Mintos Joins the Finance Latvia Association

The Finance Latvia Association continues its development strategy aimed at becoming a platform for cooperation amongst finance, technology and related industries to represent broad interests in Latvia, the Baltics and Europe.

The Finance Latvia Association welcomes three new associate members:

  • Intrum – industry-leading European credit management service provider
  • Microsoft Latvia – Microsoft representation in Latvia
  • Mintos Marketplace – Europe’s leading peer-to-peer lending platform

The Association has already proven its ability to facilitate high-level discussions — for instance, in 2017 it ensured a united position among market participants on the future of the European Union financial market and the development of financial technologies.

“The Finance Latvia Association vision for Latvia’s financial sector is to become a model for Europe in terms of cooperation and innovation. The basic principles and values of the Association for creating a unified platform and maintaining high-quality discussion on current issues are openness, responsibility and cooperation. We appreciate the dedication of the new associate members and their joint effort in the development of the industry and Latvian economy,” Sanda Liepiņa, Head of the Finance Latvia Association, describes the new associate members. “Questions which require collaboration between the financial and technology industries, as well as other related industries, are appearing more often on the Association agenda. Thus, closer cooperation will allow for quicker decision-making in matters essential to the financial sector.”

Martins Sulte, Mintos CEO and Co-founder: The finance sector is changing throughout the world, both as a result of opportunities offered by new technologies, and as a reaction to the needs of a new generation of clients and lifestyle changes. Today there are not only banks working in the finance sector, but also a string of various fintech startups, as well as such global tech giants as Amazon, Facebook and Google. We’re pleased that the Finance Latvia Association is also thinking progressively and reacting to changes in the global market by also inviting other finance sector players to join its ranks. With one association representing the common interests of the whole Latvian finance sector it will be possible to create even better products for consumers, and mark the region on the world map as a powerful, modern and transparent financial service provider. Mintos is honoured to be the first fintech startup to join the Association. It’s a welcome acknowledgment of our accomplishments, and affirms that we’re working in the right direction.” 

The Finance Latvia Association invites technology companies, fintech start-ups, experienced finance companies and businesses in related industries to join the organization by becoming associate members or members.

Every associate member or member must prove their readiness to adhere to the Social Charter and Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) initiatives. It is essential that the goals, interests and values of associate members or members coincide with the basic aims and principles of the Finance Latvia Association. Benefits of associate member or member can be found at the home page.

About the Finance Latvia Association

The Finance Latvia Association is an open minded non-profit organization for broad and joined-up representation of finance, technology and related industries in Latvia.

Our vision – the Latvian financial industry pursues broad partnerships and leads in innovation in Europe. 

The basic principles and values of the organisation in creating a unified platform and maintaining high-quality discussions on topical issues are openness, responsibility and cooperation.

July 12, 2018 – the annual general meeting endorsed change of name from the Association of Latvian Commercial Banks to the Finance Latvia Association.

Finance Latvia Association missions:

Development – the industry adheres to the highest international standards and provides competitive, modern and European – facing financial services to support the growth of the economy;

Technology – Latvian financial industry is agile and uses technology to enable access for European customers;

Compliance – achieving the highest “anti-money laundering and combating the financing of terrorism” (AML/CFT) compliance standards among member banks within the next 2 to 3 years.



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