aA
The Bank of Lithuania has been selected as the winner of the first Catalyst Award in the FinTech & RegTech Global Awards 2018 organised by Central Banking. The award was given and the Bank of Lithuania’s activities in the field of innovation were presented in Singapore, one of the most important global financial centres, the Awards running in unison with the central banks’ global summit focusing on new FinTechs and supervisory challenges, a press release from the Bank of Lithuania states.
Catalyst Award 2018
Catalyst Award 2018

According to Central Banking, a journal on the world's central banks, the judging panel was impressed with the central bank's broad-based approach to FinTech, and particularly with having created an environment favourable to development of financial technologies and open to FinTech companies quickly forming relationships with the central bank and integrating within the financial system.

'For an institution to transform from a hard-core regulator to a partner in sustainable development is not easy. And it is certainly not enough to simply say it. It takes the institution at all levels to embrace the strategic change and to deliver. I am proud of the Bank of Lithuania staff who made this change possible and noticeable. Without a doubt, we will continue shaping the financial sector in both Lithuania and the region to make it even more competitive and innovative,' said Marius Jurgilas, Member of the Board of the Bank of Lithuania.

The Catalyst Award looked to acknowledge a technology incubator, sandbox, accelerator or equivalent which has furthered the development of FinTech and/or RegTech within the central bank community and wider financial system.

Development of a FinTech-conducive regulatory and supervisory ecosystem as well as fostering innovations in the financial sector is among the Bank of Lithuania's strategic directions for 2017-2020. Together with other domestic institutions, the Bank of Lithuania aims to ensure that Lithuania becomes the FinTech hub in the Nordic-Baltic region.

The journal Central Banking awarded the Bank of Lithuania for the second time. This year already the central bank's website was named Website of the Year in the Central Banking Awards.

|Populiariausi straipsniai ir video

Latakas wins competition for Klaipeda Port CEO

Algis Latakas , former production director at Klaipedos Juru Kroviniu Kompanija (Klaipeda Stevedoring...

Leading tech companies in Lithuania: we are displaying crisis immunity

Entrepreneurship and export development agency “ Enterprise Lithuania ” indicates that due to...

Finance Minister: every quarantine week shrinks GDP by 0.5 percent

Economists estimate that every week of the quarantine in Lithuania, introduced to slow the spread of...

Lithuania's Devold says could make 100,000 medical coveralls by late summer

Norwegian-owned Lithuanian textile manufacturer Devold says it could producer around 100,000...

Tax revenue 15 percent short of target in March

The Lithuanian central government's tax revenue fell around 15 percent short of the target in March,...

Top news

Government decided: two more weeks of quarantine

The Lithuanian government on Wednesday extended the existing quarantine for another two weeks but...

Residents ordered to wear facemasks in public flouters face fines

It will be mandatory to wear facemasks in public in Lithuania as of Friday, the country's government...

4th week of quarantine: 912 coronavirus cases in Lithuania

On Wednesday morning Lithuania has already recorded 912 coronavirus cases since the start of the...

Korean in Vilnius: sometimes I feel I’m contained in jar of sardines

It was not an easy two weeks for Lithuanians forced to spend time inside their homes and apartments...

Latakas wins competition for Klaipeda Port CEO

Algis Latakas , former production director at Klaipedos Juru Kroviniu Kompanija (Klaipeda Stevedoring...

|Maža didelių žinių kaina