February made me reflect on a broader question: how people move from being consumers, to savers, and ultimately to investors. The recent discussions in Estonia and Lithuania about partial pension withdrawals highlight a classic trade-off between freedom and fragility.

On paper, flexibility is empowering - it can help households escape expensive debt or build a buffer. But financial decisions are rarely made in calm, long-term conditions. When future savings suddenly become accessible, they often feel like immediate relief rather than long-term security. The issue is not that people are irresponsible, but that human nature makes us discount the future and overestimate how quickly we can rebuild what we withdraw. Without stronger financial capability, increased optionality can quietly shift retirement risk from the state to households.

At the same time, the solution is not to shame withdrawals. Personal finance follows a natural order: first stabilize, then protect, and only then grow through systematic investing. Many never reach that third stage - not because investing is complex, but because it requires habits, patience, and trust in compounding. If responsibility is to mean more than a slogan, reforms should include smart guardrails: default options that keep part of savings invested, simple diversified low-cost choices, transparent disclosure of long-term trade-offs, and practical education. Financial freedom without structure can become financial abandonment - but freedom with thoughtful defaults can truly empower people.

For TWINO, this discussion is directly relevant. Our mission is to make the step from saver to investor more understandable and manageable. Yet we are honest about the fact that many challenges remain unsolved - especially how to design experiences that build confidence rather than confusion.

Together with Riga Business School, we are organizing the FinQuest hackathon, where teams will tackle exactly this challenge: how to turn savers into confident long-term investors through better design, incentives, and education. I believe innovation in finance does not start with products, but with understanding human behavior. (More information about FinQuest can be found here: FinQuest Coopetition 2026 – Finance.)

Encouragingly, I do feel that awareness about investing and long-term compounding is gradually increasing. But ultimately, building wealth is not only a personal responsibility; it is also a societal one. We need to learn, to teach, and to help others understand how long-term capital formation strengthens not just individual portfolios, but entire economies.

We have launched a new client cashback campaign. If you know someone who could benefit from starting their investment journey, we invite you to explore and share our campaign: https://www.twino.eu/en/campaigns

The optional early repayment opportunity for Russian loan claims with a 20% discount remains available for a few more days. For those who prefer to exit earlier rather than wait under continued uncertainty, this option provides a defined path forward.

In Vietnam, the official company liquidation process has been initiated, and we are actively participating to ensure TWINO is positioned to benefit first should any recoveries materialize. However, as communicated before, expectations for additional recovery remain limited.

Fincard’s core product - the credit card - has been recognized as the best non-bank credit card in Poland for the second consecutive year. This is a significant achievement for the Polish team and a strong validation of the product’s quality and positioning.

On the regulatory side, there are no updates regarding the implementation of the Consumer Credit Directive (CCD II). A draft version of the legislation is still expected in March.