Open Banking in Lithuania

Live (Regulated)

Lithuania implements open banking through PSD2 with Bank of Lithuania oversight, having attracted hundreds of fintech licenses as a major EU licensing hub.

Key Facts

Approach

Regulated

Regulatory Body

Lietuvos bankas (Bank of Lithuania)

Key Legislation

PSD2 / Mokėjimų įstatymas

Topics

Open Banking

Internet Penetration

88%

Data Scope

Payment accounts, Account information, Payment initiation, Confirmation of funds

Timeline

2015PSD2 adopted by the European Parliament and Council

2018PSD2 transposed into Lithuanian law; Bank of Lithuania licenses TPPs

Standards & Specifications

Berlin Group NextGenPSD21.3.12

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Open Finance in Lithuania

Lithuania transposed PSD2 into national law, with Lietuvos bankas (Bank of Lithuania) as the supervisory authority. Lithuania has become one of Europe's most significant fintech licensing hubs, with the Bank of Lithuania issuing hundreds of e-money and payment institution licenses to companies from across Europe.

The Bank of Lithuania's efficient licensing process, regulatory sandbox (LBChain), and CENTROlink payment system have attracted fintech companies seeking EU passporting rights. This has made Vilnius a growing center for open banking and payment innovation.

Lithuania's strategic approach to fintech regulation and its Baltic regional positioning make it a disproportionately influential player in the European open banking landscape relative to its population size.

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Related Resources

Open Banking in Europe Compare Lithuania with other countries EU Data Act Compliance

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