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
- Full SEPA reachability (34 countries)
- Direct technical access to SEPA via the Bank of Lithuania (for non-banks)
- Ability to issue your own IBANs through Bank of Lithuania API
- 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
