Financial Sector Development
Latvia’s economy continues to grow at a fast pace
Latvia's economy continued to show very rapid growth in Q3 2018, as gross domestic product (GDP) rose by 4.8% year-on-year. This increase was due to output growth in construction, retail, and industrial trades. Compared to the previous quarter, GDP has grown by 1.8%, which is the fastest quarterly growth rate since Q4 2016.
Second fintech accelerator “Wise Guys Fintech” has started in collaboration with Swedbank
On 29 October, the leading B2B accelerator Startup Wise Guys launched the second fintech startup accelerator program “Wise Guys Fintech” in collaboration with Swedbank. The program has received around 200 applications – double the number of the first accelerator. The organizers have selected nine strong teams to compete to develop their business idea in a three-month intensive program. Each team will receive an initial funding of up to EUR 30 000, with the possibility of additional investment for further development of EUR 200 000, should they continue cooperation with Swedbank.
Intrum, Microsoft Latvia and Mintos join Finance Latvia Association
Finance Latvia Association welcomed three new associate members that joined 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 expansion is part of Finance Latvia Association’s development strategy, to become a platform for cooperation across finance, technology and related industries to represent their interests in Latvia, the Baltic States and Europe.
Finance Latvia Association and Finance Finland in partnership with European Commission are organizing a conference on “Sustainable Finance in Nordic-Baltic”
The conference will happen in Helsinki, Finland on 9 November and more than 100 public and private sector representatives from the Baltic-Nordic region and the broader responsible finance and investment community will be attending.
The goal of the event is to foster an action-focused dialogue between industry and public sector experts regarding an EU strategy for sustainable finance, how to implement that strategy, and both traditional and innovative approaches to financing sustainable investments in the region.
High – Level Technical Workshops: “RegTech and Operational Solutions for Effective Public – Private Partnerships to Disrupt National and Cross – Border Financial Crime”
On 23 November, Finance Latvia Association and ACAMS Baltics Chapter, in partnership with Microsoft Baltics and Citadele in Riga, will organize a full-day event with two workshops focused on National and Regional Know Your Customer (KYC) Utilities – from concept to implementation and Anti-Financial Crime Partnerships. The event will feature speakers and panelists from Parliament, the Ministry of Justice, FIU, Nordic KYC Utility project, the Latvian Chamber of Commerce, COBALT, PWC International, Thomson Reuters, the Ministry of Environmental Protection and Regional Development, Microsoft, ACAMS Baltics Chapter Board, Swedbank, the Company Register of Latvia, the Lithuanian Registers Centre, among others.
Learn More and Register