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Civitta successfully helped UAB "MisterTango" to receive full electronic money licence from Bank of Lithuania2017-08-04
Back in 2015 team of Civitta analysts prepared application documents to receive a limited electronic money licence for UAB "MisterTango". After receiving the licence, company launched an electronic wallet service in Lithuania, as the limited licence allows operation only in the country it was received.
Over the last half of the year Civitta team has extensively worked with the client in order to prepare all necessary documents to receive a full electronic money licence. These documents included a business plan with the business model description, market analysis and research, organisational structure analysis as well as financial model capable to forecast compliance with capital requirements established by the Bank of Lithuania. Furthermore, a detailed operational program was prepared as well as descriptions of compliance of main company's processes and the anti-money laundering policies.
Efforts put in the process paid off, as in July 2017 the board of Bank of Lithuania granted a full electronic money licence to our client (the link to the licence can be found here). As the full licence allows to provide services in whole EU, UAB "MisterTango" can expand its operations to new markets.
For more information please contact project manager Gintautas Nedzveckas (+370 6 9595120 or email@example.com).