MFSA’s strategy aims to turn Malta into fintech hub

(source: Unsplash/Brina Blum)

Last Updated on Tuesday, 13 August, 2019 at 11:03 am by Christian Keszthelyi

Malta’s fintech strategy aims to establish the country as an international fintech hub supporting and enabling financial services providers in their journey towards the realisation of their contribution to the next technological revolution, RSM Malta says in a press statement.

Malta Financial Services Authority (MFSA) is working on laying the necessary fundamentals and providing established firms and start-ups with a complete platform to explore their business concepts and solutions, accounting and advisory form RSM Malta says. The advisory business believes that such a platform would boost innovation and growth while providing regulatory objectives to protect investors and promote market integrity.

The MFSA identified six pillars for creating a holistic approach leading to the exploration of new technologies and innovations within the financial services sector, as follows: regulations, ecosystem, architecture, international links, knowledge and security. With the combination of these facets, fintech businesses in Malta will be able to address consumer needs by focusing on innovative product design, ease of use, accessibility and faster services, the RSM Malta press statement says.

The MFSA’s “FinTech Strategy” document is available for public view at the official webpage of the authority.

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