EMBank Chairman Ekmel Çilingir and EMBank representatives discuss fintech trends and prospects with Elijus Čivilis, CEO of Invest Lithuania

EMBank Chairman Ekmel Çilingir and EMBank representatives discuss fintech trends and prospects with Elijus Čivilis, CEO of Invest Lithuania

Lithuania is often cited as an emerging fintech centre in Europe. In a meeting with Elijus Čivilis, CEO of Invest Lithuania, Dr Ozan Ozerk, founder of EMBank, shared his insights on possible measures to be taken for the country to maintain its fintech leadership and attract more multinational companies and financial technology professionals. Ozan Ozerk expressed the significance of regulators and financial institutions working closely together.

EMBank Chairman Ekmel Çilingir and EMBank representatives discuss fintech trends and prospects with Elijus Čivilis, CEO of Invest Lithuania

EMBank Chairman Ekmel Çilingir and EMBank representatives discuss fintech trends and prospects with Elijus Čivilis, CEO of Invest Lithuania

Lithuania has been quickly recognised as a home base for many successful fintech entrepreneurs in the past decade. As a serial entrepreneur and a globally renowned figure in fintech, Dr Ozan Ozerk was quick to realise the importance of the country’s positive outlook on fintech startups. Selecting Lithuania as the ideal place to start the fintech-friendly, EU-licensed bank he envisioned building, he founded EMBank there in 2018. Today, EMBank is one of Ozan Ozerk’s prominent businesses and a favored banking partner to many fintechs worldwide.

Although the fintech sector is relatively young, it has already brought many benefits to Lithuania. By 2023, it is estimated that 27 million consumers in the EU and elsewhere will have used the services of Lithuania’s fintech companies. The sector employs more than 7,000 people, and the companies pay high salaries.

EMBank’s offer to fintechs in Lithuania and worldwide includes business and safeguarding accounts, international payment rails, and a robust, highly capable Banking-as-a-Service infrastructure. EMBank also provides corporate banking to businesses in Lithuania, with services including business accounts, lending, international money transfers, and payments.

Invest Lithuania, the country’s Investment Promotion Agency is a one-stop shop that informs, connects, and supports foreign companies in Lithuania, all free of charge.

Ekmel Çilingir | Chairman of the Supervisory Board of European Merchant Bank UAB