Fintech Hub LT

🌟 Save the Date: Baltic VCA Summit 2024 in Vilnius! 🌟 For over a decade, the Baltic VCA Summit has served as the premier gathering for key players in the Baltic Private Equity and Venture Capital industry. This September 2024, all the enthusiasts are invited to converge in Vilnius. It's the perfect opportunity to delve into crucial industry challenges, explore emerging opportunities, and gain insight into the future landscape of the market. 📅 Date: September 2024 📍 Location: Vilnius, Lithuania ℹ️ More details about the event: https://lnkd.in/e4dW4vCx 🎟️ Secure your ticket today: https://lnkd.in/gusQFdND Don't miss this chance to network, learn, and shape the future of the Baltic Private Equity and Venture Capital sector! Greta Mieliauskaitė

Fintech Hub LT at Fintech Board Member Education on 23-24 April at NARUTIS hotel! Fintech Hub LT together with Baltic Institute of Corporate Governance The Institute of Internal Auditors Lithuania and Rizikos valdymo asociacija was pleased to participate in the Fintech Board Member Education event aimed at executive and non-executive board members of fintech companies. The programme was thoughtfully tailored to address key topics in line with the Bank of Lithuania's regulations, expectations and industry best practices. We were privileged to delve into important topics led by industry experts, such as expectations of board members, duties under Lithuanian company law, control environments, board agendas, executive structures, AML disputes, risk management perspectives, digital operational resilience, AML governance roles, and engaging discussions. A big applause to all speakers, organisers and fellow attendees for making this an insightful and enriching event. 📝 Lietuvos bankas | Bank of Lithuania expectations towards board members and CEOs of licensed EMI/PI, presented by Denas Gadeikis, Head of EMI/PI Supervision at Lietuvos bankas | Bank of Lithuania; 📝 Duties of board members under Lithuanian company law and implications of non-compliance, presented by Joana Baublyte Kulviete, Co-founder and Partner at WALLESS; 📝 Control environment and the Three Lines Model, presented by Laura Garbenciute-Bakiene, Supervisory Board, Audit & Risk Committee Member; 📝 Board agenda - fintech experience, presented by Agne Selemonaite, Board member and C-executive at Fintech; 📝 Executive board structure and best practices, presented by Rytis Ambrazevičius, President at Baltic Institute of Corporate Governance; 📝 AML disputes, presented by Zygimantas Stankevicius, Partner at TGS Baltic; 📝 Risk management as a business enabler - board perspective, by Tadas Cilcius, Fintech Governance Risk Compliance expert; 📝 Digital operational resilience, presented by Greta Ranonytė, Head at Fintech Hub LT; 📝 Board member responsible for AML - purpose & role, presented by Dr. Lijana Štarienė, CCO, ESG Coordinator; 📝 Moderator of the Event Audrius Radisauskas, Board Member, Fintech, RegTech, Risk&Compliance. We look forward to incorporating the learnings into our fintech practices in Lithuania! #fintech #corporategovernance #board

Fintech Hub LT Hb LT is pleased to announce that KPMG Lithuania has joined the association! 🎊 KPMG operates in 143 countries and territories and, in FY23, employed more than 270,000 people, serving the needs of business, government, public bodies, not-for-profit organisations and, through the audit and assurance practices of KPMG firms, the capital markets. KPMG is committed to quality and service excellence in everything it does, giving the best to its clients and earning the public's trust through its professional and personal conduct. Find out more on the company's website: https://kpmg.com/lt #fintechhub #fintechnews

Fintech Hub LT in recent Delfi article - Experts advise how to protect against cyber attacks! 🤝 Greta Ranonytė, Head of Fintech Hub LT, together with community members Rokas Muraška (PAYSTRAX), Daumantas Barauskas (Genome) and Antanas Kedys (Nexpay) shared valuable advices on how to protect against cyber attacks. The cybersecurity experts emphasised the importance of staying vigilant and implementing robust security measures to protect personal and financial information in this digital age. While advancing technology is rapidly transforming businesses, cybercriminals are not sitting still. As cyber threats evolve over time, it becomes easier for fraudsters to outsmart security systems and people. Cybersecurity experts in the Fintech sector note that relatively new social engineering attacks using artificial intelligence have also become more popular recently. The experts stressed the importance of using strong, unique passwords for each online account and enabling two-factor authentication wherever possible. They also stressed the need for regular software updates and security patches to protect against vulnerabilities often exploited by cybercriminals. More details in the article via the link: https://lnkd.in/dnW9MQFa Stay tuned for more insightful cybersecurity tips and best practices from Fintech Hub LT members! #cybersecurity #fintech #fintechnews #Delfi

Fintech Hub LT welcomes a new member - MELD X! MELD X is a registered CASP in Lithuania that will serve as an on/off ramping and swapping platform in the MELD ecosystem. Headquartered in Singapore and Lithuania with staff across Europe and Asia, MELD is a bridge between decentralised finance (DeFi) and traditional finance, connecting DeFi products such as the MELD L1 blockchain, self-custody wallet and lending/borrowing protocol with real-world assets (i.e. tokenised securities or real estate), fiat bank accounts and debit cards. On the MELDapp, you can borrow stablecoins or fiat cash against your tokenised Apple shares, a Lombard lending service currently only available to high net worth individuals. Please visit the website to learn more: https://www.meld.com/ #Fintech #CASP Gediminas Kiveris Ąžuolas Šopa, CAMS Maia Benzimra 🔴

Fintech Hub LT is pleased to announce that our member TransferGo has successfully raised a $10 million growth funding round. 👏 TransferGo valuation has doubled since its last investment round in September 2021. This valuation surge is supported by impressive financial performance, with TransferGo experiencing 50% revenue growth and reaching profitability in 2023. In contrast to recent market trends, the company has expanded its team by over 30% in the last year, strengthening its leadership with global talent. "Our mission is to create a fairer world for global citizens. This investment opens a new chapter for our company, enabling us to accelerate our growth in Asia Pacific by giving people more opportunities for fairer financial services. We will also continue to invest in expanding our product development and bringing more value to our customers worldwide," said Daumantas Dvilinskas, co-founder and CEO of TransferGo. "The doubling of our company's valuation in the face of challenging capital market conditions validates our robust business model and positions us as one of the fastest growing consumer financial services brands in the world." More details here: https://lnkd.in/eANwPdEP #Fintech #Community #Fintechnews

Recap of today's Baltic Payment Forum! 👏 Exciting discussions and insights at the Baltic Payment Forum in Vilnius today! It was a great opportunity to connect with industry leaders and learn about the latest trends and innovations in the payments sector. Looking forward to implementing some of these valuable takeaways in our business. Applause to the organisers, speakers, panellists, Fintech Hub LT community and participants from 22 countries for coming together in Vilnius and making this event possible! 🤝 Karolina Aleksandrova ProMoney Vaida Česnulevičiūtė Markevičienė Simonas Krėpšta Marine Krasovska Domenico Scaffidi Andrius Bičeika 💙💛 Marius Galdikas Daumantas Dvilinskas Judith Crawford Rachel H. Anna Pavlovska Valerijus Tomasevicius Gintare Baciuliene WALLETTO ConnectPay TransferGo Revolut Simona Vosylienė WALLESS #BalticPaymentForum #Vilnius #PaymentInnovations

Fintech Hub LT invites to the Fintech Board Member Education on 23-24 April at NARUTIS hotel! The topics of this two-day educational programme have been compiled based on the Bank of Lithuania's regulations, expectations and best market practices. We invite current and prospective owners, CEOs and board members of fintech companies licensed in Lithuania. The programme will cover the most important topics: 📝 Lietuvos bankas | Bank of Lithuania expectations towards board members and CEOs of licensed EMI/PI, presented by Denas Gadeikis, Head of EMI/PI Supervision at Lietuvos bankas | Bank of Lithuania; 📝 Duties of board members under Lithuanian company law and implications of non-compliance, presented by Joana Baublyte Kulviete, Co-founder and Partner at WALLESS; 📝 Control environment and the Three Lines Model, presented by Laura Garbenciute-Bakiene, Supervisory Board, Audit & Risk Committee Member; 📝 Board agenda - fintech experience, presented by Agne Selemonaite, Board member and C-executive at Fintech; 📝 Executive board structure and best practices, presented by Rytis Ambrazevičius, President at Baltic Institute of Corporate Governance; 📝 AML disputes, presented by Zygimantas Stankevicius, Partner at TGS Baltic; 📝 Risk management as a business enabler - board perspective, by Tadas Cilcius, Fintech Governance Risk Compliance expert; 📝 Lithuanian fintech strategy & digital operational resilience, presented by Greta Ranonytė, Head at Fintech Hub LT; 📝 Board member responsible for AML - purpose & role, presented by Dr. Lijana Štarienė, CCO, ESG Coordinator; 📝 Panel discussion, moderated by Audrius Radisauskas, Board Member, Fintech, RegTech, Risk&Compliance. More details about the programme and registration are available here: https://lnkd.in/eXc5mn_7

Greta Ranonytė in a recent Verslo žinios article - Fintech Hub LT, FinTech Poland and Women Go Tech seek closer cooperation. 👏   In March, Fintech Hub LT in partnership with FinTech Poland and Women Go Tech, signed a Memorandum of Understanding (MoU) aimed at fostering closer cooperation and knowledge exchange within the Fintech ecosystem.   In a recent article, Greta Ranonytė highlighted the significance of this MoU in advancing shared goals within the industry. One crucial aspect is the exchange of knowledge, particularly in regulatory matters such as the implementation of EU directives. Greta Ranonytė rightly points out that combating fraud, a major challenge in the sector, necessitates uniform rules across borders for customer protection and payment authorizations.   Lithuania's Fintech landscape has shown a remarkable 55% growth 2018 to 2022. The recent count stands at 276 companies, underscoring the sector's resilience and vitality. Despite economic headwinds and a subdued venture capital market, the Fintech industry in Lithuania remains robust.   However, defining the scope of Fintech can sometimes lead to disagreements over which companies fall under the fintech umbrella. Some value innovation, others online service provision. In this case, Poland defines fintech as innovative financial services provided through innovative financial services that are exclusively online. Therefore, Poland also includes five innovative banks and other large financial market players.   In Lithuania, there is a tradition of counting licensed financial market players. This diversity reflects the dynamic nature of Fintech and underscores the need for collaborative frameworks like the one established through our recent MoU.   For more insights and details, we encourage you to read the full article linked here: https://lnkd.in/essxQG-N #fintech #fintechnews

On 3 April, Fintech Hub LT in collaboration with Lietuvos policija, Finansinių nusikaltimų tyrimo tarnyba (FNTT), Specialiųjų tyrimų tarnyba (STT), Center of Excellence in Anti-Money Laundering | Pinigų plovimo prevencijos kompetencijų centras and Lietuvos bankų asociacija | Lithuanian Banking Association joined forces by signing a Memorandum of Cooperation. The agreement focuses on implementing a software tool aimed at streamlining the exchange of information and data. This innovative tool is poised to revolutionize the speed and efficiency of investigating and preventing a wide range of criminal activities. The newly developed software will operate on a centralized "one stop shop" platform, offering a seamless experience for officers from the Lithuanian Police, Financial Crimes Investigation Service, and the Special Investigation Service. It will enable them to electronically submit requests and swiftly access data from credit, electronic money, and payment institutions within Lithuania. A key benefit of this software is the significant reduction in paper-based documentation, leading to savings in both time and financial resources. This initiative marks a milestone in public-private collaboration, setting the stage for enhanced synergy between various stakeholders. As the software tool is rolled out, it is anticipated to serve as a model for successful partnerships in combating criminal activities and upholding security and integrity within the industry. #PublicPrivatePartnership #Fintech