K O H C C B N A L I K O H C C B N A L I Looking into the future of tech on the crossroads of hype and hope 8 Finance in Latvia Issue § 1 , September 2018 The biannual magazine of the Finance Latvia Association As a result of the development of the finance industry and growing cooperation between participants in the sector, as well as the sustained creation of innovations in financial technology, the Association of Latvian Commercial Banks has expanded its activities and this summer became the Finance Latvia Association. The organisation’s development strategy states its aim of becoming a broad platform for cooperation between finance, technology and related industries, as well as for interest representation in Latvia, the Baltics and Europe. Established in 1992, it is one of the oldest and most experienced business organisations in Latvia. Doma laukums 8A-6, Riga, lv-1050, Latvia +371 6728 4528
[email protected] Edited by Copywriter (writer.lv) Designed by Alexey Murashko © Finance Latvia Association, 2018 THE MESSAGE Living up to the growing challenges “The Baltics punch above their weight”. This was the his is a time of rapid local and global de- conclusion of a Tech.eu study called An Exploration of velopment in many spheres, where the the Startup Ecosystems, published last December. And boundaries between the finance sector, financial and other services, and the regu- indeed, as European Commission Vice-President Valdis latory environment are being blurred. So Dombrovskis put it during one of this year’s major it’s not surprising that the Finance Latvia tech-related forums, ”the Baltics are among the EU’s Association is also going through a trans- FinTech leaders, thanks to the early adoption of digital formation of its own.