Finance Latvia Association continues its development strategy aimed to become a platform for cooperation amongst finance, technology and related industries for broad interest representation in Latvia, Baltics and Europe.

Finance Latvia Association welcomes three new associate members joining in mid-October:

  • Intrum – one of the industry-leaders of Credit Management Services in Europe;

  • Microsoft Latvia – representation in Latvia for Microsoft;

  • Mintos Marketplace – global online marketplace for loans.

The Association has already proved its ability to facilitate high-quality inclusive discussion — for instance, in 2017 we ensured a joint position among market participants represented by nine finance and related industry associations about the future of the European Union’s financial market and the development of financial technologies (FinTech Action Plan).

“The Finance Latvia Association’s vision is for Latvia’s finance and related sectors to pursue broad partnerships and lead in innovation in Europe. The basic principles and values of the Association in creating a unified platform and maintaining high-quality discussions on topical issues are transparency, partnership and accountability. We appreciate dedication of new associate members for joint efforts aimed at the development of the industry and Latvian economy,” Sanda Liepiņa, the CEO of Finance Latvia Association, said in describing new associate members. “Issues are appearing more often on the association’s agenda for which we need collaboration between the financial and technology industries, as well as other related industries. Thus, closer cooperation will allow for quicker decision-making in matters essential to the finance and related sectors.”

Ilva Valeika, Managing Director at Intrum Baltics: “Intrum Latvia is honored to become a member of the Finance Latvia Association as its goals are perfectly in line with our vision. By joining the Association, we not only become a full-time member of the finance sector with access to information, possibility to voice our opinion and discuss it with other experts, but we can also join forces to establish new industry standards and change the opinion of the credit management industry as a whole. Intrum as the Europe’s leading credit management services provider with about 500 employees in Baltics where apart core business activities all group services are supported by international business services centers in Riga and Vilnius, highly values the Association’s role in helping to develop such centers, thus creating an environment for more competitive entrepreneurship and economic growth.”

Dr.sc.ing Renāte Strazdiņa, Country Manager, Microsoft Baltics, CEE Multi-Country: "The financial sector is one of the greatest examples where technologies not only simplify, streamline and accelerate business processes, but completely change the sector to create new business models and new companies. Technology and financial services converge to create more convenient, secure and faster services for customers. It is logical, therefore, that the financial sector associations also include technology companies that develop solutions and provide technology platforms for the financial sector. Along with the large data analytics and artificial intelligence development, the potential for growth in this industry will increase further. "

Martins Sulte, Mintos CEO and Co-founder: “The finance sector is changing throughout the world, both as a result of opportunities offered by new technologies, and as a reaction to the needs of a new generation of clients and lifestyle changes. Today there are not only banks working in the finance sector, but also a string of various fintech startups, as well as such global tech giants as Amazon, Facebook and Google. We're pleased that the Finance Latvia Association is also thinking progressively and reacting to changes in the global market by also inviting other finance sector players to join its ranks. With one association representing the common interests of the whole Latvian finance sector it will be possible to create even better products for consumers, and mark the region on the world map as a powerful, modern and transparent financial service provider. Mintos is honored to be the first fintech startup to join the Association. It's a welcome acknowledgment of our accomplishments, and affirms that we're working in the right direction.” 

 

The Finance Latvia Association invites technology companies, fintech start-ups, experienced finance companies and businesses in related industries to join the organization by becoming associate members or members.

Every member has to prove their readiness to adhere to the Social Charter and Policy guidance and guidelines on anti-money laundering, countering terrorism financing and enforcement of sanctions. It is essential that the goals, interests and values of members coincide with the basic aims and principles of the Finance Latvia Association. Benefits of associate member or member can be found on our website.

 

About Finance Latvia Association

 

Finance Latvia Association is an open minded non-for-profit organization for broad and joined-up representation of finance, technology and related industries in Latvia.

Our vision - Latvian financial industry pursues broad partnerships and leads in innovation in Europe. 

The basic principles and values of the organization in creating a unified platform and maintaining high-quality discussions on topical issues are transparency, partnership and accountability.

July 12, 2018 - the extraordinary general meeting endorsed change of name from Association of Latvian Commercial Banks to Finance Latvia Association.

Finance Latvia Association missions:

Development – the industry adheres to the highest international standards and provides competitive, modern and European facing financial services to support the growth of the economy;

Technology - Latvian financial industry is agile and using technology to enable access for European customers;

Compliance - achieving the highest anti-money laundering and combating the financing of terrorism (AML/CFT) compliance standards among member banks within the next 2 to 3 years.

Contact person: Kristīne Mennika, Head of Strategic Communications, Finance Latvia Association

+37126528533, kristine.mennika@financelatvia.eu

Members

Associate members