Open Banking in Lithuania [updated]
Facts and figures

According to EBF, Lithuania has 18 banks and the largest are SEB and Swedbank. Lithuania is the second largest fintech hub in Europe, behind the UK, with its licensed companies. The EBA sample showed that Lithuanian banks were amongst the most profitable in Europe.

Banks continue to decrease operational costs as movement to digital banking is growing — from the population of 2.8 million people in Lithuania, 35% is now using Smart-ID, an online banking verification system.

Open banking

Most of the largest banks have active open banking developer portals that provide regulated access to account information. Active portals:

Integration with APIs

To use access and use the open banking APIs in Lithuania, you will need to acquire an account information service provider license, issued by the relevant authority. In addition to that, you will require a relevant certificate (QTSPs or eIDAS), compliant with PSD2 requirements.

Alternatively, you can use Nordigen’s free Account Information solution. Key benefits:

one API, already integrated with all the major Lithuanian banks,

access bank account history, up to 2 years,

90-day continuous access to bank accounts,

access to personal and business account information,

free of charge, no hidden fees.

Learn more about Nordigen’s Account Information here or get access to the API now.
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['Analytics', 'Fintech', 'Open Banking', 'Banking', 'Data']