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Core banking for Lithuanian e-money institutions

Keep the e-money ledger, IBANs and back office of your Lithuanian EMI on one platform, connected to SEPA through the Bank of Lithuania's CENTROlink system and documented the way DORA expects.

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Case Studies

See what teams build with Crassula.

Core Banking · EMI

What a Lithuanian EMI can run on the platform

EUR e-money accounts with your own IBANs

Private and business accounts with LT IBANs issued under your own BIC, using our CENTROlink connector, so incoming SEPA payments credit the right customer without a partner bank in between.

Multi-currency balances

Add USD, GBP and other currencies through a connected account provider when your customers need more than euro. Every balance sits on the same ledger, with available and reserved amounts.

SEPA, SEPA Instant and SWIFT

SEPA credit transfers through CENTROlink, SEPA Instant and SWIFT through connected providers. Every payment posts to the ledger as it settles, including returns and rejections.

Omnibus and virtual accounts for agents and B2B clients

Hold funds of a marketplace or a payment agent in an omnibus account and give each of their end users a virtual IBAN, with balances tracked one by one.

Back office for operations and compliance

A back-office dashboard for account opening, payment review, client limits, price lists and reports, with roles and an audit trail of every action.

What this licence does not cover

  • Taking deposits. E-money is not a deposit, it carries no deposit guarantee, and customer funds are safeguarded rather than insured.
  • Paying interest on e-money balances.
  • Lending from safeguarded funds. Credit linked to payments needs separate funding and its own conditions. Lending at scale means a step up to a specialised bank licence.
Your market

What the regulator asks about your IT

Each requirement, what the platform gives you for it and who owns it after launch.

1IT systems, security policy and ICT risk framework for the Bank of Lithuania file

Architecture, hosting, data flows, access roles, 2FA and audit trail, written up to slot into your DORA ICT risk management framework.

Crassula drafts, you adopt
2DORA register of information on ICT third-party providers

A list of the platform's components, subcontractors and hosting locations, with the contract data you need to fill in your register.

You, with our input
3Contract terms with ICT providers under DORA Article 30

Service description, service levels, audit and access rights, incident notice and exit support written into our agreement.

Shared
4Safeguarding of e-money holders' funds

Ledger balances per customer and exports to reconcile against your segregated account at a credit institution or the Bank of Lithuania.

Your finance team, on platform data
5Verification of Payee on euro transfers (in force), and SEPA Instant sending and receipt

Instant payment flows in the ledger and apps, plus the account name and IBAN data the payee check runs on.

You, with your rails provider
6Major ICT incident classification and reporting

Our incident notices, timelines and root-cause reports as your ICT provider, so you can classify and report on time.

You report, we supply facts
7Customer due diligence and ongoing monitoring under Lithuanian AML law

Onboarding questionnaires by client type, identity checks through connected verification providers, client limits and transaction exports for your monitoring tool.

Your MLRO
8Supervisory reporting to the Bank of Lithuania

Reporting endpoints and data exports covering balances, payment volumes and customer numbers.

You file, on platform data
Lithuania

Payment rails and providers

Rails your customers can use

SEPA Credit TransferSEPA InstantSWIFTInternal transfers

CENTROlink (Bank of Lithuania)

The Bank of Lithuania's payment system, connecting EEA-licensed payment service providers, including EMIs, to SEPA with settlement in TARGET. Crassula runs a CENTROlink connector for EUR accounts, IBAN generation and SEPA credit transfers.

Prefer another provider?

Crassula connects 60+ payment, banking and compliance integrations. We will check which ones fit your licence.

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24/7real-time processing, no batch window
60+payment and provider integrations connected
150+companies run on Crassula
15+languages the platform speaks
Lithuania

Dates to plan around

Rules that change what you have to build, in the order they apply.

  1. 17 Jan 2025

    DORA applies. Lithuanian EMIs keep an ICT risk framework and a register of information on every ICT third-party provider, including their core banking vendor.

  2. Oct 2025

    Non-bank payment service providers can apply for direct access to TARGET (T2 and TIPS), which matters if you settle your own CENTROlink positions.

  3. 9 Oct 2025

    Verification of Payee is in force. Payment and e-money institutions in the euro area, Lithuania included, must check the payee's name against the IBAN on every euro credit transfer, not only instant ones.

  4. 9 Apr 2027

    Payment and e-money institutions must be able to send and receive SEPA Instant payments.

  5. 10 Jul 2027

    The EU Anti-Money Laundering Regulation applies directly, replacing parts of the Lithuanian AML law your onboarding rules are built on.

EMI

Applying to the Bank of Lithuania for an EMI licence? Name us in your file.

The Bank of Lithuania reviews the systems behind an EMI as closely as its business plan, and since 2025 it reads them through DORA. We show a working platform and write the technical sections with you. Your lawyers handle the rest of the file.

Talk to us about your application

Crassula provides technology and documentation support. We do not provide legal or regulatory advice and cannot guarantee the outcome of an application.

  1. 01

    A platform you can demonstrate

    A configured environment to show the regulator, not slides.

  2. 02

    The technical part of your application, prepared

    IT systems, ICT risk under DORA, outsourcing, business continuity and security sections of your Bank of Lithuania file.

  3. 03

    Providers lined up

    CENTROlink for SEPA, plus banking, safeguarding and KYC providers from our network, matched to your licence.

A financial product team working together in a studio.
Core Banking

How a launch usually runs

Picture a Vilnius team that wants to serve small online merchants across the euro area. During the Bank of Lithuania's pre-application meetings they already show a branded environment with test accounts, and we write the IT, ICT risk and outsourcing sections of the file with them, including the entries for their DORA register.

Once the licence and BIC are in place, the team joins CENTROlink and the platform starts issuing LT IBANs under their own name. Finance rehearses safeguarding reconciliation on ledger exports, Verification of Payee runs on euro transfers from day one, since it already applies, and SEPA Instant is switched on well before the April 2027 deadline.

Need the licensing background first? Read the Lithuania EMI licence guide and the PSD3 and PSR guide.

Guides

Read the licence guides

Explore all guidesLicensing, payments, cards and core banking, explained by our team.
Lithuania · EMI

FAQ

The questions teams ask us before a first call.

Not covered here?Bring your question to a demo with our team.
Does Crassula connect to CENTROlink?
Yes. Our CENTROlink connector covers EUR accounts, IBAN generation and SEPA credit transfers for licensed EEA institutions, and we have connected projects to CENTROlink for more than five years. SEPA Instant currently runs through another connected provider, which we set up with you.
Can our EMI issue Lithuanian IBANs in its own name?
Yes, once you have a BIC and take part in CENTROlink, customer accounts carry LT IBANs tied to your institution. The ledger keeps one balance per IBAN, so incoming payments need no manual matching.
When must a Lithuanian EMI support SEPA Instant?
Under the Instant Payments Regulation, payment and e-money institutions must be able to send and receive instant euro credit transfers by 9 April 2027. Verification of Payee is already in force: since 9 October 2025 it applies to every euro credit transfer, instant or not. Plan the rails provider and the app changes well before the 2027 date.
What does DORA mean for our choice of core banking vendor?
Your core banking provider is an ICT third party. It goes into your register of information, the contract needs the clauses DORA lists, and you need an exit plan. We give you the data and contract terms for all three.
How do we safeguard e-money holders' funds?
Lithuanian law lets you keep customer funds in a segregated account at a credit institution or the Bank of Lithuania, or invest them in secure low-risk assets. The platform shows what you owe each customer, and your finance team reconciles that figure against the safeguarding account.
We hold a Lithuanian EMI licence already. Can we move our ledger to Crassula?
Yes. We migrate customers, balances and IBAN data from your current system and run both in parallel until the figures match. Tell the Bank of Lithuania about the change of ICT provider as your outsourcing rules require.
Core Banking

Explore your launch market

Lithuania · EMI

What a Lithuanian EMI can run on the platform

Tell us your licence and country. We will map the rails, providers and documents you need.

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Know what you payOne setup fee and a monthly plan with accounts and transactions included.See pricing → Start with the APIDocumented endpoints for accounts, payments, cards and customers.Explore the API →
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