FintechCashier proudly extends its reach into Eastern Europe with important partnership and announcement by the Bank of Lithuania.

Wednesday, 9 February 2022

UK-based digital payment solutions leader, FintechCashier, is changing the way SMEs  are doing business across the globe. In a latest development, the Bank of Lithuania  has prepared and approved its position on the right of electronic money institutions  (EMIs) and payment institutions (PIs) to access bank accounts opened with credit  institutions.

Shalom Dodoun, Founder & Director of Fintech Digital Solutions says, “FintechCashier has  proudly been selected as a preferred partner of Bank of Lithuania and along with our

 Fintech Digital Solutions Limited. Company No. 13183254. Headquarters: 2 Portman Street, W1 6DU, London, United Kingdom. www.fintechcashier.com

unprecedented efficiency we are now able to offer clients in this region, three types of  Euro bank accounts. A current account, an account for safeguarding funds of EMI/PI  clients as well as an account for the execution of payments by EMI/PI clients.”

This position by the Bank of Lithuania is innovative and leads the way forward. “We  hope that this position, agreed on with all market participants, will provide more  clarity and help Fintechs operate more smoothly and allow banks to improve their  cooperation with such companies, while maintaining high risk management  standards,” said Jekaterina Govina, Director of the Supervision Service of the Bank of  Lithuania.

Such decisions are often based on banks’ goals to properly manage the risk of money  laundering and/or terrorist financing. The position aims to ensure that while managing  these risks, banks do not violate the right of EMIs/PIs to have accounts with credit  institutions and to access them.

The credibility and transparency of UK-based Fintech Digital Solutions was further  enhanced when they were granted a full license by the Financial Conduct Authority  (FCA) in 2021 as an Electronic Money Dealing (EMD) Agent. They are fully licensed under  the Electronic Money Institution (EMI) to issue e-money and provide fully regulated payments services to its clients across the globe.

About Fintech Digital Solutions Ltd.

Fintech Digital Solutions recently launched FintechCashier, a payment gateway and solution  provider, which guarantees a seamless, transparent, and fast portal for their clients to  receive the transaction related funds of their customers, to manage their cash flow, and to  make settlements. FintechCashier supports a wide spectrum of services, ranging from credit  card processing, exchange, eCommerce and wire solutions. www.fintechcashier.com