LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
The European alternative banking and payments solutions group, Contis Group, just announced that has set up a new division in Vilnius, Lithuania as part of its €1 million investment plan over the next two years.
Contis is a pan-European E-Money institution, regulated by the FCA, and Issuer of Visa Europe and Visa certified processor. For major brands across the EEA, it provides alternative banking, and full ‘end-to- end’ Visa card payment solutions, and can give full access via tailor-made APIs.
These services are already being used by well-known brands in the Nordic and Baltic region, such as the airline airBaltic.
Contis’ new Lithuanian division will be responsible for business expansion and relations in the Baltic and Nordic region. It will also handle interbank settlements in Euros for all of the group’s customers; customer service; project implementation; and the development and introduction of technology products for use in the Eurozone.
Contis Group’s Chairman of the Board, Peter Cox, commented:
Contis Group is unique in being a ‘one-stop’ shop for financial services. We offer businesses alternative banking, payment cards and processing services, including technological solutions, plus we operate all the necessary licences. When deciding where to invest, we focused on analysis of the regulatory environment and the technological opportunities available. In Lithuania, we found what we needed for the expansion of our business in the Eurozone. Moreover, the open attitude of the Bank of Lithuania and the numerous specialists who have experience in the banking sector also contributed significantly.
We expect the company to grow by approximately 150% within a year. This will open huge career opportunities for those team members who are about to join us”, concluded Mr Cox.
In setting up operations in Lithuania, Contis Group will be joining a number of international Fintech providers who have recently moved to the Baltic country. These include Revolut, a UK-based Fintech start up; the Chinese international settlement giant, International Business Settlement; and the payment platform developer, Moneta International.