Dominic Hale talks with Simon Tribelhorn, CEO of the Liechtenstein Bankers Association, where he shares sharp insights on competitiveness, trust and the evolving role of finance.

Geopolitical Shifts & Stability
Dominic Hale: How is Liechtenstein’s financial sector positioning itself amid ongoing geopolitical uncertainties and shifting global trade and regulatory landscapes?

Simon Tribelhorn: Liechtenstein’s position is shaped by its integrated European footprint, long-term sustainability strategy, and strong economic and economic stability. Dual access to both the Swiss and EU markets forms the core of this strength: the Swiss connection ensures currency stability, advanced market infrastructure, and deep private-banking expertise, while EU access opens a market of over 400 million clients and enables passporting across the Single Market. Together, these advantages enhance competitiveness, support diversification, and attract foreign capital seeking stability and efficiency. At the same time, the financial sector benefits from high service quality, a skilled workforce, and a regulatory environment that prioritises prudence and transparency. Liechtenstein has long aligned its sustainability strategy with the 17 UN SDGs, reinforcing its strong reputation as a trustworthy financial hub. This credibility continues to draw high-net-worth clients and international service providers looking for a compliant and efficiency-driven base.

Technology & Innovation
DH: What role do digital transformation and fintech partnerships play in ensuring Liechtenstein’s banks remain competitive on the global stage?

ST: Liechtenstein’s approach to innovation is defined by clarity, legal certainty, and responsible application. With the Trustworthy Technologies Act — the country’s blockchain law — and full MiCAR alignment, Liechtenstein offers one of Europe’s most predictable frameworks for tokenisation and digital assets. This gives banks and service providers the ability to innovate while maintaining strong security and consumer-protection standards. For the LBA, technology is valuable where it delivers concrete benefits: strengthening resilience, enhancing client experience, and supporting broader economic and sustainability objectives. Working closely with banks, fintechs, and the wider ecosystem, we explore new applications in AI, automation, and tokenisation. These initiatives rest on solid governance, the new operational-resilience requirements under DORA, and strict data-protection frameworks. The shared objective is innovation that is practical, responsible, and aligned with regulatory expectations — ensuring Liechtenstein’s banking sector stays globally competitive while preserving trust, transparency, and long-term stability.

Talent & Skills Development 
DH: The banking industry is undergoing rapid change. How is the LBA helping member banks attract and train the next generation of financial professionals?

ST: The sector faces a mix of challenges, including regulatory complexity, digital transformation, cybersecurity risks, and talent scarcity. The Association addresses these through targeted advocacy, specialised training and continuing education, harmonised guidance, and support for innovative financing tools such as blended finance. By promoting knowledge sharing, we enhance operational resilience and strengthen cyber defences, ensuring that the development of talent keeps pace with the industry’s evolving requirements.

Global Partnerships
DH: In an increasingly interconnected financial world, how does the LBA strengthen Liechtenstein’s position through cross-border cooperation with international associations and regulators?

ST: Engagement in European bodies gives Liechtenstein direct insight into how the continent’s financial architecture is evolving and highlights where agile, smaller jurisdictions can actively shape the agenda. A key observation is that competitiveness increasingly depends on coherent, cross-border frameworks in digital finance, AI, sustainable finance, and AML/CFT, as fragmentation slows innovation and creates uncertainty for clients and institutions. Equally important is the need for proportionate, innovation-friendly regulation. Smaller markets provide valuable perspectives by advocating rules that enable responsible innovation, scale impact-oriented finance, and maintain trust through strong governance and risk management. Digital interoperability, shared supervisory practices, and open market access are becoming essential pillars of an efficient, client-focused European financial sector. These insights feed directly into our domestic strategy. They reinforce our commitment to staying aligned with EU and international developments, positioning Liechtenstein as a constructive contributor to European solutions, and leveraging our agility to pilot new approaches early. Our overarching goal remains to be a credible and proactive partner in Europe and the world while shaping frameworks that allow our financial centre — and its clients — to thrive.

Client Trust in a Digital Era 
DH: With cybersecurity, data protection, and AI shaping banking, how is the LBA supporting its members in safeguarding trust while innovating responsibly?

ST: Liechtenstein adheres to both international and EU regulatory standards and consistently receives positive assessments from OECD, MONEYVAL, and major rating agencies. Privacy remains a core principle for legitimate client confidentiality, but it is applied within a strict, internationally compliant framework. This combination of strong governance and compliance ensures stability in asset flows and market access, while maintaining competitiveness through secure cross-border operations and trusted services. Building on this solid foundation, the LIFE Climate Foundation highlights the sector’s commitment to aligning financial activity with climate goals. By pooling industry resources, it supports climate research, pilots innovative sustainable-finance instruments, and helps clients transition toward lower-carbon business models. This approach reflects the sector’s view that climate risk is financial risk, and that investment and lending must actively contribute to sustainable outcomes while maintaining competitive offerings for clients.

Sustainability Beyond ESG
DH: Beyond compliance-driven ESG reporting, how are Liechtenstein banks developing authentic, long-term sustainable finance solutions that resonate with global investors?

ST: The sector is moving beyond ESG compliance toward generating measurable contributions aligned with the SDGs. The Roadmap 2025 formalises this approach by placing impact at the centre of the LBA’s strategy. Banks are not only committing to net-zero pathways but are increasingly directing capital toward initiatives that produce tangible outcomes in climate action, biodiversity preservation, and social development. Clients — both private and institutional — are driving this shift by seeking solutions that deliver real impact and go beyond labels. In response, Liechtenstein’s banks offer products and advisory approaches that prioritise measurable results and credible SDG alignment. This evolution is supported by improved data availability, stronger measurement frameworks, and new partnerships with public and non-profit organisations. The ultimate goal is to channel capital into areas where it can make a meaningful difference — benefiting clients pursuing purposeful investments while contributing to global development.

Future Vision
DH: Looking ahead to 2030, what does success look like for Liechtenstein’s banking sector, and how is the LBA ensuring its members are prepared for that future?

ST: The future of banking in Liechtenstein will be defined by trust, innovation, and the ability to deliver tangible outcomes for clients, society, and global sustainability goals. The vision is a financial centre that remains stable and internationally connected, while using technology and smart regulation to stay agile, competitive, and impact-driven. Banks are increasingly evolving from traditional service providers into partners for long-term value creation, combining strong advisory expertise with digital tools, tokenisation, AI, and transparent impact measurement. Clients will expect personalised services, seamless digital experiences, and investment solutions aligned with the SDGs — and Liechtenstein’s ecosystem is well positioned to meet these expectations. The Association plays a crucial role in enabling this transformation: ensuring international alignment with EU and global standards, fostering innovation through the expanded membership model, supporting responsible adoption of AI and digital finance, and strengthening frameworks for sustainable and impact-oriented finance. Equally important is maintaining Liechtenstein’s visibility and constructive engagement in Europe and globally. Ultimately, our mission is to ensure that the financial sector remains trusted, future-ready, and capable of turning finance into a genuine force for positive change — both locally and worldwide.