International Internet Magazine. Baltic States news & analytics
Saturday, 23.10.2021, 21:03
Wittix, an electronic money institution, and Hanan Assis, its CEO, have been fined for improper safeguarding of client money, the Lithuanian central bank said LETA/BNS.
Keyword tags: Banks, Financial Services, Fintech, Lithuania
US financial startup Sezzle has established a company in Lithuania and may use it as a springboard for expansion into Europe, the business daily Verslo Zinios reported on November 19th, cites LETA/BNS.
Finland' financial technology company Saldo Finance is set to double its product development team in Vilnius over the next year, with plans to hire more financial and technology professionals at a later stage, Invest Lithuania said on November 19th, cites LETA.
Japanese fintech company MUFG Investor Services FinTech Limited (MUFG ISFT) has announced its plans to open a representative office in Lithuania and the goal of its first office in the country will be to attract new talents, Lithuania's foreign investment promotion agency Investuok Lietuvoje (Invest Lithuania) report, cites LETA/BNS.
In the first eight months of this year, Latvian startups attracted investments worth EUR 13 mln, said Diana Lace-Davidova, the executive direction of the Latvian association of startups, Startin.lv, in a forum today, referred LETA.
The Board of the central Bank of Lithuania has granted Polish-capital company Finnovative Solutions a payment institution license authorizing to offer payment initiation and account information services, reported LETA/BNS.
Bank of Lithuania: Electronic money and payment institutions managed to withstand the shock of COVID-19
In the first half of 2020, the number, payment transactions and income of electronic money and payment institutions (EMIs/PIs), which hold a significant share of the Lithuanian fintech sector, continued to grow at a rapid pace.