Preparing students for a changing financial labour market

The Hague University of Applied Sciences is taking a clear step towards future-oriented education at the intersection of finance, technology and regulation. The Open Payments Innovation Lab, which was launched in March 2026, combines teaching and research in an interdisciplinary programme. Students work there on current issues in relation to open payment systems and financial inclusion.

The Open Payments Innovation Lab consists of a twelve-week programme and awards students five credits for additional circular activities. After eight weeks of workshops and three weeks of coaching, the programme concludes with a pitching event. Students work in interdisciplinary teams on real-world case studies exploring how open payment technologies can promote digital financial inclusion. That combination of disciplines is essential, emphasises lecturer, researcher and lab coordinator Aleksandra Asscheman: ‘It is important that students not only know the rules, but also understand how the technology works. They must speak both languages’.

Regulations governing open payment systems

The curriculum of the lab reflects current developments in global payments. Students are introduced to complex topics, such as the Interledger Protocol (ILP); an open technology that enables payments between different systems. Although new technologies have the potential of making payments faster and cheaper, they simultaneously raise fundamental legal and societal questions. ‘It is fantastic that the open payment standard, managed by the Interledger Foundation, makes it technically possible to connect various payment systems’, Aleksandra explains. ‘The question is how this technology fits within the current regulatory landscape. Who is ultimately responsible for the transactions, the prevention of money laundering, and sanction checks?’ It is precisely these questions that lie at the heart of the programme. Students analyse not only the technical possibilities, but also the legal frameworks and economic feasibility of solutions.

High level of diversity and engagement

The New Finance research group, part of the Centre of Expertise Digital Operations & Finance, is running the Open Payments Innovation Lab as a pilot. Integration into existing curricula proved to be complex, partly due to its interdisciplinary nature and the collaboration between different study programmes. That is why an extracurricular approach was adopted. Just a few days after registration opened, more students had already signed up than expected. The approximately fifty participants are mainly third- and fourth-year students on law or finance study programmes. It is striking that approximately 70 percent of the registered students are women. ‘It is often said that there are too few women in fintech’, says the lecturer-researcher. ‘But in this project, we see the exact opposite’.

Focus on financial inclusion

Financial inclusion is a key principle of the lab. It is estimated that 1.4 billion people worldwide do not have access to formal financial services. Traditional systems systematically exclude certain groups, for example when it comes to access to credit. ‘What if people do not have a credit history to get a loan?’ Aleksandra wonders. ‘Research shows that transaction data, such as sales and purchasing patterns, have a predictive value comparable to that of traditional credit history. New technology enables us to unlock those data and reduce barriers to financial access worldwide. We challenge students to design solutions that make this possible, combining technical architecture, legal analysis and financial justification with an assessment of the social impact. New technological solutions, such as the open payment standard, are currently being developed at a rapid pace. It is a challenge to ensure that payment systems are interoperable and inclusive, whilst allowing public and private funds to coexist. We are already familiarising students with these issues, so that they will make a difference as professionals in the future.’

Education and research in one programme

In collaboration with the Interledger Foundation, The Hague University of Applied Sciences is positioning itself as a European knowledge partner in the field of the legal and financial aspects of open payment systems. The Open Payments Innovation Lab plays a role in knowledge development and network building in this regard. ‘Not only are we developing an educational project’, emphasises the lab coordinator, 'we also want to be a knowledge centre where research, education, and practice meet.’ 

A new generation of professionals 

The lab focuses specifically on developing a new generation of professionals. Students are prepared for roles at regulatory bodies, financial institutions and policy organisations, where knowledge of both technology and regulation is becoming increasingly important. ‘It basically is the start of a research project’, says the lecturer-researcher. ‘We involve students in real-life issues so that they are well-prepared for the labour market.’

Presenting solutions

The pilot concludes in June 2026 with a pitching event, at which students will present their solutions to a panel of industry experts. The best teams will have the opportunity to showcase their ideas at the next Digital Future of Money event, organised by the New Finance Research Group at THUAS. The best team may be invited to present at the Interledger Summit. Through the Open Payments Innovation Lab, The Hague University of Applied Sciences demonstrates how education can respond to rapid technological developments without losing sight of the social and legal context.

Find out more about the Open Payments Innovation Lab and its contact details here.