Two years of implementation of Fintech Guidelines: growing number of clients served and income of companies in the sector
The financial technology sector in Lithuania continued to grow last year: the number of customers served in the EU increased and exceeded expectations, and the income of companies were rising. At the same time, well-thought-out regulatory rules and a balanced approach help to achieve the objectives set out in the Fintech Development Guidelines, as highlighted in a meeting with the representatives of the public and private sector at the Ministry of Finance.
Two years ago, the Ministry of Finance and its partners approved the Lithuanian Fintech Sector Development Guidelines for 2023-2028 and the Action Plan, which aims to make Lithuania an internationally recognised and recognisable European financial technology hub of high added value by 2028.
“The objectives set out in the Action Plan are being implemented successfully: the number of clients served by financial technology companies operating in Lithuania has increased from 29 million to 30.7 million, the number of jobs created by this business is increasing and the companies are planning expansion. In order to maintain growth rates, it is necessary to improve the interaction between market participants and regulation", Vice-Minister of Finance Kristupas Vaitiekūnassays.
According to him, growing competition in the financial sector is beneficial for every consumer of financial services: this leads to a wider choice of services, lower prices and encourages companies to develop more customer-oriented, innovative products.
A sufficient supply of talent and accumulated experience contribute to the successful development of financial technologies, with over 7,500 professionals working in this sector in Lithuania.
Lithuania is also one of the world's leading countries in terms of the availability of digital and technological skills, with more than 22,000 students studying in study programmes relevant to the financial technology sector. This is particularly important when it comes to developing professionals that meet the needs of the market.
The Fintech Sector Development Plan, adopted last year, consists of a total of 59 actions, of which 14 have already been completed, 45 are ongoing and 7 indicators are intended to assess the monitoring of the implementation of the Action Plan and are to be calculated on an annual basis.
More information about the report on the implementation of the Fintech Guidelines is available here.
Last updated: 13-06-2025
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