Lithuania
ArcaPay Granted Payment Institution License by Bank of Lithuania
ArcaPay UAB, the subsidiary of ArcaPay, a UK-based and FCA regulated cross-border payments platform, has been granted a payment institution license by the Bank of Lithuania. The company, founded in London in 2011, is opening a new base in Lithuania
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Lithuanian E-Money Institution FINCI Goes Live With Temenos
Temenos, a Swiss banking software company, announced that Lithuanian electronic money institution FINCI has gone live with Temenos. FINCI said that Temenos’ rich banking functionality and API-first, microservices-based technology enabled it to design, build and launch the service from scratch
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Examining the Lithuanian Fintech Space and What the Future Holds for 2021
The financial technology sector has faced multiple challenges in the last year. Like many other industries worldwide, the finance sector lost its workforce, and many businesses had to close down. But inefficiencies bring new opportunities, leading the way for fintech
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P2P Insurance Platform Completes Year-Long Testing in Bank of Lithuania’s Sandbox
Ooniq, peer-to-peer insurance platform of Workpower, has completed a year-long of testing within the Bank of Lithuania’s regulatory sandbox. The regulatory sandbox allows companies developing innovative financial products and business solutions to test them in a real environment under supervision
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Idenfy and Verifo Join Forces to Secure International Payments
Real-time identity verification service iDenfy and international payment platform Verifo announced that they are partnering to secure financial transactions. Verifo said that not only it facilitates cross-border wire transfers, payment collections, and currency exchange services, they also offer customisable all-inclusive
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Booming: Lithuania’s Fintech Report and Startup Map 2021
Despite headwinds caused by the COVID-19 pandemic, Lithuania’s fintech landscape continued to grow in 2020 with 40 new companies setting up operations, bringing the total number of fintechs in the country to 230, according to Lithuanian investment promotion agency Invest
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Lithuanian SME Digital Financing Granted a Specialised Bank License
The European Central Bank (ECB) has granted Lithuanian capital company SME Digital Financing a specialised bank license following the assessment and proposal of the Bank of Lithuania. Having secured the license, SME Digital Financing will now be able to accept
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Lithuanian Paysera Raked in EUR 13 Million in Revenue for 2020
Paysera, a Lithuanian payment processor, announced that it has raked in EUR 13 million in revenue in 2020 which exceeded the revenue of 2019 by 17 percent. The company reported that its unaudited net profit in 2020 was EUR 3.4
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Lithuanian Neobank SME Finance Reported 57% Revenue Increase In 2020
Lithuanian-based neobank SME Finance has reported that it chalked up fiscal revenues of EUR 7.7 million in 2020, which showed a 57% increase from the previous fiscal year. The neobank said that its growth was driven primarily by a significant
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Payments Provider SumUp Acquires Lithuanian Fintech Paysolut
London-based payment service provider SumUp has acquired Paysolut, a Lithuanian core banking system provider for an undisclosed sum. The acquisition will help Paysolut expand its team and offer a new level of quality products. In terms of Paysolut’s future, SumUp
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