The Lithuanian payments platform will enable banks and licensed financial institutions to access SEPA, TARGET and the global Swift network through a single integration. The new status opens the way for faster international expansion and strengthens Lithuania’s position as an exporter of financial infrastructure.
Lithuanian financial infrastructure company Inventi has joined the Swift Business Connect programme, „becoming the first provider of its kind in the Baltic region” – according to the press release.
„The new status enables Inventi to embed Swift connectivity directly into its Payments Platform and offer it to banks, electronic money institutions and payment institutions as a managed service. Financial institutions will be able to access Swift through the same integration with Inventi’s Payments Platform that they use for SEPA and TARGET payments, rather than building and maintaining a separate technology stack for every payment rail.” – the company said.
“For a long time, Lithuania’s fintech success story was primarily about attracting and licensing international financial companies. We are now moving into a different stage of maturity: building infrastructure in Lithuania that can be exported across Europe and worldwide. Swift Business Connect is not simply another partner badge for Inventi. We are proud that, following its assessment, Swift selected Inventi and placed its trust in us as a partner capable of delivering this connectivity to financial institutions. We can now turn the complexity of global payment connectivity into a managed service delivered through a single payments platform.” said Asta Meskereviciute, Co-founder of Inventi.
„Historically, establishing a Swift connection has required dedicated infrastructure, certificates, security processes, specialist expertise and the continuous management of financial messaging standards. Under the Business Connect model, much of that technical and operational burden is handled by the technology provider. The financial institution retains responsibility for its licence, BIC, compliance decisions and correspondent relationships, while Inventi manages the connectivity layer, message processing, tracking, technical exceptions and standards updates.” – the company explained.
“Sending a single payment instruction is the easiest part. The real complexity lies in returns, cancellations, payment tracking, exceptions, data formats and standards that continue to change. We manage that entire layer within our Payments Platform, allowing the client’s team to focus on its product and customers instead of operating a Swift technology estate.” said Zilvinas Kybartas, Co-founder and CEO of Inventi.
Inventi’s platform already provides direct SEPA access through the Bank of Lithuania’s CENTROlink and the Bank of Latvia’s EKS, alongside connectivity to TARGET Services. Swift Business Connect adds global and multi-currency payment capabilities to the same infrastructure. For existing platform customers, Swift can therefore become another configurable payment route rather than a separate integration programme.
__________
Swift is a global secure financial messaging network connecting more than 11,500 financial institutions across over 200 countries. It does not move money itself; it carries the standardised instructions used by financial institutions to execute and manage transactions. Business Connect allows technology providers to embed this connectivity into their own platforms, giving end customers a simpler onboarding journey and a lower maintenance footprint.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
