FINCI

History and Founding

FINCI was founded in 2019 in Vilnius, Lithuania, by experienced fintech professionals who saw a market gap in serving non-standard business models. Traditional banks often rejected or overcomplicated accounts for logistics, construction, and flight operations, where transaction patterns are irregular. The company built its payment infrastructure on the Temenos banking platform, chosen for scalability and reliability, and went live in just four months—a record deployment time.

Business Model and Revenue

FINCI generates revenue primarily through transaction fees on international transfers, currency conversion spreads, card issuing and processing fees, and BIN sponsorship charges. Its Agent Programme allows third-party partners to sub-license FINCI’s payment services, creating a recurring revenue stream. The company also earns from its open API ecosystem, enabling fintech partners to build custom payment products on its infrastructure.

Core Products and Services

The flagship offering is a multi-currency business account that supports EUR, GBP, USD, and PLN, consolidated in a single dashboard. International transfers include SEPA, SEPA Instant (up to €25,000 in 10 seconds), and SWIFT. A blockchain-powered instant global payout service issues real-time settlements to over 100 countries. Temporary business accounts allow rapid opening for company formation and capital deposit. As a Mastercard principal member, FINCI issues physical and digital cards, offers BIN sponsorship, and operates a Cards-as-a-Service programme. The Agent Programme enables partners to distribute FINCI’s services under their own brand.

Market Position and Awards

FINCI occupies a nimble niche between traditional banks and pure-play fintechs, focusing on complex client segments rather than mass-market retail. Its 2023 Lithuanian Fintech Innovator of the Year award highlights its blockchain integration. The company has achieved 100% year-on-year growth in payment volumes and 50% growth in card transactions, processing over €1.2 billion annually. Competitors include other EU EMIs like Revolut Business, Paysera, and Modulr, but FINCI’s dedicated account manager model differentiates it.

Regulatory and Compliance

FINCI is authorised as an Electronic Money Institution (EMI) by the Central Bank of Lithuania, with full passporting rights across the EEA. It employs advanced data encryption, digital certificates, and sophisticated fraud monitoring. The company is privately held and headquartered in Vilnius, with a headcount of approximately 100 employees. Its compliance framework is overseen by a Director of Compliance, though specific CCO details are not publicly disclosed.

Leadership

Mihails Kuznecovs serves as Chief Executive Officer, confirmed via FINCI’s about page and LinkedIn. Dmitry Babovsky is Chief Technology Officer, appointed as detailed in a company press release. No other C-level executives are publicly confirmed at this time.

Recent Developments and Strategy

FINCI continues to expand its blockchain-based instant payout network and is actively onboarding Agent Programme partners across Europe. The company’s open API strategy targets fintechs that need custom payment rails, while its human account manager model retains client loyalty. Future growth is likely to focus on deepening its card programme offerings and extending instant payment corridors beyond the current 100+ countries.