At the Largest Fintech Conference – Discussions on Future Technologies

[[date]]

2017 11 29

[[ratings]]
0
stock-exchange-2648118_960_720.jpg

More than 800 financial market policy makers, academics and business representatives from Lithuania, USA, Sweden and other countries, guests from all over the world and Lithuania will gather at the international Fintech Conference in Vilnius. On 30 November the largest ever event on financial technologies will take place, which is organised by the Ministry of Finance together with the Bank of Lithuania and association “Tech City Lithuania”.

“An ambitious goal to become the Fintech leader in the Baltic-Nordic region has already been globally noticed. When half a year ago at the international conference in Paris we said that we would become Fintech leaders in the region, many shrugged their shoulders. And now we receive questions from the neighbouring countries on how we have succeeded over such a short time to appear on the Fintech map. In order to attract the Fintech investors, we have created a favourable legal environment, attractive incentives for the development of companies. The fact that a lot of guests from all over the world came to this Conference once more proves that we have been successful,” states Minister of Finance Vilius Šapoka.

Member of the Board of the Bank of Lithuania Marius Jurgilas emphasizes that since last year already Fintech companies have been issued several dozens of operating licences, and global companies choose Lithuania as their registered office: “The investors familiar with the regulator open to dialogue and the investment-friendly environment already tell others about their positive experience in Lithuania. We see a great interest and this is only the beginning in making efforts that also population and business would enjoy the benefits of innovations and increasing competition”.

According to one of the Conference speakers, Nobel Prize winner R. J. Shiller, Fintech ultimately helps promote both economic abundance and the more equal sharing of that abundance. Not all inequality is bad, for some of it is a proper reward for hard and effective work. What is bad is inequality that is random, gratuitous. Fintech helps alleviate such inequality. Fortunately, Fintech is blossoming today just as public concerns with economic inequality are growing.

 “Financial technology and innovation are giving us more control over our financial lives and providing financial opportunity to more people each day. Technology is fuelling an accelerating evolution in the banking and finance that is helping products and services to deliver greater value to consumers and is allowing businesses to operate more efficiently than ever before. The best part is that we are at the beginning of this wave of progress. Those are good reasons to be optimistic,“ states Keith Noreika, outgoing U.S. Comptroller of the Currency.

Lithuania is attractive to the financial technology and innovation sector due to its flexible regulation system. The companies may make use of the assistance offered by the regulator, and the licencing process is one of the fastest among the EU states. Many businesses are also attracted by a business-friendly environment and a world-class information and communication technology infrastructure available in Lithuania.

Next year it is planned to establish a digital Fintech innovation office, which will take care of the development of the financial technology ecosystem and introduction of the Lithuanian jurisdiction abroad. The Bank of Lithuania is also creating a new pilot financial innovation environment that will enable the companies to improve innovative financial products and business solutions. Also, creation of the pilot environment of the Blockchain technology is planned.

The Fintech Conference will include keynote speeches by the world-wide recognised financial experts – Nobel Prize winner Robert J. Shiller, outgoing Comptroller of the Currency of the United States of America Keith Noreika and many other financial market experts of the world, Europe and Lithuania.

The Fintech Conference organised last year brought together about 200 people, this year more than 800 participants from all over the world are expected to attend the Conference.

Agenda of the Conference: http://techcity.lt/fintech/

Facebook: http://bit.ly/2Aifeec