{"id":9108,"date":"2025-11-06T15:48:45","date_gmt":"2025-11-06T13:48:45","guid":{"rendered":"https:\/\/finance.rbs.lv\/?page_id=9108"},"modified":"2025-12-11T16:30:02","modified_gmt":"2025-12-11T14:30:02","slug":"fintech-observatory-methodology","status":"publish","type":"page","link":"https:\/\/finance.rbs.lv\/en\/fintech-observatory-methodology\/","title":{"rendered":"Fintech Observatory Methodology"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-top:10%;--awb-padding-bottom:5%;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><h4>Methodology of FinTech Observatory<\/h4>\n<\/div><div class=\"fusion-text fusion-text-2\"><p><strong>Definitions and sector classification\u00a0<\/strong><\/p>\n<p><span data-contrast=\"auto\">FinTech\u00a0broadly\u00a0refers to \"technologically enabled financial innovation that could result in new business models, applications, processes, or products with an associated material effect on financial markets and institutions and the provision of financial services\"\u00a0<\/span><a href=\"https:\/\/www.fsb.org\/work-of-the-fsb\/financial-innovation-and-structural-change\/financial-innovation\/\"><span data-contrast=\"none\">(Financial Stability Board, 2017)<\/span><\/a><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p>\u200b<\/p>\n<p><i><span data-contrast=\"auto\">What counts as \"FinTech\" (scope)?\u00a0<\/span><\/i><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">For scope and taxonomy, we adopted the FinTech typology developed by the\u00a0<\/span><span data-contrast=\"none\"><a href=\"https:\/\/www.jbs.cam.ac.uk\/wp-content\/uploads\/2021\/03\/2020-ccaf-global-covid-fintech-market-rapid-assessment-study-v2.pdf\">Cambridge Centre for Alternative Finance (CCAF) in collaboration with the World Bank and the World Economic Forum (2020)<\/a>,<\/span><span data-contrast=\"auto\">\u00a0adapted to make the Observatory more usable and easily understandable to the\u00a0general public.\u00a0<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The Observatory\u00a0differentiates between\u00a012\u00a0FinTech\u00a0segments:<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<ul>\n<li>Brokers<\/li>\n<li>Business Tech<\/li>\n<li>Crowdfunding<\/li>\n<li>Crypto<\/li>\n<li>Digital Banking<\/li>\n<li>Insurtech<\/li>\n<li>Investment Platforms<\/li>\n<li>Lending<\/li>\n<li>Payments<\/li>\n<li>RegTech<\/li>\n<li>WealthTech<\/li>\n<li>Other<\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">For multi-segment firms, classification\u00a0is based on\u00a0the dominant activity reflected in products, services, and\u00a0licenses.<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p>\u200b<\/p>\n<p><b><span data-contrast=\"auto\">Data sources<\/span><\/b><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The data was curated through critical review and cross-verification of multiple sources. These include\u00a0Dealroom's\u00a0<\/span><i><span data-contrast=\"auto\">Latvian FinTech Landscape<\/span><\/i><span data-contrast=\"auto\">, the EU Digital Finance Platform, Latvia's Startup Association\u00a0<\/span><i><span data-contrast=\"auto\">Startin.lv<\/span><\/i><span data-contrast=\"auto\">\u00a0Startup Database, P2PMarketData, Latvian trade association member lists, regulator databases from the Consumer Rights Protection Centre (PTAC) and\u00a0the Bank of Latvia, among others.<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">These sources primarily\u00a0served\u00a0as guides for verification and reference. However, the resulting list of companies is not limited to them. Additional\u00a0FinTechs\u00a0were\u00a0identified\u00a0through independent research, media monitoring, and public information.<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Only active firms that\u00a0pay taxes and are employers in Latvia were included (verified legal status & digital footprint). Companies licensed in other EU\u00a0jurisdictions\u00a0but without a registered presence in Latvia (e.g., Revolut, N26) are not included.\u00a0This means that the list cannot be used to assess competitors in financial markets in Latvia.\u00a0<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Detailed business and financial metrics are provided in collaboration with\u00a0<\/span><a href=\"https:\/\/www.crediweb.lv\/\"><span data-contrast=\"none\">CrediWeb,<\/span><\/a><span data-contrast=\"auto\">\u00a0a company that provides access to company register data.\u00a0<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Where a company has not yet filed the requested information, data for the most recent year may not be available.\u00a0<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The financial data of subsidiaries included in the Observatory may only reflect a\u00a0portion\u00a0of the group-level activity, which should be considered when interpreting the data.<\/span><span data-ccp-props=\"{\">\u00a0<\/span><\/p>\n<p>\u200b<\/p>\n<p><b><span data-contrast=\"auto\">Developing\u00a0the\u00a0Observatory\u00a0further<\/span><\/b><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The version of the Observatory released in November 2025 is considered the pilot version.<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Future opportunities for expanding the Observatory may include adding information to company profiles (e.g., countries served and attracted funding), broadening the scope to cover companies active in Latvia but not registered there, and incorporating FinTechs registered in Lithuania and Estonia, among others.<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"\">The list of FinTechs will be reviewed and updated on a regular basis, but not less frequently than every six months, to account for new companies, mergers, licensing changes, etc.\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">We invite\u00a0FinTechs, members of the FinTech ecosystem, academics, and others\u00a0to suggest corrections, improvements, or propose new company entries. Submissions are reviewed against the inclusion criteria, and edits are applied when evidence supports the\u00a0need for edits.<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":20,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"100-width.php","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-9108","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/finance.rbs.lv\/en\/wp-json\/wp\/v2\/pages\/9108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finance.rbs.lv\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/finance.rbs.lv\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/finance.rbs.lv\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/finance.rbs.lv\/en\/wp-json\/wp\/v2\/comments?post=9108"}],"version-history":[{"count":21,"href":"https:\/\/finance.rbs.lv\/en\/wp-json\/wp\/v2\/pages\/9108\/revisions"}],"predecessor-version":[{"id":10139,"href":"https:\/\/finance.rbs.lv\/en\/wp-json\/wp\/v2\/pages\/9108\/revisions\/10139"}],"wp:attachment":[{"href":"https:\/\/finance.rbs.lv\/en\/wp-json\/wp\/v2\/media?parent=9108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}