European Merchant Bank

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

History

EMBank was founded in 2018 in Lithuania. On 14 December 2018, the bank received a banking license from the European Central Bank.

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

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.

Features

The bank offers a number of financial products and services:

• Direct access to banking services for both fintech and SMEs business.
• 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.
• Lending facilities for SMEs.
• 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.

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.

EMBank has also partnered with Mastercard.

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

See also

• List of banks in Lithuania

References