First Fintech Board Members Academy to be launched in Latvia

The Latvian fintech landscape has kicked off the year 2024 with notable vigor. Scheduled for January 25-26, the inaugural "Fintech Board Members Academy: Empowering Excellence" is set to unfold.

This meticulously crafted, two-day, in-person event is tailored for fintech industry leaders, offering a comprehensive program that explores critical topics shaping the future of the fintech industry in Latvia. The Academy will bring together over 10 local and international experts, including speakers from Latvijas Banka.

As Marine Krasovska, head of Financial Technology Supervision Department at Latvijas Banka, points out:

"Last year, several important steps were taken to make Latvia an attractive location for fintech companies. The industry and regulation are evolving dynamically, so we are constantly advising and educating existing and future market players. This training programme for fintech managers is a valuable initiative where both existing and potential fintech market participants will be able to learn about new developments in fintech regulation, IT risk and cyber risk management, building internal control systems for financial companies and other supervisory issues."

Marine Krasovska, head of Financial Technology Supervision Department at Latvijas Banka, will speak about the scope and challenges of the legal framework (MiCA, DORA, PSD3), information system risk and cyber risk management, as well as the support tools offered by Latvijas Banka for fintech companies.

Agnese Alaine, head of Licensing and Sanctions Department at Latvijas Banka, will discuss the regulator's expectations for board members of financial companies.

Kristaps Markovskis, head of Anti-money Laundering Department at Latvijas Banka, will hold a presentation "Top 10 steps in the formation of the internal control system".

The Academy is organised by the Fintech Latvia Association in cooperation with the Baltic Institute of Corporate Governance, which promotes the implementation of good corporate governance principles in the Baltic States, including the organisation of 15 years of educational programs for high-level managers, business owners, supervisory board members, and board members.

Tīna Lūse, Managing Director of Fintech Latvia Association:

"It is a rewarding start to the year to work actively and systematically to create attractive development conditions for fintech companies in Latvia and to bring new and competitive players to the market, thus contributing to economic growth. The aim of the Academy is to provide the managers and founders of fintech companies with a comprehensive overview of the Latvian regulator's expectations on the various issues related to the company's activities, as well as to provide access to the perspectives of the best experts on these issues, and to share the experience of other market players. We therefore appreciate the active participation of experts from the Bank of Latvia, the Ministry of Finance, Finance Latvia Association and the Baltic Institute of Corporate Governance in the preparation of the Academy's training programme and in the engagement of experts."

Just as importantly, the Academy is a platform to build professional relationships and contacts with more than 10 local and international experts and representatives of other companies.

As the Vice President and Head of the Baltic Institute of Corporate Governance in Latvia Andris Grafs says:

"The fintech sector is developing rapidly, and to ensure the effective governance of fintech companies, facilitate their development in line with regulations and industry trends, and provide practical steps to overcome challenges, we have enlisted speakers who are knowledgeable in their field. They can offer practical, experience-based advice and solutions. The combination of thoughtful, high-quality content and the opportunity to network with other companies and experts are prerequisites for this training to be valuable for fintech CEOs and founders."

The Academy will feature speakers from the Ministry of Finance of Latvia, Latvijas Banka, Fintech Latvia Association, Baltic Institute of Corporate Governance, Finance Latvia Association, drill, WALLESS, Pedersen & Partners, Sorainen, Gravity HUB, Tenity, DelfinGroup, Nasdaq Riga, KPMG, IIZI Broker, TeraSky and Mintos.

For more information about the Academy and to register: Open until 22 January.

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