How to Prepare for Future Challenges in the FinTech World?
events date
2019 — 10 — 30
events date
13:30-17:00 (registration from 13:00)
events date
Hilton Garden Inn Vilnius City Centre (Gediminas av. 44B)

Law firm COBALT kindly invites you to the FinTech conference held on October 30: How to Prepare for Future Challenges in the FinTech World? #FinTechConf. 

Lithuania is truly on the World Map of FinTech. The growth in the country's FinTech sector is much faster than in any other sector of economy. It is forecasted that with the increased interest from FinTech companies abroad, the FinTech boom in Lithuania will not drop in 2020 either.

Nevertheless, the existing FinTech companies encounter significant challenges in our country. Financial regulator actively monitors financial market participants and may fine them for improper safeguarding of funds, AML violations, failure to observe mandatory reporting obligations, etc.

Thus, after obtaining a payment institution or electronic money institution license from the Bank of Lithuania, FinTech companies cannot relax: they must report regularly, update their internal procedures, assess internal and external risk factors, apply the most effective risk management measures, take special account of the GDPR requirements. They need to know and understand well how to navigate through a variety of legal-regulatory issues.

In addition to these emerging challenges, after being licensed by a financial institution, FinTech companies also come face to face with various business development issues - how to build a successful business by employing available talents and resources? How to open accounts with credit institutions, where to keep funds? What business models to use, how to effectively attract customers, what marketing strategies to choose in order to stand out from other market players offering similar services?

This will be the event where FinTech lawyers, representatives of FinTech companies and the Bank of Lithuania as well as marketing professionals will share their experiences and insights on how to make FinTech companies compliant, and discuss other issues relevant to all FinTech companies operating and seeking to settle in Lithuania as well as to investors interested in them.


Moderator: Justina Milašauskienė, Senior Associate at COBALT

13:00 – 13:30 Registration & Coffee

13:30 – 13:35 Welcome & Keynote Address

13:35 – 14:00 How to build a business model for Fintech?

Titas Budrys, Chairman of the Board of association Fintech Hub LT, Co-founder and CEO of Seven Seas Europe

14:00 – 14:30 Regulatory Reporting and Compliance Challenges

Rūta Merkevičiūtė, Head of Division for E-money and Payment institution supervision, Bank of Lithuania

14:30 – 15:00 What Does GDPR Mean for FinTech?

Renata Vasiliauskienė, Senior Associate, COBALT

15:00 – 15:15 Coffee Break & Networking

15:15 – 15:45 FinTech Marketing Strategies & Trends

Tomas Nemura, Chief Marketing Officer, MoQ

15:45 – 16:15 What FinTech Legal Issues Should Never be Overlooked?

Justina Milašauskienė, Senior Associate, COBALT

16:15 – 16:30 Q&A Session

16:30 – 16:45 Closing Remarks, Coffee & Networking


  • Justina Milašauskienė is a Senior Associate in the Banking and Finance Practice Group at COBALT. She has advised Lithuanian and foreign clients on banking and finance, regulatory, corporate law and dispute resolution matters. Justina acted for a number of companies applying for FinTech licences, constantly leading engagements between FinTech companies and other financial institutions, supporting the growth of FinTech giving legal advice on various regulatory matters. From her wide-range understanding of the FinTech industry, Justina is constantly orchestrating FinTech events. Nevertheless, during her legal practice, Justina Milašauskienė has advised clients in a number of cross-border banking and corporate projects, M&A transactions, represented clients in all court instances.
  • Rūta Merkevičiūtė is a Head of Division for E-money and Payment institution supervision at Bank of Lithuania, responsible for supervising over 100 E-money and Payment institutions. She is also a member of Lithuanian’s Payment council group, which is dedicated to investigate to further implementation of Open Banking in Lithuania. She has professional legal qualification as an attorney-at law and for the past 10 years has been working both in private sector and financial sector’s supervision in the areas of responsibility that include AML, payments, open-banking, lending, crowdfunding, investment services and transposition of EU Directives such as PAD, PSD2 and AMLD4. Previously, she took part in developing regulatory framework for FinTech industry in Lithuania as a member of interinstitutional working group for the Action Plan on FinTech industry. She also managed “Newcomer programme" for consultations with potential and already licensed entities and led Regulatory Sandbox in Bank of Lithuania allowing entities to test financial innovations in a live environment under the guidance and supervision of the Bank of Lithuania.

  • Mr. Titas Budrys is co-founder and CEO of Seven Seas Europe, a licensed Electronic Money Institution in Lithuania and subsidiary of Seven Seas Global Group Limited, Hong Kong. Mr. Budrys is also a Chairman of the Board of association Fintech Hub LT, which unites 26 Fintech industry participants in Lithuania. Previously, Mr. Budrys worked as an Adviser to Board Member at the Central Bank of Lithuania, which is part of Eurosystem of Central Banks in the European Union and has taken parts in the projects in the areas of payments and research. He also has some experience in Investment Banking within the DNB Bank. Titas holds a Master of Arts degree in Financial Economics from the University of St. Andrews.
  • Tomas Nemura is a partner at Choco Agency, head of digital advertising course at Atomic Garden Vilnius and Chief marketing officer at MoQ. Tomas has been running MoQ's marketing efforts for the last 12 months boosting its user base from 10,000 users to 113,000 users.
  • Renata Vasiliauskienė is a Senior Associate at COBALT. Her main practice areas include privacy and data protection, employment and corporate law. Renata also has an experience in various e-commerce matters, including consumer protection, as well as EU packaging and labeling areas. Renata provides consultations to the clients in all aspects of her practice areas, represents clients in state institutions and drafts related documents. She also participates in seminars and conferences as a speaker, as well as actively attends training and courses in other areas of law. 


Please register for participation by filling in the registration form by 25th October 2019 (Friday), 17:00.

Participation in the event is free, but seats are limited.

Conference language – English.

Please be advised that the personal data provided in this form will be processed as set out in this Notice. You should familiarise yourself with it before submitting your data.

If you have any additional questions, please feel free to email us at or call +370 5 25 00800.

We are looking forward to seeing you at the conference!