To be a small country that can punch above its weight, focusing in on one industry you are especially strong at is essential. And for Lithuania, that industry is Fintech – a rapidly developing field on the intersection of traditional finance and cutting-edge IT. Compared to other Fintech hubs, Lithuania possesses one highly distinctive feature: a shared strategic outlook found at every level of the ecosystem. From a regulator often named the most progressive in the EU, to a government that understands the value of adapting fast, through to industry associations building a close-knit community, there is a shared commitment to make Fintech work.
And Lithuania has already made big strides forward. Fuelled by a talent pool that has honed its skills in enterprises like Danske Bank and Western Union, Lithuania has taken disruption from theory to practice. The 170 Fintechs based in Lithuania already benefit from a suite of sandboxes that enable them to test and perfect innovations that could soon be transforming financial services for businesses and individuals.
Lithuania is recognized as a hub for information and communication technologies (ICT) and is further positioning itself as a center of excellence in cybersecurity, e-business and e-government solutions. Lithuanian ICT infrastructure is well known for its quality and high level of development. Lithuania’s e-infrastructure is EU-leading. In fact, it is amongst the best worldwide.
Our ICT industry is well known for its Digital Government services, the amount of them being electronic and the constant effort to improve their availability. Having the goal of saving both costs and time of our citizens we transfer our public services to the digital platform and maintain the objective of everyone's convenience - both the citizens and the public sector. Consistent improvement is what we do.