Proactive crisis management

Lithuania’s strict FinTech strategy has ensured that the right steps have been taken by the relevant institutions. This in turn has led to a large number of startups receiving licences to open their offices in the country. The financial sector is of key importance to the country’s national security, ensuring that Lithuania has one of the strictest regulations governing any activities that may compromise that security. Because of this, a company’s reputation is of paramount importance, and essential for a smooth launch and further operation.

In 2019 one of the top Fintech startups in Lithuania was facing such a reputational crisis and came to META seeking help. 

In an attempt to switch the discourse, META recommended that the wisest course of action was to take a proactive step forward. The company itself proactively requested the Commission for a re-inspection, in order to dispel any doubts regarding its activities in Lithuania.

Even though the company had successfully gone through multiple security screenings, an influential politician raised concerns regarding the process involved; most specifically, its shareholder’s ties with Lithuania’s eastern neighbours. The topic was widely discussed, both in Parliament and in the media. There was an initiative taken to approve the Parliament’s resolution, requesting the Government’s Commission to re-inspect the startup’s compliance with national security regulations.

In an attempt to switch the discourse, META recommended that the wisest course of action was to take a proactive step forward. The company itself proactively requested the Commission for a re-inspection, in order to dispel any doubts regarding its activities in Lithuania. A pursuant lack of confrontation stopped the debate in its tracks, and removed all interest in the topic, even as the Parliament approved the resolution. The Commission’s conclusion was at once positive, and the subject was closed.