Company:European Merchant Bank

From HandWiki
EMBank European Merchant Bank
TypePrivate company
IndustryFinancial services
FoundedDecember 14, 2018; 5 years ago (2018-12-14) in Vilnius
Headquarters
Vilnius
,
Lithuania
Key people
Sarp Demiray (CEO), Ekmel Cilingir (Chairman of supervisory board)
ProductsCommercial banking, fintech
Websiteem.bank

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]

History

EMBank 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

The 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

  1. ↑ "European Merchant Bank - Products, Competitors, Financials, Employees, Headquarters Locations". https://www.cbinsights.com/company/european-merchant-bank. 
  2. ↑ Content, Sponsored (2022-01-14). "Why do we need banking as a service?" (in en-GB). https://londonlovesbusiness.com/why-do-we-need-banking-as-a-service/. 
  3. ↑ "European Merchant Bank ended the third quarter of 2021 with a 48% increase in the total loan portfolio" (in en). https://www.15min.lt/en/article/tribune/european-merchant-bank-ended-the-third-quarter-of-2021-with-a-48-increase-in-the-total-loan-portfolio-1240-1599560. 
  4. ↑ "European Merchant UAB granted a specialised bank licence" (in en). 2018-12-17. https://www.lb.lt/en/news/european-merchant-uab-granted-a-specialised-bank-licence. 
  5. ↑ "European Merchant Bank prepares for launch in Lithuania" (in lt). https://www.delfi.lt/en/business/european-merchant-bank-prepares-for-launch-in-lithuania-82409617. 
  6. ↑ "NetSol Technologies, Inc. (NTWK) Stock Price, News, Quote & History - Yahoo Finance" (in en-US). https://finance.yahoo.com/quote/NTWK/. 
  7. ↑ "EMBank (European Merchant Bank) Reports Record Growth in 2021: 13x Revenue Growth & €27.7M Growth in Loan Portfolio" (in en-US). 2022-05-11. https://www.einnews.com/pr_news/571823282/embank-european-merchant-bank-reports-record-growth-in-2021-13x-revenue-growth-27-7m-growth-in-loan-portfolio. 
  8. ↑ Shishmanov, Lazar (2022-05-04). "EMBank 2021 results: 13x revenue growth and EUR 27.7 million growth in loan portfolio!" (in en-GB). https://em.bank/blog/press-releases/embank-2021-results-13x-revenue-growth-and-eur-27-7-million-growth-in-loan-portfolio/. 
  9. ↑ "Action brought on 12 May 2022 — Mostovdrev v Council" (in en). 2022-07-04. https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:62022TN0261:EN:PDF. 
  10. ↑ "News Archives" (in lt-LT). https://flcc.lt/category/news/. 
  11. ↑ "European Merchant Bank Offering Banking as a Service API » FINCHANNEL" (in en-US). 2021-01-25. https://finchannel.com/banking-as-a-service-api-to-revolutionize-fintech/79986/business-2/banks/2021/01/. 
  12. ↑ benwilliams (2021-12-16). "How Does Banking as a Service Work?" (in en-GB). https://aboutmanchester.co.uk/how-does-banking-as-a-service-work/. 
  13. ↑ Williams, Ben (2022-01-04). "Why Do You Need A Safeguarding Account?" (in en-GB). https://thebusinesstime.co.uk/why-do-you-need-a-safeguarding-account/. 
  14. ↑ "EMBank launched a loan campaign to support small business owners" (in en-US). https://swedish.lt/members_news/embank-launched-a-loan-campaign-to-ease-the-burden-of-the-pandemic-on-small-business-owners/. 
  15. ↑ "SEPA" (in en-GB). https://em.bank/payments/sepa/. 
  16. ↑ "Banking payments reimagined: upcoming challenges for the European industry" (in En). https://infinite-intelligence.net/directory-articles/banking-payments-reimagined-upcoming-challenges-for-the-european-industry. 
  17. ↑ Navakas, Naglis. ""European Merchant Bank" pajamos augo 13 kartų" (in lt). https://www.vz.lt/rinkos/2022/05/04/european-merchant-bank-pajamos-augo-13-kartu. 



Retrieved from "https://handwiki.org/wiki/index.php?title=Company:European_Merchant_Bank&oldid=3475110"