vision of enabling the financial industry’s transition towards Open Banking and Open Finance through innovation and collaboration. It is backed by strong investor confidence and this latest round of funding will help to steepen the company’s growth trajectory.
One of LUXHUB’s key products is FERA, a functional efficient real-time application which allows customers to aggregate and leverage their data via account information services. This is complemented by payment initiation services. The combination of these services provides customers with frictionless experiences and facilitates business management for SMEs and all other types of customers.
LUXHUB’s mission
LUXHUB’s mission is to accelerate the development of value-added Open Finance API products and services. It is based on the combined vision of its four founder banks (Banque Raiffeisen, BCEE, BGL BNP Paribas and Post Luxembourg) and their belief in the potential of the company to catalyze Europe’s evolution towards Open Banking.
The company is able to do this thanks to its AISP and PISP licences, which allow it to extend the scope of its PSD2 related services (XS2A and LUXHUB One) and expose banks and e-money institutions’ APIs as well as other value-added APIs on its Marketplace platform. This enables the collaboration between financial institutions, FinTech companies and other technological companies.
The new funding is an important step in achieving this ambition. It will enable LUXHUB to strengthen its position as a leading European fintech, supporting its growth in PSD2 compliance and beyond. It will also help to develop its API Marketplace and other value-added services.
LUXHUB’s strategy
LUXHUB has developed a platform that provides banks with the technical services they need to thrive in the Open Finance API economy. These include PISP and AISP licences, as well as a marketplace where third-party developers can offer their solutions to clients.
In addition to its API platform, LUXHUB offers compliance solutions and digital payments solutions. The company’s technology is used by financial institutions and insurance companies. The company also offers account aggregation solutions. It was founded in 2018 and is based in Strassen, Luxembourg.
LUXHUB works with luxury brands to maximize their media reach. The company’s products include AffiLux, a premium programmatic ad-serving solution, SociaLux, an influencer-marketing product, and MobiLux, a mobile marketing solutions product. The company also offers a secure international know-your-customer (KYC) service for its clients. Its clients include Hermes, Hugo Boss, Gant, NetJets, and Topshop/Topman. LUXHUB is an investor in the luxury media company Havas. The company has offices in London, New York, Paris, and Milan.
