Last Updated on Tuesday, 3 September, 2024 at 12:41 pm by Andre Camilleri
Malta’s own Neobank MONEYBASE is two years old
Two years ago, Calamatta Cuschieri launched Moneybase, Malta’s first “Neobank”, a payments and investments platform enabling individual customers and businesses to send and receive SEPA payments use a multi-currency Mastercard, as well as access to over 20,000 investments all under one ecosystem.
With the entire platform entirely designed and developed within Microsoft Azure, Moneybase has now just been featured on Microsoft’s latest Customer Stories.
“This is a very significant recognition for Moneybase and a solid endorsement of our platform for being supported by Microsoft’s technology,” says Alan Cuschieri, CEO and Founder of Moneybase.
“Moneybase is a financial institution and developing Moneybase in the robust cloud-based environment offered by Microsoft Azure, gave us the scalability, security and flexibility needed to offer seamless digital services.”
“Today, in fact, Moneybase is offering payment and investment services to over 40,000 clients, business accounts to over 500 clients allowing customers to manage funds with access to over 20,000 investments all within one environment which is backed by ISO Certified customer support,” added Alan Cuschieri.
In 2022, Moneybase was awarded ‘Best Financial Institution of the Year’ at the prestigious Malta Business Awards and Best App at the Tech.mt awards.
Moneybase also uses Dynamics 365 for its customer relationship management, Microsoft 365 for collaboration and productivity, SharePoint, Microsoft Teams and Outlook for communication, and Microsoft Intune for device management, Moneybase ensures that internal collaboration is smooth, and data and devices are always secure.
Moneybase’s decision to partner with Microsoft was rooted in Microsoft’s well-established, on-the-ground support in Malta.
“Microsoft has a long history in the community. I remember when I was a student, Microsoft had a joint program with the Maltese government to support students’ digital literacy. They have been on this island long enough to understand our community. So when we came to build Moneybase, we wanted a robust solution using the best that cloud technology has to offer. Microsoft’s local presence here in Malta brought us all the support we needed to navigate the complex cloud landscape. Choosing Microsoft was an easy decision because we can trust them,” added Alan Cuschieri.
Mr Cuschieri notes that one of the convenient aspects of the platform is that clients using Moneybase get to open a free account in a matter of minutes. They can start managing their money using a Maltese IBAN and invest with peace of mind knowing that they are dealing with an established Maltese regulated firm that is also covered by the Maltese Investor Compensation Scheme.
“Faced with bureaucratic issues usually encountered by larger, more traditional banks, Moneybase started registering substantial interest from the business community and in October 2023, triggered by popular demand, the platform was also opened to service corporate clients with a promise to open accounts within 48 hours.”
This move was very well received and to date, Moneybase has over 500 business customers on Moneybase managing business accounts.
“We are proud of this award-winning platform which reflects our strong belief that managing one’s finances should be simple, easy and straightforward. We are also proud to be serving a growing customer ecosystem, from high-net-worth wealth management to digital-first customers. We can confidently say that we have the best overall platform locally, but also one which can compete internationally,” concluded Alan Cuschieri.
