LB: a number of FinTech companies are considering to move from UK to Lithuania

FinTech-Boom is not a fashion and it won‘t come to an end soon. Member of board of Lithuanian Bank Marius Jurgilas shares his opinion about possibilities of Lithuania for FinTech companies. According to him, Lithuania has good chances in this field, as there is no a specific place and country in the world, where FinTechs are focused. As it is stated no specific actions are needed – institutions just need to have willigness to speak not only with huge companies, but also with „small players“.

FinTech sector needs an appropriate regulatory environment, but that doesn‘t mean that no rules or laws are needed. In contrary – companies want that their activity would be regulated, but this regulation should be flexible and progressive.

Lithuania is reducing barriers for FinTech companies to be established as well as constantly improving regulatory environment and necessary infrastructure. According to Mr. Jurgilas, new comming companies, start ups need to know that they also have a lot of chances in the market, which occupied by old-timers.

We are glad, that Lithuanian authorities understand a potential of FinTech enterprises and works on creating a favorable fiscal and administrative environment for them. We, in turn, are also always ready and have a desire to help them to come!