Recently, the second statement, directed at managers of electronic money and payment institutions, as well as those applying for an EMI or PI license, has been published. The Bank of Lithuania makes observations and provides suggestions on what should be considered when offering licensed services, managing risks, securing customer finances, and other relevant matters.
According to member of the Board of the Bank of Lithuania Simonas Krėpšta, the regulative institution has assessed the market picture and shares summarized good faith insights and advice with FinTech sector, addressing the most common mistakes or encountered issues. This should encourage financial institutions to check their internal controls and take preventive actions to avoid potential difficulties.
Sintesi Consulting can help you with:
– Complying with the regulative requirements of the Bank of Lithuania
– Acquire the EMI or PI license for your FinTech institution
– Legal issues, prepare necessary documents and represent your company at the Bank of Lithuania
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