The Baltic region has become a hotbed for Fintech innovation. The three fast rising nations of Latvia, Lithuania and Estonia embody many of the virtues and values of startups, including bold innovation, extensive partnering and deep technology expertise. Latvia with its strong STEM skills and admirable ambitions, aim to become a hub for Fintech innovation.
Nordic Fintech Magazine recently had the opportunity to travel to Riga, the Latvian capital, and we were taken aback by what we saw. A nation of young, engaging and bright professionals determined to leave a mark in the global stage. During our visit we had the pleasure of interviewing Marine Krasovska, the head of Fintech Supervision Department at the Bank of Latvia, to discuss the role of regulators in facilitating the growth of Fintech within the country. In the interview, Marine emphasized the importance of being open and available to service customers and attracting more Fintech companies to Latvia. Additionally, she highlighted the desire for the regulator to provide a fertile land of financial stability for these companies to flourish. With its business-friendly environment and progressive outlook, the country is well-positioned to attract and support Fintech companies. However, with the rise of big data and big tech, it’s not just about attracting companies, but also about ensuring that they can thrive in an ever-changing landscape. If you haven’t yet heard about the exciting opportunities cooking up in Latvia, hold on tight, the determination and impressive innovation coming out of this awakening Baltic nation will surprise you!