LATVIA – THE NEW HOME FOR GLOBAL FINTECH

5 November

Riga, Latvia

Latvia Fintech Forum

The annual Latvia Fintech Forum is coming to Riga for the third time to bring together the foremost figures in the financial technology industry to lead dynamic discussions on the most relevant industry developments, challenges, and solutions faced by businesses at the moment.

This year, organised by Latvijas Banka, Riga Investment and Tourism Agency and Investment and Development Agency of Latvia, the event will take place in the historic Small Guild located in the heart of Riga.

The Fintech Forum aims to foster the growth of the Latvian fintech sector, provide a platform for the effective exchange of ideas, and drive innovation, as well as mark Latvia as an excellent location to start and develop innovative fintech businesses.

This year, the forum will also feature the startup challenge “Fintech Factor 2024”, led by one of the largest European accelerators, Tenity, which offers a unique opportunity for innovative fintech companies, especially early-stage ventures, to pitch ideas, receive immediate feedback from experts and investors, and compete for valuable prizes.

Fintech Factor by Tenity

The Fintech Factor 2024 is a premier startup challenge designed to spotlight and boost early stage fintech startups from Europe. Hosted by Tenity, this competition provides a platform for innovators to showcase their solutions as well as to connect with leading financial institutions, VC funds, and policymakers from the Baltics.

The competition will culminate in a pitch event at the Latvia Fintech Forum on 5 November 2024, where 8 selected startups will present their ideas to a distinguished audience of up to 250 esteemed industry leaders.

Prizes include an early-stage growth kit with 10 hours of legal counseling by Sorainen and Walless each, 10 hours of growth mentoring by Tenity, a €2500 cash prize, tickets to Latitude59, sTARTUpDay, Nordic Fintech Summit, and Fintech Day 2024 and the potential for a €50,000–€150,000 investment from LatBAN and Tenity. Investments from LatBAN and Tenity are contingent on independent investment decisions.

Fintech Factor winners

On the forum stage, 8 finalists pitched their business ideas, and the jury awarded prizes as follows:

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Sorainen award to Zeipt
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WALLESS award to Sweephy
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Tenity Golden Ticket + Latvian Business Angels Network Investment to Securities LAB
Find out more

Program

9:00
Registration
10:00 | By Viktors Valainis, Minister of Economics
Opening speech
Mārtiņš Kazāks
10:10 | By Mārtiņš Kazāks, Governor of Latvijas Banka
Welcome address
10:20 | By Fredis Bikovs, Director of Riga Investment and Tourism Agency
Opening remarks
10:25 | By Laura Štrovalde, Deputy Director at the Latvian Investment and Development Agency
Opening remarks
10:30 | Panel discussion
Transforming tomorrow: Latvia's fintech strategy in action

This session will provide an overview of key developments, challenges, and highlights in the Latvian fintech sector over the past year, and will offer future outlooks and expectations for the growth of the Latvian fintech sector.

MODERATOR
Tīna Lūse, Fintech Latvia Association

PANELISTS
Mārtiņš Kazāks, Governor of Latvijas Banka
Fredis Bikovs, Riga Investment and Tourism Agency
Pēteris Daliņš, Vice President of Operations at GoCardless
Valdis Siksnis, CEO of INDEXO Bank

11:30 | Panel discussion
The next decade in fintech: emerging industry trends and innovations

Leading figures in fintech innovation will provide insights into current industry trends as well as those expected to shape the next decade.

MODERATOR
Clelia Tosi, Fintech District

PANELISTS
Rūta Merkevičiūtė, European Banking Authority
Juan Alonso-Villalobos, Startup Wise Guys
Michal Gromek, experienced virtual asset and fintech expert
Ēvalds Urtāns, AI researcher

12:30
Lunch
13:30 | By Tenity
Startup Challenge "Fintech Factor 2024"
14:30 I By Iman van Lelyveld, Head of the Data Science Hub
Keynote speech: AI – how will it fly?
14:45 | Panel discussion
Navigating challenges and driving growth: leveraging AI for business success

AI and digital innovation experts will share their expertise on leveraging AI to generate disruptive growth strategies, address the most pressing business challenges and solutions in AI implementation.

MODERATOR
Renat Lokomet, Venture Faculty ​

PANELISTS
Mārtiņš Bērziņš, Citadele banka
Andrei Doktoroff, serial entrepreneur, investor
Paolo Giudici, University of Pavia
Ilja Velickis, Flashpoint

15:45 | By Tenity
Startup Challenge "Fintech Factor 2024" award ceremony
15:55 | By Marine Krasovska, Head of the Financial Technology Supervision Department at Latvijas Banka
Concluding address
16:00
Networking
After an intensive day full of great ideas about the future of fintech, the networking session provides a great opportunity to connect with industry leaders, innovators, and peers to share insights and build valuable professional relationships.

Meet Industry Leaders

Mārtiņš Kazāks

Mārtiņš Kazāks

Governor of Latvijas Banka

Viktors Valainis

Minister of Economics

Fredis Bikovs

Director of Riga Investment and Tourism Agency

Laura Štrovalde

Latvian Investment and Development Agency

Iman van Lelyveld

Head of the Data Science Hub

Rūta Merkevičiūtė

Head of Digital Finance unit at the European Banking Authority
Renat Lokomet

Renat Lokomet

Strategic Partner at Venture Faculty
Juan Alonso-Villalobos

Juan Alonso-Villalobos

Board member of Startup Wise Guys

Pēteris Daliņš

Vice President of Operations at GoCardless

Clelia Tosi

Head of Fintech District

Michal Gromek

Experienced virtual asset and fintech expert

Valdis Siksnis

CEO of INDEXO Bank

Andrei Doktoroff

Serial entrepreneur, investor, speaker

Mārtiņš Bērziņš

Head of Digital Customer Experience, Deputy Business Development at Citadele banka

Paolo Giudici

Professor of Statistics at the University of Pavia

Ēvalds Urtāns

AI researcher

Ilja Velickis

Associate Partner at Flashpoint

Marine Krasovska

Head of Financial Technology Supervision Department at Latvijas Banka

Tīna Lūse

Managing Director of Fintech Latvia Association
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Fintech Forum took place at

Small Guild / Mazā Ģilde
Riga, Amatu iela 3/5

Organizers

Latvijas Banka

FintechLatvia.eu

fintech@bank.lv

riga-logo

Riga Investment and Tourism Agency

LiveRiga.com

invest@riga.lv

LIAA logo balts_mazais

Investment and Development Agency of Latvia

liaa.gov.lv

startup@liaa.gov.lv

Startup Challenge Organized by

Tenity-White-logo
Fintech-Latvia-Logo

Partners

Walless
Sorainen
Visa
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Privacy policy

Cookie policy

Mārtiņš Kazāks

Mārtiņš Kazāks

Governor of Latvijas Banka

Mārtiņš Kazāks has lectured at the Stockholm School of Economics in Riga (1996–2008), the University of London, Riga Stradiņš University and Riga Business School.

He has been a member of the following bodies: the Strategic Analysis Committee of the President of Latvia (2006–2011), Counselor Convention of BA School of Business and Finance, Counselor Convention of Liepāja University and Fiscal Discipline Council of the Republic of Latvia (2014–2018). He is a member of the Economists Association 2010 and National Association for Business Economics (USA).

Mārtiņš Kazāks has authored and co-authored numerous publications in the fields of financial markets and their integration, the economic development cycle and financial crises, fiscal policy and competitiveness of the economy.

In his capacity as Governor of Latvijas Banka, Mārtiņš Kazāks is a Member of the Governing Council of the European Central Bank and the General Council of the European Central Bank. Mārtiņš Kazāks is the Governor of the International Monetary Fund for the Republic of Latvia.

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Viktors Valainis

Minister of Economics

Viktors Valainis has been the Minister of Economics since 15 September 2023. Prior to this, he served as a Member of the Saeima during several convocations. Additionally, he has held positions as the executive director of the Latvian Association of Large Cities and as the Parliamentary Secretary at the Ministries of Economics and Transport.

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Fredis Bikovs

Director of Riga Investment and Tourism Agency​

Fredis Bikovs is the Director of the Riga Investment and Tourism Agency. He holds dual master’s degrees in Business Management and Finance from the BA School of Business and Finance and the Swiss Business School. Bikovs has extensive experience in international project and financial management, having worked with companies such as Transcom Worldwide Latvia, Runway BPO, and Nordea Bank AB in Latvia. He was the director of Evry Latvia from 2017 to 2021 and led ABSL Latvia from 2019 to 2021. Before his current role, he managed operations for Wolt in Latvia. 

As the agency’s director, Bikovs is dedicated to attracting investors, a key focus that promises growth and development. He also concentrates on enhancing sales capabilities and promoting Riga internationally. Leveraging his private sector experience, he aims to improve the investment environment and strengthen collaboration between investors and the public sector. 

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Laura Štrovalde

Deputy Director in charge of investment and energy at the Latvian Investment and Development Agency

Laura Štrovalde’s career has been dedicated to investment attraction, the implementation of innovation strategy, and the acceleration of the startup ecosystem in Latvia. With an absolute commitment to service excellence, she has a wealth of experience in strategic smart specialization approaches to foster reindustrialization, implement flagship projects, and develop new products.

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Iman van Lelyveld

Head of the Data Science Hub at De Nederlandsche Bank, Professor at the Vrije Universiteit Amsterdam

Iman van Lelyveld heads the Data Science Hub at De Nederlandsche Bank, is Professor of Banking and Financial Markets at the Finance Group of the VU Amsterdam and a visiting professor at the European University Institute in Florence.

He has been involved in many regulatory policy issues at the Basel Committee and in particular in the Research Task Force – chairing several groups. He has published widely on international banking and financial networks and has worked for Deutsche Bank, the Bank of England, and the Bank for International Settlements (BIS). At the BIS he helped to setup analysis of the exposure network of the largest banks in the world.

His current interest is to foster cooperation amongst central banks and supervisors through the deployment of open source tooling.

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Rūta Merkevičiūtė

Head of Digital Finance unit at the European Banking Authority

Rūta Merkevičiūtė is the Head of Digital Finance unit at the European Banking Authority (EBA), responsible for the EBA’s work on monitoring financial innovation, identifying areas where a regulatory and supervisory response might be needed. She also leads the EBA’s work on digital operational resilience and crypto-assets, focusing on the Markets in Crypto-assets regulation and Digital operational resilience for the financial sector.

Previously, she was the Director of Financial Services and Markets Supervision Department at the Bank of Lithuania.

Rūta Merkevičiūtė has a professional legal qualification as an attorney-at-law and, for the past 15 years, has been working in both the private sector and financial sector supervision.

Renat Lokomet

Renat Lokomet

Strategic Partner at Venture Faculty, Venture Partner at Raw Ventures Global, Council Member at Indexo, Summus Capital

Renat Lokomet is a seasoned fintech, blockchain, and startup investor and entrepreneur. He serves as a Strategic Partner at Venture Faculty and a Venture Partner at Raw Ventures Global. Renat Lokomet is also a Council Member at Indexo and Summus Capital. As a co-founder of the Latvian Startup Association, he has played a key role in shaping the startup ecosystem in Latvia. Renat is highly regarded for his strategic expertise and deep commitment to innovation in the fintech industry.

Juan Alonso-Villalobos

Juan Alonso-Villalobos

Board member of Startup Wise Guys, Senior Advisor at Blackfin, Independent Director at Grupo Concentra

Juan Alonso-Villalobos has over 15 years of corporate experience, more than 13 years of entrepreneurial expertise, and over 7 years of experience in private equity investment. 

Juan’s corporate roles include serving as a Senior Consultant at Accenture, managing Treasury & Risk at BBVA, and holding the positions of Co-CEO and CFO at ING Direct France. He also served as CMO at ING Nationale Nederlanden and is currently the CEO of his own consulting company, PMLG Advisory, specializing in M&A and strategy. 

In the investment arena, Juan has invested through SWG Fintech 1 OÜ and SWG Fintech II OÜ. He is a Senior Advisor to several private equity funds, including Blackfin Capital Partners and Cerea Partners, with acquisitions exceeding 50 million euros in Spain. He has directly invested in more than 10 startups and managed several fintech-focused acceleration programs with Startup Wise Guys.  

Juan is the founder and partner of over 5 startups, including Adsoc.com. He also holds positions as an independent board member for various corporations, including Startup Wise Guys. 

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Pēteris Daliņš

Vice President of Operations at GoCardless

Pēteris Daliņš is the Vice President of Operations at GoCardless, leading the GoCardless’ Riga office and global shared services group.

He previously held roles in Australia, Asia and Europe, in organisations including Emergn, Asahi Beverages and Schweppes. Most recently he was the Director of KPMG Lighthouse, a Center of Excellence for data-driven technology.

Pēteris core expertise lies in creating high performing teams, delivering exceptional software products and leading digital transformation.

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Clelia Tosi

Head of Fintech District

Clelia Tosi is a seasoned professional with over a decade of experience in fintech, financial services, and digital innovation.

Currently serving as the Head of Fintech District, Clelia Tosi oversees strategic partnerships, growth initiatives, and the development of Milan’s leading fintech ecosystem. Prior to this role, Clelia Tosi held various leadership positions at Fintech District.

Clelia Tosi previously worked at CeTIF, managing research, training and consultancy projects on digital transformation, fintech, and compliance for the banking and insurance sectors. Her career began at Accenture in management consulting.

Michal-Gromek

Michal Gromek

Experienced virtual asset and fintech expert

Michal Gromek is an experienced virtual asset and fintech expert. Currently, he serves as a leading virtual asset expert on the OSCE project on mitigating money laundering risks of virtual assets and cryptocurrencies and as a virtual asset expert within the UNODS (United Nations Office on Drugs and Crime) Global Programme on Cybercrime.

He co-chairs the Digital Asset Task Force of the Global Coalition to Fight Financial Crime. This expert group includes members from Europol, Refinitiv, and the World Economic Forum. Previously, he initiated and coordinated the Working Group on Digital Assets & Blockchain for the Swedish Fintech Association.

Additionally, he has served as the Chief Compliance Officer at Safello, the leading Digital Currency Brokerage Platform in the Nordics, and contributed his knowledge in fintech and decentralised finance to Forbes.

Michal Gromek’s expertise lies in decentralised finance and combating web3 financial crime. His mission is to share knowledge and address challenges within fintech.

Valdis-Siksnis

Valdis Siksnis

CEO of INDEXO Bank

Valdis has 30 years of experience in the financial services industry in the Baltic countries and Eastern Europe. From 2003 to 2013, Valdis served as the General Manager of the Nordea Latvian branch. During this period, Nordea transformed from a marginal player into one of the market leaders in Latvia.

In 2013 Valdis left Nordea and established Callidus Capital, a corporate finance and financial advisory company, which has participated in implementation of several significant projects in Latvia.

In 2017, Valdis co-founded IPAS INDEXO, which has become the third-largest pension manager in Latvia. Since 2022 Valdis has fully dedicated his time to INDEXO, initially as CEO of IPAS INDEXO and since May 2024 as CEO of INDEXO Bank.

INDEXO Bank received its licence in May 2024 and started operations in August 2024.

Andrei-Doktoroff

Andrei Doktoroff

Serial entrepreneur, investor, speaker

Andrei Doktoroff is a serial entrepreneur, investor, and speaker with a lifelong passion for innovation and business. He founded his first company at 21 and has never been employed, dedicating his career to entrepreneurship. As the Founder and CEO of The Intelligent VC, an investment firm with a focus on AI and tech, managing assets of $20M, Andrei is deeply involved in shaping the future of technology and innovation.

With over a decade of self-exploration in health, mental well-being, and spirituality, Andrei leads executive retreats and workshops that merge leadership development with personal transformation. He is a keynote speaker on AI and innovation, a consultant for serial entrepreneurs, and an expert in fundraising and investor relations, guiding startups toward sustainable growth and success.

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Mārtiņš Bērziņš

Head of Digital Customer Experience, Deputy Business Development at Citadele banka

Mārtiņš Bērziņš is an experienced business development leader with a focus on digital products and customer user experience. He is skilled in user experience, engagement, and behaviour across various digital channels, as well as agile development practices, digital product strategy, and innovative thinking.

Before joining Citadele bank, Mārtiņš created the first licensed payment institution in Latvia. Since joining Citadele in 2017, he has led all digital channel development, focusing on mobile banking and customer experience development. Since August 2020, Mārtiņš has been the Head of Digital Customer Experience and Deputy Business Development.

Mārtiņš has led the development and implementation of the generative AI consultant, Adele, in Citadele Bank’s customer service. Drawing from this experience, Mārtiņš advocates for broader yet responsible AI usage across various industries.

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Paolo Giudici

Professor of Statistics at the University of Pavia and Professor of Machine learning at the European University Institute

Paolo Giudici is a Professor of Statistics at the University of Pavia and a Professor of Machine Learning at the European University Institute. With over 200 scientific publications, his work focuses on developing statistical learning models to assess risks and opportunities in high-impact innovations such as artificial intelligence and financial technologies. His research excellence is reflected in his h-index scores of 49 (Google Scholar), 37 (Scopus), and 33 (Web of Science).

Paolo Giudici serves as the Chief Editor of Statistics (Taylor and Francis) and is on the editorial boards of Artificial Intelligence in Finance (Frontiers) and the International Journal of Data Science and Analytics (Springer). His leadership extends to coordinating 13 funded scientific projects.

In addition to his academic roles, Paolo Giudici is a Research Fellow at the Bank for International Settlements and a research expert for major institutions like the European Commission, the European Insurance and Occupational Pensions Authority, the Italian Ministry of Development, and the Bank of Italy.

An elected Fellow of the International Statistical Institute, Paolo Giudici is also an active member of several leading organizations, including the Institute of Mathematical Statistics, the Association for Computing Machinery, the European Network for Business and Industrial Statistics, and the Italian Statistical Society.

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Ēvalds Urtāns

AI researcher

Dr. Ēvalds Urtāns is an AI researcher, founder of Asya.ai, Eldigen.com, and Pitchpatterns.com, and the host of the AI Ranch podcast. Ēvalds commercializes various AI solutions, robots, and inventions, while also tending to his garden and raising his three children.

Ilja-Velickis

Ilja Velickis

Associate Partner at Flashpoint

Ilja Velickis is an Associate Partner with the Flashpoint Growth Debt fund. In his current role, he is responsible for venture debt deal origination, analysis, execution, and portfolio management, while also supporting fund-level processes. He has led the fund’s investments in Welcome Pickups, Dispelix, Mercaux, ByNext, iDeals, and Whizz.

Prior to joining Flashpoint, Ilja spent over three years with Deutsche Bank in London, where he worked closely with the bank’s technology vendors and investment banking teams, gaining valuable technical and investment experience. He began his career as a financial auditor with KPMG.

Ilja holds a Bachelor of Science degree in Banking and International Finance from Bayes Business School (formerly Cass Business School) in London, and is a CFA charterholder.

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Marine Krasovska​

Head of Financial Technology Supervision Department at Latvijas Banka​

Marine Krasovska holds a Master’s Degree in Finance from the University of Latvia, professional diploma in management from the Open University Business School (United Kingdom), as well as an IBM Cybersecurity Analyst Professional Certificate and a RegTech certificate from the Hong Kong University of Science and Technology.

She built her professional experience while working at AS SEB banka, AS DNB banka and Luminor Bank AS Latvian branch in several positions related to lending and product and business strategy development. She was the co-founder of a FinTech startup. From 2020, Marine Krasovska worked as Director of Financial Innovation Department.

Following the integration of the Financial and Capital Market Commission and Latvijas Banka on 1 January 2023, she became Head of Financial Technology Supervision Department.

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Tīna Lūse​

Managing Director of Fintech Latvia Association​

Managing Director of the Fintech Latvia Association, sworn attorney, board member of the European Digital Finance Association 

Since January 2021, Tīna Lūse has been the Managing Director of the Fintech Latvia Association. During this time, the association has experienced significant growth and has become an active partner in dialogue with regulators and policymakers.