Seven Lithuanian companies and Vaiva Amulė, Head of Fintech Hub LT, were honored at the Lithuanian Fintech Awards, which took place for the third time. The only fintech awards in the country featured well-known names and ambitious newcomers.
Companies and people were nominated in seven categories in the competition organised by the Fintech and Sustainable Innovation Centre Rockit. In six categories, the winners were selected by a commission of 15 members, which included representatives of the Bank of Lithuania, the Ministry of Finance, national and foreign banks, venture capital funds, legal advisors, associations and companies. Also, one nomination reflected the public’s votes.
A total of 90 applications were submitted to the nominations, significantly more than last year when 70 applications were received.
The payment services company TransferGo was highlited as the company that had the biggest impact in the fintech sector. It was recognised for its swift reaction to the war in Ukraine. The company provided smooth access to financial services for people leaving the war-torn country, and supported volunteering, fundraising, and emergency initiatives.
Anastasia Fomenko, Head of Regional Development at TransferGo, said that last year the company’s services related to Ukraine were used by 400,000 people who made 4 million transfers. “The transfers were made not only by Ukrainians but also by Lithuanians, Poles and others who contribute to the aid initiative. We will continue to strive to ensure that money transfers do not cause any worries to migrants anywhere in the world,” Fomenko said.
Vaiva Amulė, Head of Fintech Hub LT, was recognised as Fintech Leader of the Year. According to her, the objectives of the association are to create and develop a dialogue between the fintech community and the regulator and government institutions, to create a unified direction in the sector, and to seek leadership in the export of fintech services to Europe.
“The recognition of Lithuania as a fintech country in the international sphere shows that we are headed in the right direction. This is why I dedicate this award to the fintech community because it is an appreciation of all our hard work. This award is a great incentive for fintech companies to continue to grow successfully, provide innovative services, and develop new products and partnerships, which will benefit not only people in Lithuania, but also throughout the European Union,” says Ms Amulė.
The first digital bank of Lithuanian capital, SME Finance, took the award for Company of the Year. This time, two nominees were named Enablers of the Year: Amlyze and iDenfy, which provide solutions for reputation, compliance, financial crime, and money laundering.
Finci, recognized as Innovator of the Year, applies artificial intelligence, blockchain, the Internet of Things, biometrics, and robotics in the fintech sector.
Paystraxt became the winner in the nomination for Growth Story of the Year − its consistent work, expertise, and creativity were evaluated, features which led to rapid but sustainable growth in customers and revenues.
Montonio, a company that provides e-commerce solutions and has over 5,000 customers, received the most votes from the public.
Lithuanian Fintech Awards is part of the event that captures the achievements of the year and presents an overview of The Fintech Landscape in Lithuania. At the end of 2022, there were 263 fintech companies in Lithuania, including licensed and unlicensed financial technology institutions. The sector employed 7,000 people, 18.6% more than in 2021.