Baltic c.bankers to discuss fintech development

VILNIUS – The governors of the central banks of Lithuania, Latvia and Estonia, Vitas Vasiliauskas, Ilmars Rimsevics and Ardo Hansson, are meeting in Kaunas this week to discuss the development of financial technologies (fintech) and cooperation in the field of research.

The meeting in Kaunas on July 17–18 should also address relevant economic issues as well as ongoing and future structural reforms in the Baltic states, aimed at increasing competitiveness, stimulate economic growth, reduce social exclusions, and encourage more efficient use of financial and human resources, the Bank of Lithuania said.

The participants of the meeting will focus on financial technology, the driver of innovation and development in the financial services sector, as well as related issues, such as instant payments. Allowing real-time settlements (funds will be credited to the payee within seconds), instant payments should become available in Lithuania already this year.