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Luminor partners with FA Solutions to consolidate cross-border pension management operations in Estonia, Latvia, and Lithuania

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Luminor, the third-largest provider of financial services in the Baltics, has partnered with cloud portfolio management platform provider FA Solutions for its Asset & Pension Fund business segment, enabling Luminor Pensions to streamline cross-border operations and consolidate its multi-country systems into one platform.

Luminor is a contemporary new generation bank and financial services provider, combining global knowledge with local expertise. It is the largest local independent bank in the Baltics with a central office in Estonia and branches in Latvia and Lithuania. In line with local regulation of pension asset management, Luminor Pensions operates through separate local legal entities in countries of operations.

“As Luminor was created through the merger of several entities, we have been working on improving our IT architectures to align with our cross-border business model,” says Rasmus Pikkani, Head of Asset Management and Pensions at Luminor Bank. “FA Solutions’ cloud-based platform provides a single technical solution commonly managed across several locations, allowing us to focus on providing the best service for our customers,” explains Pikkani.

The FA Solutions team has worked closely with Luminor Bank to deploy the system in each country since the implementation project began in 2019. 

“By working closely with FA’s team, we were able to create customized operations and functionalities to fit our needs due to the flexibility of their platform and their willingness to listen and understand our pain points,” continues Pikkani.

FA Solutions provides a cloud-based portfolio management platform that automates and centralizes operational processes into one easy-to-use system via multiple APIs. The FA Platform automatically summarises the necessary data in one document based on selected parameters, shedding light on hidden insights.

“Luminor is one of the leading forward-thinking players in the industry and we are proud to have partnered with them in solving the operational challenges of their cross-border business model,” says Hannes Helenius, Chairman of the Board at FA Solutions. “Working with Luminor in implementing the FA Platform has also helped us improve our knowhow all over the Baltics. It’s definitely been a two-way learning curve and we’re really happy with how smooth the process was in every country considering the size and scope of the business,” continues Helenius.
FA Solutions has recently opened a new office in Latvia in order to offer its customers the best fintech consultants and engineering for FA’s global deployments. Elsewhere, the company has offices in Finland, Sweden, and the United Kingdom, and serves over 70 major banks, independent asset managers and institutional investors in 15 different countries.

For additional information:

Media kit with pictures

Hannes Helenius
+358 40 1467760

FA Solutions is the leading Nordic provider of software for wealth & fund managers, family offices, and banks, helping them manage their clients’ wealth globally. We offer a cloud-based portfolio management solution that automates and centralizes a wide range of operational processes into one easy-to-use FA Platform. We believe superior technology enables quality wealth management services for everyone. For more information, visit www.fasolutions.com.


Luminor is the third-largest provider of financial services in the Baltics, with some 900,000 clients, 2,500 employees, and a market share of 16% in deposits and 18% in lending as of 31 March 2020. Total shareholders’ equity amounts to EUR 1.6 billion, and Luminor is capitalised with a CET1 ratio of 20.5%. Luminor aims to be the preferred partner in financial matters for its customers and to support the further development of the Baltic region through financing and other banking services, by making banking simpler and more accessible. For more information, visit www.luminor.ee/en.