Updated time: Apr 17, 2020, 05:46 (UTC+03:00)
The 4th Annual Conference on FinTech and Digital Innovation was organised on 3rd March 2020 in Brussel successfully with many discussions and recommendations.
The FinTech EU 2020 conference mainly focused on the global dimension of FinTech, the relationship between financial services companies and third party technology providers, the shift towards an increasingly open architecture in retail finance and what this means for policy, technology’s role in the integration of EU capital markets, and responding to the emergence of a multitude of crypto assets.
The event again brought together more than 350 participants from the European regulatory and supervisory community, industry, academia and civil society with the message “Delivering for future”.
Source: FinTech Eu 2020
In this article, we would like to cite a speech of Mr. Vilius Šapoka, Minister of Finance of Lithuania in the conference. He spoke about the attractiveness and success of Lithuania in FinTech through achieving a balance of speed without compromising security.
Source: FinTech Eu 2020
“Lithuania has become number one in the EU through changing its supervisory mindset, along with the abundance of talent and quality of IT infrastructure in the country. Data has become the new oil, so data protection and cyber resilience are crucial. In Lithuania, the Central Bank, Regulator and Ministry of Finance provide a one-stop-shop with industry and prioritise staying up-to-date with the latest FinTech developments.”
Sharing about future directions, Mr. Vilius Šapoka said: “Lithuania has seen the most licences in payments and electronic money been issued, but hopes to replicate this success in other areas of financial services, and also hopes their success will inspire others. The EU needs to remove cross-border barriers to allow the better management of risks and permit scalability across borders. Lithuania is supportive of the Commission’s FinTech action plan, which is one of the catalysts to a successful Capital Markets Union.”
As a member of Lithuanian Financial Institutions, DNBC Financial Group is attempting everyday to improve our IT infrastructure to protect datas against cyber crimes, update state-of-the-art new functions for payment services and Foreign currency management. The path to succeed requires us to put in more effort to make a breakthrough in the future.
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