Fintech

Although Lithuania has a fairly favourable regulatory environment for the Fintech sector, it is necessary to follow the basic legal guidelines to successfully navigate it.  

There are several main licensing methods in the fintech sector. These include an Electronic Money Institution (EMI) licence, a Payment Institution (PA) licence and other specific licences that may be required depending on the range of your services.

For those already licensed, we advise on the supervision of the licensed activity requirement – including anti-money laundering (AML) procedures, Know Your Customer (KYC) procedures and other security standards – in cooperation with regulators such as the Financial Conduct Authority (FCA). In addition, we also advise on compliance with AML and other regulatory requirements, such as the Bank of Lithuania. 

The lawyers at Prevence are ready to assist you every step of the way. We understand the fintech ecosystem from the inside and can offer a concrete and practical approach to help your company integrate successfully. 

In the fintech sector, which is at the intersection of innovation and regulation, compliance is not only a necessity but also a source of competitive advantage. Every fintech company needs to understand that a one-off focus on a particular area or declarative documentation is not a long-term solution. 

Fintech companies that invest in a risk management strategy and a culture of compliance will gain market advantage in the long run. Prevention of Money Laundering and Terrorist Financing (AML/CFT) is just one area where compliance is vital. From the earliest days of operation, regardless of scale or geographic spread, fintech companies must be prepared to comply with AML/CFT requirements.

Prevence Law Firm is ready to provide the necessary expertise and assistance to companies and investors in this complex area. 

When we talk about representing fintech companies, we are talking about an integrated approach to deals. This means that we not only draft legally sound contracts, but also analyse every aspect of the deal in order to achieve optimal terms for our clients. Our work includes risk assessment, analysis of regulatory issues, intellectual property protection, data protection requirements, licensing and regulatory issues, as well as deals revolving around financing advice.  

In the fintech sector, we are often confronted with complex transactions that involve both traditional financial mechanisms and the latest technologies such as blockchain or artificial intelligence. Therefore, Prevence’s team of lawyers continuously develops its expertise to successfully represent clients in this dynamic area. 

Moreover, we understand that success in the fintech sector depends on speed and flexibility. That’s why we act swiftly and react quickly to market changes in order to meet our clients’ expectations.