European Merchant Bank

The European Merchant Bank (trading as EMBank) is a Lithuanian digital neo bank established in 2018.[1] The bank focuses on Small and medium-sized enterprises (SMEs) in the fintech space.[2][3][4]

History

EMBank was founded in 2018 in Lithuania. On 14 December 2018, the bank received a banking license from the European Central Bank.[5][6][7][8]

By the end of 2021, Bank’s business loans reached €29.7 billion.[9] That same year EMBank managed to break even.[10][11][12]

In 2022, the bank was involved in a trademark dispute with the mBank and the European Union Intellectual Property Office regarding the bank's name.[13][14]

Features

The bank offers a number of financial products and services:

• Direct access to banking services for both fintech and SMEs business.[15]
• 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.[16][17][18]
• Lending facilities for SMEs.[19]
• 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.[20][21]

Membership and activities

The bank has been a member of Lithuanian Banking Association since establishment, and a member of FinTech Hub LT and Fintech LT associations.[22]

EMBank has also partnered with Mastercard.[23]

The company is a regular participant of specialized conferences and meetings as Money2020 (Amsterdam, Las Vegas), Finovate (London, New York),[24] (Amsterdam) etc.[25]

See also

• List of banks in Lithuania