News from the Wire

Nium grows presence in Lithuania

Friday, August 30, 2024 — 12:38:27 (EDT)

VILNIUS, Lithuania, Aug. 29, 2024 /PRNewswire/ -- Nium, the global leader in real-time cross-border payments, 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. This includes:

Nium's Chief Business Officer, Mike Birmingham, and Nium's Chief Operating Officer, Spencer Hanlon, at the new office in Vilnius, Lithuania (PRNewsfoto/Nium)

Hiring 18 new full-time employees in Lithuania, representing 100% headcount growth over the last 8 months

Moving to a new state-of the art office in Vilnius to support employees and collaboration among the local fintech community

Appointing a new Chairman of the Board to oversee further investment in Nium's local operations and offering to customers in the EU

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 leader has moved to a new, larger, state-of-the-art office in Vilnius as it continues to hire more local talent and strengthen its operational risk and compliance teams. Nium celebrated the occasion with an informal office launch party for employees on 7th August 2024, with Spencer Hanlon, the firm's newly appointed Chief Operations Officer and Chariman of the Board of Nium's Lithuania entity, leading the proceedings. Nium's Co-Founder and Chief Business Officer, Mike Birmingham, was also in attendance.

"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," adds Karolis Urbonavicius, Lithuania Country Manager at Nium.

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

Including licenses issued by the Bank of Lithuania (BOL), UK Financial Conduct Authority (FCA), and Institute of Financial Services Malta (IFSM), Nium holds over 40 regulatory authorizations around the world to serve its customers on a global scale. In addition to Lithuania, the company has a number of local offices across Europe in London, Malta, and Amsterdam, and is co-headquartered in Singapore and San Francisco.

Nium 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 in real-time. Its customers serve many industries, including travel, e-commerce, and payroll, among others.

About Nium

Nium, the global leader in real-time, cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 220+ markets, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 40 markets. Nium's growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore.

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Source: Company press release.