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As part of the partnership with the National Federation of Popular Banks, we have established a schedule to launch a qualitative and quantitative study on the behaviors of young people (generations Y and Z) in financial services, and more particularly in their relationships with banks. The first phase of the study is over and offers a detailed overview of the social values of young members as well as their online behaviors, such as how they collect and process information, their beliefs about financial and banking services, their relationship with so-called “traditional” and online banks (pure players).
The study was conducted through a state of the art of academic literature and a collection of secondary data based on reports from the OECD and the OFCE in particular. The results show that their behaviors are changing rapidly and that their needs are evolving very rapidly, accelerated by the Covid-19 crisis, so that there is a growing divide between these needs and the service offerings of traditional banks.
Our recommendations underline that this divide is not exclusive to the banking sector but exists in other major economic sectors, and propose possible solutions.
Djamchid Assadi
Permanent professor at the “Digital Management” department, responsible for the research project
Yann Truong
Permanent professor at the “Digital Management” department, responsible for the research project
A behavioral study on consumer mobility
Since 2021, the Laboratory for Experimentation Social Sciences and Behavior Analysis (the LESSAC) of the Burgundy School of Business and Management School of Business, has been conducting a study in experimental economics financed by the Keyros Fund. This study, carried out by students of the Master MSc Data Science & Organisational Behaviour, and supervised by Angela SUTAN, Director of LESSAC, and Jean-Christian TISSERAND, research professor, aims to determine the preferences and needs of consumers in terms of means of travel and automotive equipment according to their age group.
This unique study uses the methods of experimental and behavioral economics aimed at avoiding as much as possible the cognitive biases of the study participants in order to accurately understand and anticipate the needs of consumers. This first year, the students identified all the works of the experimental literature relevant to the conduct of this study and carried out a questionnaire administered in September. The results of this study were presented in early February to the President of FIEV and to the President of the Keyros Fund.
Jean-Christian Tisserand
Permanent professor at the “Experimental Economics” department, responsible for the research project
A winning and winning partnership
The partnership with KPMG Luxembourg was initiated as soon as the Audit-Expertise-Consulting sector was created in 2007. In addition to financial support, it allows students on the course to benefit from interventions by the firm throughout the year.
The objective of this collaboration is to promote knowledge of a key sector of the economy that promotes transparency in financial information, integrity and professional judgment, and to develop the image of the audit profession among students.
To do this, the KPMG Luxembourg firm intervenes during occasional visits that allow students to obtain contacts to successfully integrate professionally in the form of short or long-term internships and then recruitment:
- The Pre-Masters of the sector participate in an integration day where KMPG presents its structure, the Audit professions and runs motivational interview simulations, a real support for integration into the labor market.
- Master 1 students work on Business Cases that make the problems encountered in the field more concrete.
- The Master 2 students, for their part, attend courses given by two partners of the firm, Stephan LEGO-DEIBER and Fabien HEDOUIN, on IFRS and professional judgment.
KPMG Luxembourg is also present at the Audit Firm Career Day and at the Business Forums organized by the School.
Thanks to the sponsorship put in place since 2019, a win-win partnership, BSB thus offers its students a close proximity to KPMG Luxembourg, and at the same time facilitates the targeting of interesting profiles — all this, in the end, for the benefit of employment.
It is important to discover the sector, to promote it and to communicate about these professions, which may have an outdated image among students.
Candice Pellegrin
Coordinator of the Audit - Expertise - Advice course
A personalized room
The Luxembourg firm wanted to sponsor a complete BSB classroom, personalized in the colors of the KPMG brand. The aim is to strengthen the link with all students at the School, and not only with those from the AEC field.
Today, working alongside BSB Alumni at various levels of the hierarchy and continuing to recruit new talent from the school is fully in line with KPMG's strategy, namely: investing in human capital.
KPMG Luxembourg, which now has more than 1,800 employees, pays particular attention to surrounding itself with talents with an entrepreneurial spirit because KPMG's greatest asset remains its employees and the added value they create.
Over the years, we have been able to observe and assess the quality of BSB students, who, beyond academic background, have begun to develop key skills to successfully evolve in our professions alongside our customers.
With solid business and analytical skills, these students are therefore well prepared to face the challenges our firm faces. It should also be noted that their Master's programs offer excellent training and practical experience in the fields of auditing, consulting, finance, economics, management, and marketing. It is for all these reasons that we continue to write this story together and that promises to remain promising for the future.
Stephan Lego-Deiber
BSB'03, Partner, IFRS Leader at KPGM Luxembourg
As soon as I started to be interested in auditing, Big4 immediately aroused my interest and especially KPMG thanks to the partnership between KPMG Luxembourg and BSB, I was able to receive a lot of advice from auditors concerning the audit sector or my professional career, which increased my attractiveness for this field. I then had the opportunity to do my first gap year internship at KPMG Luxembourg. This internship is fundamental because it allows me to take my first steps in the financial audit sector. It is also a great opportunity for me to improve my English and to discover new cultures.
When I arrived at BSB and joined the Audit Expertise Conseil (AEC) program, I had no idea what auditing was. Very quickly, the interventions of KPMG Luxembourg within the School gave me a much more precise idea of the field of audit and the future prospects specific to this field. These interventions allowed me to define a major part of my career at BSB with very good opportunities.
Bloomberg trading terminals are a tool in the modern financial system that provides historical and real-time data on publicly traded companies, financial products and markets, and financial news.
Having the Bloomberg scholarship is crucial for students of the MSc Corporate Finance & Investment Banking (CFIB) and the MSc Climate Change & Corporate Finance (CCCF).
First of all, the Bloomberg terminal offers the possibility of acquiring the globally recognized Bloomberg Market Concepts (BMC) certification in the trading room free of charge. This certification represents an asset on the CV of our students for their professional integration.
Second, many of the subjects in these two MSc programs use Bloomberg as a teaching tool. In these MSc programs, students will learn how to use Bloomberg data to report on stocks, create and monitor trading portfolios, study a company's financial statements, track the issuance of green bonds by a company, and more.
The Bloomberg trading room has become an indispensable element for MSc CFIB and MSc CCCF students.
Dr. Phan Huy Hieu (Henry) Tran
Associate Professor at the Department of “Accounting, Finance and Law”
Nicolae Stef
Associate Professor at the Department of “Accounting, Finance and Law”
As a student, the Bloomberg room provided me with fundamental practical financial skills. These skills are difficult to acquire and to impart in the normal classroom environment. The trading room therefore played a fundamental role in developing my financial knowledge. The application and recognition of the theoretical knowledge studied in class proved to be very satisfactory and reinforced my motivation to follow the modules. Extracting data from Bloomberg with my team members for a specific project wasn't always easy, but it put us in a real work environment. The discovery of new functions and the endless possibilities offered by this platform stimulated me to continue learning outside of the classroom. In addition, the acquisition of the Bloomberg Market Concepts (BMC) certificate is a real asset in the creation of my resume.