In our insightful conversation with Simonas Krėpsta, a board member at the Bank of Lithuania, we delved into the transformative journey of Lithuania’s fintech sector. Simonas emphasized the importance of striking a balance between growth and compliance in the financial industry. He views compliance not just as a cost, but as a vital investment for long-term success, especially considering the lessons from the crypto sector’s focus on short-term gains.
As a key figure at the Bank of Lithuania, Simonas leads the supervision of the nation’s entire financial sector. He shared how a combination of potential and will, along with a robust IT background and collaboration between various institutions and the private sector, propelled Lithuania’s fintech ecosystem. Under his guidance, around 150 licensed fintech companies and an additional 150 providing support services continue to thrive, serving millions of Europeans. This growth, driven by a well-executed plan and collaboration, positions Lithuania as a unique and thriving hub for fintech innovation. This interview is a must for anyone who wishes to know how Lithuania is role-modelling the creation and sustenance of an vibrant and hungry fintech ecosystem
