Fintech | Leaders

Sector leaders series: Meet Vaiva Amulė

2023/02/22

Are you curious about Lithuania’s booming fintech industry and the reasons behind its high-speed growth? If so, find out what Vaiva Amulė, a fintech industry leader and Head of Fintech Hub LT association has to say about the latest trends and discover new opportunities in the fintech world.

What are the reasons for the high-speed growth of the Lithuanian Fintech Industry?

Everything began with the idea that Lithuania could be the European fintech centre. The author of this idea was then the member of the Bank of Lithuania Board – Marius Jurgilas. This idea received great support not only at the Bank of Lithuania but also at other Governmental institutions. Eventually, good conditions for establishing fintech companies in Lithuania were created. I think that a great push forward for Lithuanian fintech was also given by the arrival of Revolut. It was an important message to the international financial market, that Lithuania is a reliable country for establishing and growing financial businesses. Eventually, fintech businesses grew in Lithuania – services, products, that are used not only in Lithuania but in the whole of Europe, were created. I believe this is the reason why Lithuania became such a valued country internationally – as a place where modern financial solutions are born. Of course, the growth would have not occurred without the assistance of qualified specialists, who joined different fintech companies. 

How can one join and be a part of the Fintech HUB association? 

Fintech Hub LT association eagerly awaits all licensed fintech companies. Because we actively cooperate with the Bank of Lithuania, Governmental institutions, it is very important for the association to know the opinion of fintech businesses about the difficulties they encounter when developing their business in Lithuania, whether they correctly understand the changes foreseen by the laws and the current legal basis. Also, companies which work or provide services to fintech companies are very welcome. Fintech Hub LT aims to be the axis which connects different members of the fintech community and encourages growth in the sector. 

 

Where do you see Lithuania’s fintech in 10 years?

I believe that we will successfully maintain leadership and we will remain the fintech centre in Europe. Speaking more globally, I think, that Lithuania will be one of the main countries in world, where the newest financial solutions are born. 

What is the most prospective FinTech startup you are thinking of that will gather a significant market cap in the world?

 Last year the income of licensed fintech companies grew significantly. There are examples in Lithuania where, in comparison to 2021, the companies recorded 400 to 500% growth. Half of the licensed fintech companies in our country are profitable. Therefore, the numbers show, that there are many companies with great potential in Lithuania, and identifying a single one would be difficult. I think many of the businesses have great potential. 

 

Blitz questions

  • Driving a car or having a driver? Driving is my type of meditation
  • Invisibility or travel in time? – Travel on time. 
  • Relaxing holidays next to the pool or active adventure hiking and exploring? – Silence retreat in the nature 

Personal Questions 

How many times have you tried to change the path in your career? 

  • Many, but not too many. Fun fact: at some point in my life had my own nightclub. 🙂