"The future economy is unthinkable without a strong and powerful fintech sector. Latvia Fintech Forum inspires both policy makers and entrepreneurs, helping them discover new pathways towards the fintech sector's expansion and meaningful contribution to economic growth,"
highlights Mārtiņš Kazāks, Governor of Latvijas Banka.
The forum will be opened by Viktors Valainis, Minister of Economics. The Fintech Forum is organised by Latvijas Banka, in cooperation with the Investment and Development Agency of Latvia (LIAA) and the Investment and Tourism Agency of Riga (RITA). This year, the Fintech Forum discussions will centre around analysing the development of the fintech sector in Latvia and exploring the fintech sector trends both in Europe and globally.
"Latvia's financial market supervisor has established an innovative regulatory testing environment enabling fintech companies to verify their products and services before their licencing. This provides advantages for companies already operating in Latvia and facilitates the attraction of foreign investment in this sector. Fintech development is therefore one area where we see extensive growth potential for start-ups. This is a quickly scalable business area where we can be competitive on a global level. It is no coincidence that approximately 25% of all Latvian start-ups operate within the fintech sector,"
emphasises Raivis Bremšmits, Director General of LIAA.
In the forum's first panel discussion, Mārtiņš Kazāks, Governor of Latvijas Banka, Fredis Bikovs, Director of RITA, and financial sector representatives Pēteris Daliņš, Vice-President of GoCardless SIA, and Valdis Siksnis, Chairman of the Management Board of Indexo Banka AS, will assess the fintech sector's achievements in Latvia, and outline our opportunities and steps ahead. The topic is especially relevant as it is time to develop the new Fintech strategy for Latvia.
Fredis Bikovs, Director of RITA, states:
"The fintech sector has always been, and continues to be, significant for Riga. Our city has all the preconditions necessary for fintech companies to grow and realise their potential. These range from a favourable regulatory environment and municipal support programmes for the start-up ecosystem's development to human capital and talent – significant elements for the sector's growth." He highlights that support from regulators and innovation facilitation are key factors helping companies to expand and become internationally competitive.
The participants in the forum's second panel discussion will focus on the current fintech trends, while evaluating which innovations are likely to have the greatest impact on the sector's development over the next decade. Advancement of AI brings about the most impactful changes in the financial sector and the economy as a whole. In light of this, the forum's third panel discussion will be centred around the implementation of AI within the financial sector.
A significant part of this year's Fintech Forum will be dedicated to the fintech start-up competition organised by accelerator Tenity. The audience will have the opportunity to watch the competition finalists' pitches, as well as the award ceremony.
At the end of the forum, the attendees will have the chance to network and build connections with the representatives of the fintech ecosystem both from Latvia and other European countries.
The Fintech Forum will take place at Mazā Ģilde, Amatu iela 5, in Riga. Anyone interested in participating in the forum must register at fintechforum.lv. The forum programme is available on the same website. Attendance is free of charge.
This year, Latvia Fintech Forum will be held for the third time, bringing together around 250 representatives of the fintech ecosystem. These include the sector's entrepreneurs, potential participants in Latvia's fintech market, investors, consultancy and legal service providers, policy makers in the areas of the financial sector and start-up development, and others.