Fintech news

Fintech news

FinTech: UK’s Contis Group have picked Lithuania as the best route for accessing the EU
29.07.19 | The Board of the Bank of Lithuania decided to issue the Electronic Money Institution (EMI) license for UAB Finansinės paslaugos „Contis“– part of UK based Contis Group securing groups access to the financial markets of continental Europe.
Pan-European Crowdfunding platforms will provide their services across the whole EU
09.04.18 | European Commission takes actions to promote Europe as a more attractive place for start-ups by introducing new regulations on crowdfunding. Commission has proposed a draft regulation to enable crowdfunding platforms to access customers across the EU.
Lithuania aims to become the destination for UK Fintech companies seeking to secure EU passporting rights after BREXIT
16.10.17 | An attractive legal and technological environment, business minded and advanced supervisory authority open to financial market innovations, qualified and competitive workforce, opportunities to operate across the EU basing from Lithuania – that‘s what put Lithuania to one of the best places on the global FinTech map. Especially now, as Great Britain’s impending exit from the EU has…
Singapore-based global payments processor “InstaReM” secures Lithuanian e-money license for European expansion
28.09.17 | “InstaReM”, well-known Singapore-based financial technology (FinTech) company, is entering the European market via Lithuania. The regulator Bank of Lithuania issued an Electronic Money Institution (EMI) license to “InstaReM”, which is already operating in more than 50 countries around the world. “InstaReM” is a new-age enterprise that is disrupting of the current process of expensive and…
European banking heaven – Lithuania boosts efforts to improve licensing regulations for international finance institutions
24.07.17 | Lithuanian authorities making further steps to turn Lithuania into one of the most attractive jurisdictions for banks and finance institutions in the European Union and European Economic Area (EU/EE). The largest Lithuanian business daily “Verslo žinios” investigated recent efforts of Lithuanian authorities on July 27, 2017. Lithuanian licensed Banks are allowed to offer all banking…
REVOLUT will carry out Euro payments in Single Euro Payments Area (SEPA) using payment infrastructure of the National Bank of Lithuania
18.07.17 | London based global payment processor REVOLUT has chosen Lithuania to open IBAN bank accounts for its clients throughout Europe and use for pan-European SEPA payments infrastructure managed by the central Bank of Lithuania. Lithuanian news portal 15min.lt reported that REVOLUT has also targeted the clients of local Lithuanian banks. REVOLUT will soon propose to transfer salaries, as…
American stock exchange giant Nasdaq welcomes Lithuania’s progress in FinTech
08.06.17 | More competition means more innovation, and that can only be an advantage for Europe’s consumers and businesses. Lithuanian authorities do not doubt about that and continues to present itself as a country of innovation and potential financial technology (FinTech) leader in the region and to attract new FinTech companies. Lithuania possibilities and plans were recently…
Bank license in Europe – Lithuanian Specialised Bank
26.04.17 | In January, 2017 European Union member state Lithuania introduced a new “light” banking license – Specialised Bank. Specialised Bank is allowed to provide almost all traditional banking services in European Union (EU) and European Economic Area (EEA) member-states: lending, payment services, receipt of deposits, currency exchange, issuing of e-money, issuing guarantees, fund administration, financial leasing,…
Data protection in FinTech companies – time to prepair for the new regulation
21.04.17 | FinTech industry, resulting from the strengthening of linkages between the financial services and information technology sector, is a real technological whirlwind, providing financial markets with an enormous leap in progress. And while innovative solutions enable faster, cheaper and more convenient provision of financial services for customers, after the European Union’s General Data Protection Regulation (hereinafter…
Lithuania aims to become a financial technology (FinTech) industry hub in the region
19.04.17 | In order to attract more investors into the FinTech industry Lithuanian Ministry of Finance submitted additional proposals and the specific measures to the Government that would contribute to the improvement of the FinTech ecosystem in the country. The proposals are divided into four factors determining FinTech industry development: favourable public policy and legal environment, the…

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