Fintech Hub LT

📢 Event Recap: Fintech Hub LT and the Lietuvos bankas | Bank of Lithuania Present REGATA  Today, Fintech Hub LT, in collaboration with the Lietuvos bankas | Bank of Lithuania, hosted an onsite event on the "Presentation of the Lietuvos bankas | Bank of Lithuania Data Collection System REGATA". Participants had the opportunity to dive deep into REGATA's functionalities, explore the data upload format, and understand the core principles of data provision. As the deadline for reporting to REGATA approaches, this session provided valuable, hands-on insights for a seamless and efficient reporting process. A big thank you to all the attendees who joined us at ROCKIT Vilnius! We hope you found the event informative and are now well-prepared for the upcoming changes. Stay tuned for more events and updates from Fintech Hub LT! #Fintech #Lithuania #BoL #Regata #DataReporting #Innovation Gytautė Peseckaitė Lina Staniulyte

Fintech Hub LT has participated in the meeting hosted by the Ministry of Finance of the Republic of Lithuania reflecting on a progress of Lithuanian Fintech Strategy implementation! 🤝 Yesterday, representatives from all key stakeholders involved in the creation and signing of the Lithuanian Fintech Strategy gathered at the Ministry of Finance of the Republic of Lithuania to reflect on the progress made over the past year. The meeting marked an important milestone, bringing together regulators, financial institutions, fintech companies, and policymakers to assess how far we have come in advancing Lithuania's position as one of the leading fintech hubs in Europe. It was an invaluable opportunity to review achievements, address challenges, and further align our efforts toward creating a robust, innovative, and sustainable fintech ecosystem. One of the highlights of the meeting was the introduction of the Fintech Index, developed by ConnectPay. This index offers a comprehensive overview of the fintech landscape in Europe, providing valuable insights into sector growth, innovation metrics, and the overall health of the industry. The discussion around the index was vibrant, with participants sharing perspectives on how data-driven analysis can guide future strategy adjustments, identify growth opportunities, and address potential gaps. As we continue on this path, it is clear that Lithuania's fintech sector is thriving, but there is still work to be done. Collaboration between the public and private sectors remains vital to ensuring the successful implementation of the strategy and keeping Lithuania at the forefront of global fintech innovation. Together, we are building a dynamic, future-ready ecosystem that will continue to attract talent, investment, and new opportunities. #Fintech #Lithuania #Strategy #Innovation #Finance #Progress #Collaboration Ministry of Finance of the Republic of Lithuania Invest Lithuania Innovation Agency Lithuania | Global ROCKIT Vilnius BCCS Cluster Lietuvos bankas | Bank of Lithuania Ekonomikos ir inovacijų ministerija Finansinių nusikaltimų tyrimo tarnyba (FNTT) Go Vilnius

  Fintech Hub LT and association members in a recent 15min article! 🌟 The fintech landscape is rapidly evolving, and companies are at the forefront of transforming the financial sector. According to a recent article from 15min, fintechs such as myTU and Monavate are innovating payment solutions and reshaping the various ways of managing payments. "People have known banks for a long time, so they naturally associate them with financial security. But the further we go, the more customers value not only reliability, but also speed, cost, functionality and accessibility. Fintech companies are usually not large, so they can react quickly to the economic situation and offer the best solution for the customer," says Greta Ranonytė, Head of Fintech Hub LT. Looking to the future, it's clear that fintech companies will play a key role in adapting to consumer needs and improving financial literacy. Their agility allows them to respond quickly to market changes, paving the way for a more dynamic and accessible financial ecosystem. "We have launched a new product for businesses - the Business API, which helps companies to optimise their financial processes and increase operational efficiency by integrating payments into their business systems. By fully automating payments, businesses can create and sign instant payment instructions through the API interface, receive real-time payment notifications, check account balances, receive account and transaction statements, receive notifications of payments to the business account, etc. This enables businesses to achieve unparalleled speed in business payments while significantly reducing operational costs and manual errors that used to occur," says Raman Korneu, CFA, CEO at myTU. "As a principle member of global payment system infrastructures, we can offer a very fast turnaround for the creation and issuance of a BIN. This is essential when launching new credit, debit or prepaid card projects. Our platform supports both physical and virtual cards that can be used in a wide range of business models, from retail to international financial services. We also offer a full range of card programme management services, including card personalisation, packaging solutions and digital services such as PIN generation. This enables companies not only to manage their card programmes efficiently, but also to provide their customers with an exceptional experience, from ordering the card to using it," says Eglė A., CEO of Monavate in Lithuania. Let's continue to support and celebrate the innovation that fintechs bring to our industry! More details in the article via the link: https://lnkd.in/eauewu4Z #Fintech #Innovation #FinancialServices #Transformation

📢 Fintech Hub LT & Visa Event: Exploring Cross-border Payments Solutions! We’re thrilled to invite Fintech community to an exclusive on-site event co-hosted by Fintech Hub LT and Visa at ROCKIT Vilnius. This exciting event presents a deep dive into Visa Direct, a solution which can effectivize cross-border payments globally. With reach across 190+ countries and instant payouts to cards, bank accounts, and digital wallets, Visa Direct is helping businesses like Upwork and Starling Bank streamline their payment processes. 🗓️ Event Date: October 17th ⏰ Time: 9:30 AM – 1:00 PM 📍 Location: ROCKIT Vilnius Network with industry leaders and discover new opportunities in cross-border payments! #Fintech #CrossBorderPayments #VISA #Networking

Fintech Hub LT in the latest Delfi Lietuva article - 🌟 The growing demand in the fintech sector 🌟 As the fintech sector continues to expand, so does the demand for skilled professionals. According to a recent article by Delfi Lietuva, the rise of this dynamic industry is creating numerous job opportunities, with some salaries exceeding €7,000. Asta Grigaityte, chairwoman of the board of Fintech Hub LT, emphasises that "the growth of the fintech sector reflects not only advances in technology, but also the increasing need for skilled professionals to drive this innovation". This growth isn't just good for the companies thriving in the sector, it's also opening doors for talented individuals looking to further their careers in finance and technology. The need for expertise in areas such as AI, blockchain and regulatory compliance is particularly pronounced, demonstrating the diverse skill sets that employers are now looking for. More details in the article via the link: https://lnkd.in/e93zvZr4 Let's embrace this exciting time for fintech, where innovation meets opportunity! 🚀 #Fintech #CareerOpportunities #JobMarket #Innovation #Technology #Finance

Fintech Hub LT Compliance Group Meeting! 🤝 On 13 September, Fintech Hub LT hosted its quarterly Compliance Group Meeting in cooperation with the Lietuvos bankas | Bank of Lithuania. The meeting, which brought together key stakeholders from both the regulatory and fintech community, served as a platform to discuss current and future regulatory challenges. The meeting highlighted several key regulatory and industry developments affecting electronic money institutions (EMIs) and payment institutions (PIs). One of the main issues discussed was the impact of the recent amendments to the Lithuanian Audit Law, the Eurosystem's safeguarding rules and the distinction between e-money issuance and payment services. The forthcoming PSD3 regulation and the expected re-licensing process were also discussed. The meeting addressed concerns related to risk management, fraud prevention and safeguarding of customer funds, the importance of diversification of customer funds safeguarding measures, and encouraged institutions to maintain multiple safeguarding accounts to mitigate risks related to potential bank failures. The Association also sought clarification on the practical aspects of implementing fraud prevention guidelines, particularly with regard to reimbursing victims without breaching payment regulations and other important issues.

Fintech Hub LT Information Security Group Meeting! 🤝 On 10 September, Fintech Hub LT hosted the quarterly Information Security Group Meeting, bringing together members of the fintech community to discuss the latest trends and developments in cybersecurity. The meeting was chaired by Tautvydas Jašinskas, who gave an insightful presentation covering key aspects of information security in the fintech sector. Several important updates were shared during the meeting. We would like to thank the companies that have registered for the Malware Information Sharing Platform (MISP), including ArcaPay, B4B Payments - A Banking Circle Group Company, ConnectPay, European Merchant Bank | EMBank, EXZi, ibsettle, Nexpay, Nuvei, OKEO, PAYSTRAX, Paytend, TeslaPay, myTU, VIALET and Vinted Pay. The registration details have been submitted to the National Cyber Security Centre (NKSC) and we will provide an update on the next steps once we receive feedback from the NKSC. The next quarterly meeting of the Information Security Group will take place on 19 November. Tautvydas Jašinskas will again lead the discussion, this time focusing on "Security Monitoring" with topics such as log management, SIEM, EDR, threat intelligence, use case scenarios, alerting and the concept of SOC (internal, external), as well as KPI development.

Fintech Hub LT is pleased to announce that Bud has joined the association. 🤝 Bud enriches financial data, identifying the likes of merchant, category, location and regularity of transactions, to provide actionable insights and readable inputs for LLMs in the financial services industry.    Scaling rapidly, Bud has been a trailblazer in its use of AI since 2015. The company has enabled banks and fintechs worldwide to get customer context from their transaction data so they can personalise the banking experience, proactively manage risk and optimise their business operations.    With tens of billions of transactions processed, Bud’s market-leading transactional enrichment, categorisation and analysis helps financial institutions to become intelligent enterprises, fully harnessing their customer data and finding new, data-driven opportunities to grow. More details on the Company's website: https://lnkd.in/gAnZrHcT #Fintech #AI

Fintech Hub LT Quarterly CEO Group Meeting🤝 On 17 September, Fintech Hub LT hosted an engaging online quarterly meeting of the CEO Group, focusing on safeguarding customer funds following the recent ECB decision affecting central bank payment systems. The event brought together fintech leaders to explore the safeguarding options available through various financial institutions. The session kicked off with Asta Grigaityte, Chairwoman of Fintech Hub LT, followed by insightful keynotes. Edgaras Grabauskas (mano.bank) presented the solution for safeguarding customer funds, while Rutenis Sukevicius (Lietuvos centrinė kredito unija / Lithuanian Central Credit Union) discussed the synergies between credit unions and fintech. Further discussions included Fergus Bracher of Howden presenting insurance options for safeguarding, and Sarp Demiray (European Merchant Bank | EMBank) highlighting safeguarding services. The event closed with Daniel Rowlands (LHV Bank) highlighting the role of LHV Bank in driving the growth of fintech in Europe. The online event was moderated by Anna Pavlovska, Head of partnerships at Fintech Hub LT. We express our gratitude to all attendees for making this session a success! #Fintech #Hub #community

Fintech Hub LT is pleased to announce that ValorPay has joined the association! 🤝 ValorPay is a European payment institution providing innovative, reliable and compliant payment services to businesses of all shapes and sizes, from issuing IBANs to accepting e-commerce payments with VISA, Mastercard and APM. Licensed in Europe and based in Lithuania's fintech ecosystem, ValorPay works tirelessly to ensure the sustainable growth of its clients' businesses by providing stable and secure payment solutions, efficient fraud management and transaction monitoring, as well as ongoing professional customer care and support. More details about the company can be found here: https://lnkd.in/eM-uyNsh #Fintech #Ecosystem