Indexo
“Can a Latvian pension-fund manager become a full-service digital challenger bank for the Baltic region by layering banking, investment, and embedded finance products on a modern cloud-native core?”
HQRiga, Latvia
IndustryFintech / SMB banking
The story
Indexo began as a Latvian investment management and pension fund operator (IPAS Indexo), managing 2nd and 3rd pillar pension assets for retail clients. The group subsequently obtained a banking license and launched AS INDEXO Banka, pivoting toward full-service digital banking powered by Mambu's cloud-native core banking platform. This embedded-finance move positions Indexo as a challenger bank in the Baltic region, combining asset management, pension products, and digital banking under a single group brand.
Last 12 months
—
Regulated entities
2
regulatory licences held by Indexo
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in Indexo’s embedded-finance stack
Banking / BaaS
Lending
in the full report
Accounting gap: none
1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.