The Vilnius division will serve as the company’s new product development center, focusing on regulatory technology (Regtech) solutions. Today, the main task of the headquarters is to develop a solution that will assist banks in complying with the requirements of the Basel IV agreement on customer due diligence, which will enter into force in 2027. To achieve its goals, the company will employ over 20 employees: developers, data scientists, quality assurance engineers, security engineers, DevOps (Development & Operations) and marketing specialists.

“The system will help financial service providers manage the entire know your customer (KYC) lifecycle. For the financial sector, this means enhanced customer data visibility, more effective customer risk assessment, and operational data management in the face of changing regulatory environment,” explains Hoogduijn.

According to Elijus Čivilis, General Manager of Invest Lithuania, the company’s growth in Vilnius demonstrates that Lithuania’s favorable investment climate and abundant talent pool are more than sounding words – they are a fulfilling reality.

“Hyarchis has already managed to see firsthand the dynamics of the Lithuanian technology ecosystem and ambitious local professionals, and has decided to expand here. I am confident that Lithuania will assist the company in continuing to adopt innovative Regtech solutions and achieving even greater goals,” says Elijus Čivilis.