Mr. Ralph, Please share how you and your team became aware of the Covid medical crisis and the initial first steps you took to protect the company and the employees?
RFA is a global business, so we tracked the crisis as it moved around the globe, constantly learning and at pace. Because of the services we offer as a fully outsourced IT solution, we worked to get our clients safe and protected at the same time as we were working to do the same for our teams globally. Most firms were relying on their IT to continue operating while also staying within government guidelines, so we had a responsibility to both our own teams and clients.
How has business demand from your customers changed during the crisis period?
Many of our clients embraced fully remote and hybrid working almost overnight. This meant some had to make rapid changes to their current office setups to manage their business continuity for day-to-day deal flow. However, they also had to manage the protection of their data in a form that could potentially be less secure, with teams working from homes and satellite offices all over the globe. The rapid change to remote working increased the number of endpoints or devices connected to a network massively overnight. Without the help of an appropriate IT provider, ensuring an excellent cybersecurity setup would have been very difficult, leaving firms open to attack.
What adjustment to physical working schedules and conditions, and what health and safety measures have been implemented to ensure your employees’ physical safety and health?
Most notably, this was through social distancing and remote working. Our teams worked remotely in the first instance, and then we implemented an office whereby only a certain number of staff could come in at any one time. We even built an app so people could book in space and see that working from the RFA office or a client office was safe. Our engineers still needed access to client offices to manage networks and servers, so it was vital for us to keep communication open all the time. This meant we could manage the work and the safety of our team effectively, even globally, where each jurisdiction had different guidelines in place.
What challenges do you face now that the economy is recovering, and how is this “new normal” the same or different from the old normal?
This is most profound in the world of work which has drastically changed. This is not just for us as an IT provider but also for all our clients in the finance sector. Infrastructure has changed as a consequence of the hybrid working approach. This has come a long way from the old way of working, whereby every task was carried out securely behind a firewall. Data security has to be controlled in the remote workspace for our clients, their clients and their employees. I don’t believe that the world of finance will ever return to full-time office work. We have certainly left it open for our teams to work remotely or from the office, depending on their preference.
Would you like to introduce yourself to our readers and explain the activity of RFA?
I am George Ralph, Global Managing Director and CRO of RFA. I have been in the Technology Industry (a cyber auditor) for over 24 years. RFA is the trusted technology partner to the financial services industry, with over 800 alternative investment clients, including Hedge Funds, Private Equity firms, Fund of Funds, Family Offices, and Wealth Management firms. We have a global presence and a pedigree of more than 30 years. We specialize in providing ‘white glove’ and best-in-class services from application & infrastructure strategy to risk management and cybersecurity, data management and core global IT support services.
The business operations of our clients require the highest level of pro-active service and as such, their needs command a high touch partner to support their competitive edge. We understand the specific challenges our clients face and have developed a suite of services that answer the most pressing operational issues, including flexible, high quality IT support, fully managed IT, public cloud solutions, communication and collaboration services, next-generation cybersecurity solutions as well as managed application, data, and development services.
Please share with our readers why you decided to establish your business in Luxembourg?
Luxembourg is a true leader when it comes to the financial, technological, and sustainable sectors. This is evident in the way that the government supports business and the ecosystem that exists in the country. In addition to this, Luxembourg is attractive for international business as 94% of the banks in Luxembourg are foreign and ⅓ of them come from outside the EU. Aside from many of our global clients having offices in Luxembourg, We want to be a part of this climate. We also believe in our advanced and holistic approach to business. IT brings a new approach to firms in Luxembourg, which we believe we can support fully and effectively.
Based on your experience, please assess Luxembourg’s attractiveness (plusses and minuses) as an international business location?
A huge positive is the international exposure the country has. Jobs here are also occupied by a highly skilled and talented workforce. Luxembourg is at the forefront of ideas and innovation. In addition to this, another positive is the country’s commitment to sustainable projects, notably through The Luxembourg Green Exchange, the world’s first platform dedicated entirely to sustainable securities.
In terms of minuses, which is mainly due to the pandemic, is the incapacity to have regular one-on-one meetings with clients in the country. This face-to-face time is so valuable, and this has been a huge loss during Covid 19. I am confident, however, that this is already changing, and people will soon be comfortable in a face-to-face environment again.
Are you optimistic or pessimistic about the future, and why?
We are positive about the future. While the events in the world are bleak at the moment, we believe that after every difficult period, comes light and better times. We are resilient and are able to adapt; this has been proven in the pandemic through the introduction of new services and solutions to overcome challenges. Technology has advanced at a pace like never before over the last 24 months, leading to some exciting developments that are starting to change the way we work. We are excited about the future of tech and how RFA can support our customers on the digitization journey.
How has business demand from your customers changed during the crisis period?
If anything, business has increased for us in that many of our current clients needed some additional guidance and support with business continuity, cybersecurity, data and public cloud services. We have also started working with a number of new clients who didn’t feel they got the help they needed from their incumbent IT provider at the start of and during the pandemic and were looking to work with an experienced firm like RFA.
Please assess Luxembourg’s attractiveness as an international business location. Going forward. What are your perceptions of Luxembourg’s perceived Strengths and weaknesses?
We believe that Luxembourg is the number one location in Europe for international firms to set up their businesses and their European presence. It was undoubtedly our first choice as a business.
