Bank of Lithuania
2020-08-05
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The Bank of Lithuania presents to fintech companies, potential participants of the country’s financial market, the “Customer’s journey” – a comprehensive infographic that presents everything from the first talks about business plans to issuance of the license. 

“Customer’s journey” is one of the currently underway stages of strengthening the licensing process of the Bank of Lithuania. We strive from the very first steps to match up with the expectations of potential market participants – e-money and payment institutions considering the possibility to provide financial services in and from Lithuania – and to simply and clearly demonstrate the entire licensing process – the requirements, assessment criteria and time limits,” said Jekaterina Govina, Director of the Supervision Service of the Bank of Lithuania. 

The infographic presents eight stages, explaining what is assessed at each stage and the assessment criteria, all shown through traffic lights. During the assessment, particular attention is paid to anti money laundering, risk management and ensuring services quality measures, and to the quality of capital.

Authorisation of electronic money institutions Authorisation of payment institutions