This year Lithuania got the spotlight as the country that has piqued the interest of many UK-based fintech companies. Amidst the uncertainty of Brexit, more and more UK companies are rushing to open offices on the continent. To operate in the European Union (EU), fintech companies must obtain a license issued by any member country.

Therefore, The Bank of Lithuania created an e-licensing tool last year to make the submission of information for an operating banking license easier and more efficient. The institution currently offers the quickest licensing in the EU, and e-registration that can be accessed from anywhere on the globe.

The Lithuanian fintech cluster is now composed of upwards of 120 companies. InstaReM, Harbortouch, Revel, TransferGo, Nayax and Monetha are some of the big names using Lithuania not just as a platform for operating across the European Economic Area, but also as a development base.

On November 8 Lithuania will hold an annual international conference in Vilnius – Fintech Inn – to discuss how it could strengthen its leadership in the region. Daumantas Dvilinskas, co-founder and CEO at TransferGo, leading digital remittance and payment provider, will be among the speakers. This Lithuanian company is currently making waves as one of the hottest fintech startups around. The startup recently launched their international free money transfer service, the first of its kind.  Other well-known fintech leaders like widely recognised electronic money economist Jon Matonis, Chief Economist for Financial Products at Bloomberg LP Michael McDonough, and Deputy Head of the Capital Markets Union of European Commission Jung Lichtenberger will also be speakers at the conference.

Please find more information here www.fintechinn.lt.