European Merchant Bank
| Company type | Private company |
|---|---|
| Industry | Financial services |
| Founded | December 14, 2018 in Vilnius |
| Headquarters | , |
Key people | Sarp Demiray (CEO) Ekmel Cilingir (Chairman of Supervisory Board) |
| Products | Commercial banking, fintech |
| Website | em |
The European Merchant Bank, operating under the brand name EMBank, is a Lithuania-based digital neo bank launched in 2018. Focusing on the fintech industry, it offers commercial banking solutions primarily aimed at Small and medium-sized enterprises (SMEs).
History
Founded in Lithuania in 2018, EMBank secured its banking license from the European Central Bank on 14 December that year. By the conclusion of 2021, the institution had expanded its business lending portfolio to €29.7 billion, demonstrating considerable growth. That same year, EMBank reached profitability, driven by a thirteenfold increase in revenues and a €27.7 million growth in its loan book.
In 2022, EMBank was engaged in a legal dispute concerning trademark rights with mBank and the European Union Intellectual Property Office. Despite these legal proceedings, the bank has continued to grow its presence within the SME fintech market.
Features
EMBank offers an array of financial services crafted for fintech companies and SMEs:
- Direct banking access tailored for fintech firms and small to medium enterprises.
- Banking as a Service (BaaS) featuring a comprehensive Embedded Finance API designed for fintech collaborators. Safeguarding Accounts are provided to ensure adherence to regulatory standards.
- Customized lending options aimed at fostering SME expansion.
- SEPA payment capabilities, including SEPA Instant Credit Transfers (SCT Inst) for euro transactions and SEPA Direct Debits that enable merchants to collect euro-denominated payments across SEPA member countries.
Membership and activities
Since its establishment, EMBank has been affiliated with the Lithuanian Banking Association, FinTech Hub LT, and Fintech LT. It has forged strategic alliances such as with Mastercard to broaden its service offerings.
The bank actively engages in prominent financial technology conferences including Money2020 (held in Amsterdam and Las Vegas) and Finovate (in London and New York), underscoring its dedication to innovation and leadership within the financial services sector.