European Merchant Bank Explained
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]
Notes and References
- Web site: European Merchant Bank - Products, Competitors, Financials, Employees, Headquarters Locations . 2023-09-01 . www.cbinsights.com.
- Web site: Content . Sponsored . 2022-01-14 . Why do we need banking as a service? . 2023-09-01 . London Business News Londonlovesbusiness.com . en-GB.
- Web site: European Merchant Bank ended the third quarter of 2021 with a 48% increase in the total loan portfolio . 2023-09-01 . en.15min.lt . en.
- Web site: 2018-12-17 . European Merchant UAB granted a specialised bank licence . 2023-09-01 . lb.lt . en.
- Web site: European Merchant Bank prepares for launch in Lithuania . 2023-09-01 . Delfi EN . lt.
- Web site: NetSol Technologies, Inc. (NTWK) Stock Price, News, Quote & History - Yahoo Finance . 2023-09-01 . finance.yahoo.com . en-US.
- Web site: 2022-05-11 . EMBank (European Merchant Bank) Reports Record Growth in 2021: 13x Revenue Growth & €27.7M Growth in Loan Portfolio . 2023-09-01 . EIN News . en-US.
- Web site: Shishmanov . Lazar . 2022-05-04 . EMBank 2021 results: 13x revenue growth and EUR 27.7 million growth in loan portfolio! . 2023-09-01 . European Merchant Bank UAB . en-GB.
- Web site: 2022-07-04 . Action brought on 12 May 2022 — Mostovdrev v Council . September 1, 2023 . eur-lex.europa.eu . en.
- Web site: News Archives . 2023-09-01 . FLCC . lt-LT.
- Web site: 2021-01-25 . European Merchant Bank Offering Banking as a Service API » FINCHANNEL . 2023-09-01 . en-US.
- Web site: benwilliams . 2021-12-16 . How Does Banking as a Service Work? . 2023-09-01 . About Manchester . en-GB.
- Web site: Williams . Ben . 2022-01-04 . Why Do You Need A Safeguarding Account? . 2023-09-01 . en-GB.
- Web site: EMBank launched a loan campaign to support small business owners . 2023-09-01 . SCCL . en-US.
- Web site: SEPA . 2023-09-01 . European Merchant Bank UAB . en-GB.
- Web site: Banking payments reimagined: upcoming challenges for the European industry . 2023-09-01 . Infinite Intelligence . En.
- Web site: Navakas . Naglis . "European Merchant Bank" pajamos augo 13 kartų . 2023-09-01 . vz.lt . lt.