First developed in 21 century, Fintech is a short term for financial technology. It describes new technologies which help to improve and automate the way financial services are used and delivered. When considering, where is the best location for your Fintech start-up in EU, Lithuania can be a great choice. With openings of specialized banks, more than one Fintech law firm in Lithuanian claims to adapt their inner workings to suit the ever growing market of Fintech. Mainly, Fintech is utilized to assist various business owners, companies, and consumers in better managing their financial operations and processes with the help of specialized software and different algorithms.

Fintech Law firms

Many law firms in Lithuania claim to design efficient legal solutions for Fintech industry which is currently reshaping traditional models for providing financial services. Some of them represent a broad variety of clients, such as start-ups, P2P and crowdfunding platforms, asset managers and alternative lenders and e-money and payment institutions. These experts in Fintech law firm in Lithuania stay in close contact with market participants and remain active members of IT business companies’ associations in Lithuania. Such teams can provide legal advice in the following areas: licensing & regulation of the financial institutions, cyber-security legal issues, acquiring & selling Fintech business, corporate governance, tax structuring and more.

Specialized Banks

With Fintech spreading even further in Europe, Lithuania has passed amendments to the banking legislation and introduced a new type of specialized banks. These banks will operate as supervised and licensed credit institutions and will be entitled to offer such financial services as: taking deposits, lending, financial leasing, issuing guarantees and commitments, financial intermediation, administration of funds, currency exchange, issuing of e-money and more. Fintech law firm in Lithuania and specialized banks signal a more advanced way of dealing with financial services coming to this part of Eastern Europe.