EMBank's Ekmel Çilingir on Why Open Finance Must Deliver for SMEs

In a newly published article for The Paypers' Open Finance Report 2025, EMBank Chairman Ekmel Çilingir calls for a sharper focus on small and medium-sized enterprises (SMEs) as Europe prepares for the rollout of PSD3 and a new era of open finance.

The report brings together financial leaders, policymakers, and technologists to explore the future of financial data sharing across Europe. In his contribution, Çilingir makes the case that the true value of open finance lies not only in innovation or regulation but in making it easier for SMEs to trade, grow, and compete.

"Europe's SMEs are ready to scale," Çilingir writes, "but the financial infrastructure around them has slowed. Open finance gives us the tools to rebuild and reimagine how trade, payments, and lending can work better."
Drawing from EMBank's experience supporting SMEs and fintechs in Lithuania and across Europe, the article outlines several ways open finance can create real impact:

Unlocking access to capital with richer and more portable data, giving smaller businesses a fairer chance at financing even without long credit histories.

Reducing payment costs and delays through account-to-account rails, which PSD3 aims to support with improved security and interoperability.

Embedding compliance into transactions with real-time AML checks and identity verification-cutting the red tape that often slows SMEs down.

Building a truly single European market by making cross-border trade simpler, faster, and more transparent for businesses of all sizes.

The piece also addresses a growing concern: that SMEs are often excluded from the benefits of digital finance due to legacy systems and a lack of tailored solutions. Çilingir stresses that this must change if Europe's open finance agenda is to be credible.

"Let's point open finance at the parts of the economy where it can do the most good," he writes. "For Europe's exporters, innovators, and family-run businesses, this is not just about access to data. It's about access to opportunity."
The full article and report are available to read now via The Paypers: 🔗 Open Finance Report 2025 https://thepaypers.com/fintech/reports/open-finance-report-2025

Company Name: European Merchant Bank (EMBank)
Contact Person: Dilek Isik
Email: dilek.isik@em.bank
Country: Lithuania
Address: Pirkliu Klubas, Gedimino 35, 01119, Vilnius, Lithuania
Website: https://em.bank/

European Merchant Bank (EMBank) is a specialised financial institution licensed by the European Central Bank and headquartered in Vilnius, Lithuania. The bank supports SMEs and fintechs with regulated accounts, embedded financial infrastructure, payment processing, and credit solutions. EMBank operates in line with EU standards and participates in Lithuania's deposit guarantee scheme.
Further information can be found at https://em.bank

This release was published on openPR.