Joana Baublytė-Kulvietė: “Beyond Compliance: Are We Building Trust or Just Passing Checks?”

The trend we are observing is a shift from greenfield licensing towards market entry through M&A – acquiring an existing licensed entity rather than going through the licensing process from scratch. From a value creation perspective, this is a positive signal: M&A activity brings private equity involvement, signals investor confidence, and ultimately drives value creation. The typical trajectory is that the acquirer, once embedded, upgrades the business and unlocks potential. The recent examples of Ebury and Checkout.com acquiring Lithuanian-based fintechs are a clear reflection of this market maturity. Efficient change of control approvals are vital to the success of the M&A process. 

Joana Baublytė-Kulvietė, Partner at WALLESS, joined the panel “Beyond Compliance: Are We Building Trust or Just Passing Checks?” at the Lithuanian Fintech Association Annual Members’ Meeting, moderated by Greta Ranonytė | CEO of the Lithuanian Fintech Association. 

Alongside Elijus Čivilis | Invest Lithuania, Laura Poderienė | Nuvei and Marius Skuodis | Bank of Lithuania, Joana reflected on the questions the industry continues to revisit: where checkbox compliance still appears in practice, the importance of preserving a level playing field, and the expectations institutions have of the market – and vice versa. Joana noted that regulatory complexity is at its highest level ever, and the market genuinely needs support in navigating it. When the industry seeks a broader interpretation of the rules, it is not to avoid regulation, but often to enable innovation.