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Payments General

Bank of Lithuania's sandbox seeks fintech startups

Monday 1 October 2018 | 12:29 PM CET

The Bank of Lithuania is calling out to fintech startups and established businesses to test their innovations in a live environment under its guidance and supervision.

The central bank will offer consultations, and financial products or business models will be tested with real customers.

Sandbox participants will also be entitled to certain reliefs pre-agreed with the regulator, including a temporary lifting of some supervisory requirements.

Once the testing phase has proved successful, companies will be able to transfer their services to a regular operating environment. Submissions will open from 15 October 2018. 

Intersted in learning more about the fintech strategies of The Bank? Read our interview with Marius Jurgilas, Member of the Board of the Bank of Lithuania.

More: Link
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