Luminor, the third-largest provider of financial services in the Baltics, has partnered with cloud portfolio management platform provider FA Solutions for its Asset & Pension Fund business segment, enabling Luminor Pensions to streamline cross-border operations and consolidate its multi-country systems into one platform.

Luminor is a contemporary new generation bank and financial services provider, combining global knowledge with local expertise. It is the largest local independent bank in the Baltics with a central office in Estonia and branches in Latvia and Lithuania. In line with local regulation of pension asset management, Luminor Pensions operates through separate local legal entities in countries of operations.

“As Luminor was created through the merger of several entities, we have been working on improving our IT architectures to align with our cross-border business model,”

says Rasmus Pikkani, Head of Asset Management and Pensions at Luminor Bank.

“FA Solutions’ cloud-based platform provides a single technical solution commonly managed across several locations, allowing us to focus on providing the best service for our customers,”

explains Pikkani.

FA Solutions has recently opened a new office in Latvia in order to offer its customers the best fintech consultants and engineering for FA’s global deployments. Elsewhere, the company has offices in Finland, Sweden, and the United Kingdom, and serves over 70 major banks, independent asset managers and institutional investors in 15 different countries.

“Working with Luminor in implementing the FA Platform has also helped us improve our knowhow all over the Baltics. It’s definitely been a two-way learning curve and we’re really happy with how smooth the process was in every country considering the size and scope of the business,”

ads Hannes Helenius.