Nium expands Lithuanian hub with new office in Vilnius

By Gloria Methri

Nium is expanding its operational hub in Vilnius through new hires and a new office facility that will better serve its growing customer base across Europe.

Over the last seven years, Nium has steadily grown its presence in Lithuania following the approval of its Electronic Money Institution (EMI) license by the Bank of Lithuania in 2017. The license has enabled the FinTech to better serve its European and global business customers with entities in the EU.

Now, the cross-border payments expert has moved to a new, larger office in Vilnius as it continues to hire more local talent and strengthen its operational risk and compliance teams.

“Lithuania is a highly attractive market for FinTechs on the world stage. A combination of forward-thinking regulators, world-class talent, and collaborative community members make Lithuania a leading FinTech hub in the EU, enabling global FinTechs like Nium to accelerate opportunity and innovation in the marketplace. This is an exciting step forward, driving greater investment in the local FinTech ecosystem and Nium’s operational efficiencies to better serve our customers across Europe and around the world,” said Spencer Hanlon, Chief Operating Officer at Nium.

Nium is among the earliest members of FinTech Hub Lithuania, a local association that seeks to unite and support the interests of FinTech companies in the region.

“Nium has been ever present in the Lithuania FinTech landscape for some time. Now, we have a team and physical space that reaffirms our commitment to Lithuania’s dynamic FinTech community,” added Karolis Urbonavicius, Lithuania Country Manager at Nium.

Among its cross-border payment capabilities, Nium enables faster payments in the region. It processes transactions through CENTROlink, the payment system operated by the Bank of Lithuania, which provides the gateway to the Single Euro Payments Area (SEPA).

The company enables banks, financial institutions, and platforms to collect, convert, and disburse money instantly across borders. Today, its global payout network supports low-cost payments in 100 currencies to more than 220 markets, 100 of which are in real-time. Its customers serve many industries, including travel, e-commerce, and payroll.

In addition to Lithuania, the company has several local offices across Europe in London, Malta, and Amsterdam, and is co-headquartered in Singapore and San Francisco.