The Official Development Agency of the City of Vilnius

FinTech

In the last few years, the Fintech sector in Vilnius has sky-rocketed, attracting media from across the globe. With its top talent, favourable business environment, sector friendly regulatory system, and supportive ecosystem, Vilnius is the ideal home for fintech.

#4

Best location in the world for fintech

Source: Global Fintech Index 2020

#2 in EU

Based on the number of EMI licenses issued

Source: Invest Lithuania, 2018

Fintech sector

In Vilnius employs more than 2 400 specialists

Source: Sodra, 2019

Over 14,000

Finance and insurance specialists in Vilnius

Source: Lithuanian statistics, 2018

Over 21,000

IT specialists in Vilnius municipal area

Source: Lithuanian statistics, 2018

Favourable business environment

  • Newcomers programme – provides guidance through a one-stop-shop by the Bank of Lithuania
  • Smooth authorisation
    • Electronic money or payment institution license 2-3 times faster than other EU jurisdictions
    • The only jurisdiction in the EU offering "Lite" bank license for challenger banks
    • Application can be submitted online (in English)
    • KYC for customer onboarding can be carried out remotely
  • Access to payment infrastructure
  • Cost effective Vilnius is No. 2 based on cost effectiveness in the top 10 FinTech Locations of the Future 2019/2020 rating (source: Financial Times, 2019)

Ecosystem

  • The Bank of Lithuania is the country’s central bank seeking to foster a reliable financial system and ensure sustainable economic growth.
  • The Bank of Lithuania regulatory sandbox offers FinTech companies a regulatory environment for testing innovative solutions.
  • ROCKIT is home to FinTech and innovation, providing infrastructure to scale business, access to mentors and top industry events.
  • Fintech INN is the largest and most significant international Fintech conference in the region.
  • Fintech HUB LT unites FinTech industry participants in Lithuania, helping them to create the best conditions for their activities.
  • FINTECH Lithuania brings together fintechs, developers of IT solutions, service providers for fintechs, legal, licensing and regulatory compliance consultants, banks and other ecosystems participants.

Companies already in Vilnius

Revolut
Blender
Shift4
Simplex
Savy
Coingate
Neo finance

Other key sectors

Information and Communication Technologies
Information and Communication Technologies
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