The European Merchant Bank (trading as EMBank) is a small Lithuanian digital neo bank established in 2018. The bank focuses on Small and medium-sized enterprises (SMEs) in the fintech space.[1]
| Company type | Private company |
|---|---|
| Industry | Financial services |
| Founded | December 14, 2018 in Vilnius |
| Headquarters | , |
Key people | Sarp Demiray (CEO) Ekmel Cilingir (Chairman of Supervisory Board) |
| Products | Commercial banking, fintech |
| Website | em |
History
editEMBank was founded in 2018 in Lithuania. On 14 December 2018, the bank received a banking license from the European Central Bank.[2][3][4][5]
By the end of 2021, Bank’s business loans reached €29.7 billion.[6] That same year EMBank managed to break even.[7][8]
In 2022, the bank was involved in a copyright dispute with the European Union about the use of the bank name. The bank is not part of the European Union, as it is a commercial bank based in Lithuania.[9]
Features
editThe bank offers a number of financial products and services:
- Direct access to banking services for both fintech and SMEs business.[10]
- The bank offers Banking as a Service (BaaS) and has a single Embedded Finance API to Fintechs. Safeguarding Accounts are another key product that the bank provides to Fintechs.[11][12][13]
- Lending facilities for SMEs.[14]
- SEPA payment services, via SEPA Instant Credit Transfers or SCT Inst which lets transfers in euros and SEPA Direct Debits which allows merchants to collect Euro-denominated payments from accounts in SEPA countries and associated territories.[15][16]
- Target2 payment system, such as SWIFT[17]
References
edit- ^ "European Merchant Bank - Products, Competitors, Financials, Employees, Headquarters Locations". www.cbinsights.com. Retrieved 2023-09-01.
- ^ Content, Sponsored (2022-01-14). "Why do we need banking as a service?". London Business News | Londonlovesbusiness.com. Retrieved 2023-09-01.
- ^ "European Merchant Bank ended the third quarter of 2021 with a 48% increase in the total loan portfolio". en.15min.lt. Retrieved 2023-09-01.
- ^ "European Merchant UAB granted a specialised bank licence". lb.lt. 2018-12-17. Retrieved 2023-09-01.
- ^ "European Merchant Bank prepares for launch in Lithuania". Delfi EN (in Lithuanian). Retrieved 2023-09-01.
- ^ "NetSol Technologies, Inc. (NTWK) Stock Price, News, Quote & History - Yahoo Finance". finance.yahoo.com. Retrieved 2023-09-01.
- ^ "EMBank (European Merchant Bank) Reports Record Growth in 2021: 13x Revenue Growth & €27.7M Growth in Loan Portfolio". EIN News. 2022-05-11. Retrieved 2023-09-01.
- ^ Shishmanov, Lazar (2022-05-04). "EMBank 2021 results: 13x revenue growth and EUR 27.7 million growth in loan portfolio!". European Merchant Bank UAB. Retrieved 2023-09-01.
- ^ "Action brought on 12 May 2022 — Mostovdrev v Council". eur-lex.europa.eu. 2022-07-04. Retrieved September 1, 2023.
- ^ "News Archives". FLCC (in Lithuanian). Retrieved 2023-09-01.
- ^ "European Merchant Bank Offering Banking as a Service API » FINCHANNEL". 2021-01-25. Retrieved 2023-09-01.
- ^ benwilliams (2021-12-16). "How Does Banking as a Service Work?". About Manchester. Retrieved 2023-09-01.
- ^ Williams, Ben (2022-01-04). "Why Do You Need A Safeguarding Account?". Retrieved 2023-09-01.
- ^ "EMBank launched a loan campaign to support small business owners". SCCL. Retrieved 2023-09-01.
- ^ "SEPA". European Merchant Bank UAB. Retrieved 2023-09-01.
- ^ "Banking payments reimagined: upcoming challenges for the European industry". Infinite Intelligence. Retrieved 2023-09-01.
- ^ Navakas, Naglis. ""European Merchant Bank" pajamos augo 13 kartų". vz.lt (in Lithuanian). Retrieved 2023-09-01.
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