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FinTech in Malta

Riding the Next FinTech Wave

Malta is positioning itself as the go-to-place for innovative fintech companies, and among them, InsurTech and RegTech as well as the many industry technology specialists creating and developing applications for this industry.

The island has already proved that it can develop a global tech-based industry. The country offers financial software entrepreneurs the opportunity to be located in one of Europe’s fastest-growing finance centres, in close proximity to potential contractors and investors. Companies are also using Malta as a springboard to nearby markets, in particular those of Africa, which is increasingly becoming a testing ground for new financial technologies.

FinTech companies have been drawn to Malta because the island provides a wealth of talent, both tech and finance. The local labour pool is deep enough to meet the needs of ICT employers across the range of technical and creative skills, while specialist knowledge can easily be sourced from overseas due to an incentive programme for foreign workers. International connectivity is also pivotal to the further development of this sector and is guaranteed by three operators providing international gateway services via fibre-optic cables to mainland Europe.

The island’s small size makes it the ideal test environment for new technologies and ventures in need of a flying start. Companies can develop and test new products and services on the diverse, yet concentrated, local market before exporting their services and solutions to Europe and further afield.

In addition, established companies, seeking more innovative and economical solutions, are ready to partner and collaborate with new players, creating exciting opportunities for companies disrupting segments such as payments, insurance, investment as well as compliance in equal measure.

FinTech-6

 

Fintech brochure

Why Malta for Fintech Guide | 2021-2022 Edition

Download your Why Malta for Fintech Guide; contents include Fintech Sandbox and Innovation Hub, Support for Disruptive Technologies, Fintech Market Opportunities, Malta’s Fintech Support System

FinTech – Our Sector at a Glance  

FinTech is not just London, Singapore, Hong Kong, and San Francisco. These global hubs all deliver great financial products and services, but there’s plenty happening outside of them. Explore what Malta has to offer and plug into our FinTech ecosystem.
  • Well Diversified Sector

Our FinTech sector is a story of big and small. Some companies need no introductions – besides Malta, they have offices in other fintech hubs. Others are niche players or start-ups, which are equally crucial for the development and growth of our fintech economy. They are either in the process of optimising their business models or are past the seed and development stage, know their product is feasible, and are now working on scaling it up.

Key cluster strengths span from banking and payment providers to platforms for AML/KYC compliance, risk and asset management, as well as insurtech and digital identity management, and beyond. We are now building on that expertise, branching out into other FinTech segments and are looking to attract global partners to apply the solutions developed by firms in Malta. In our small but active finance community, it’s easy for technology-driven companies to connect and collaborate to create new disruptive products and business models.

  • FinTech Sandbox and Innovation Hub

The Malta Financial Services Authority (MFSA), the regulator for all financial services in Malta, has a clear fintech strategy. The authority is committed to establishing the right conditions for FinTech start-ups and scale-ups, tech firms and traditional financial services firms to develop fintech products that have the power and potential to define the next generation of finance. The MFSA has established a FinTech Regulatory Sandbox which provides financial services providers with a controlled environment to test innovative products and services.

The authority is also building up a FinTech Innovation Hub, which will offer firms guidance on regulatory matters while firms can also benefit from shared resources, including operational infrastructure. As FinTech firms go cross-border, the MFSA is also working with its counterparts in other countries, in and outside the EU, to promote growth and foster cooperation.

  • Support for Disruptive Technologies

FinTech companies can also benefit from Malta’s supportive stance for emerging technologies. Malta is one of the few countries in the world with clearly established regulatory frameworks for DLTs, ICOs, and virtual currencies. Malta also established a new regulatory authority – the Malta Digital Innovation Authority (MDIA). The MDIA, the first regulator of its kind in the world, certifies DLT platforms and smart contracts while handling the voluntary registration of technology arrangements.

The MDIA works hand in hand with the MFSA, which has been tasked with the approval and supervision of virtual financial assets exchanges. The ultimate aim of the regulation is to bring legal order to a market environment that thus far was mostly unregulated in order to ensure consumer protection and market integrity.

AI and IoT technologies are next on the country’s agenda. Globally and locally, most FinTechs are already using AI, and the technology is expected to dominate the market by 2025. Malta is currently identifying policy, regulatory and fiscal measures to strengthen its appeal as a hub for foreign investment in AI and IoT technologies.

  • FinTech Market Opportunities

The small size of our island makes it the ideal test environment for new technologies and ventures in need of a flying start. Companies can develop and test new products and services on the diverse, yet concentrated, local market before exporting their services and solutions to Europe and further afield.

In addition, established companies, seeking more innovative and economical solutions, are ready to partner and collaborate with new players, creating exciting opportunities for companies disrupting segments such as payments, insurance, investment as well as compliance in equal measure. Malta’s Government is also a big backer of new technologies, including DLT, AI, and IoT, and wants to infuse these technologies throughout all government services. This will ensure a flow of projects to attract overseas players to Malta and encourage start-ups.

You should also consider Malta if you wish to access the high-growth markets of the region. Malta has long-standing relationships with a number of African governments, and there are tremendous opportunities for companies wishing to enter the fast-growing African FinTech scene while basing themselves in an EU member state.

  • Our FinTech Support System

Fintech companies have been drawn to Malta because the island provides a wealth of talent, both tech, and finance. The local labour pool is deep enough to meet the needs of ICT employers, with the workforce having a range of technical and creative skills. If needed, specialist knowledge can also easily be sourced from overseas due to an incentive programme for foreign workers, who can benefit from a 15% flat rate of personal income tax provided they met certain criteria.

International connectivity is also pivotal to the further development of this sector and is guaranteed by three operators providing international gateway services via fibre-optic cables to mainland Europe. The presence of data centres, security auditors, and cyber security experts contributes to a tailor-made environment that is conducive to growing a successful business.

Consultants with technical and/or financial expertise are always on hand, while our lawyers and accountants have a wealth of experience, ensuring that a vibrant and creative cluster of talent and know-how is in place to help companies manage and grow their operations.

Artificial Intelligence

Disclaimer

The content on this website is for informational purposes only. The information contained therein should not be construed as providing legal, tax, investment, financial, or other advice. Nothing contained in this website constitutes a solicitation, recommendation, endorsement, or offer by FinanceMalta.

Benefits

Malta as an Innovative Jurisdiction

Wealth of talent

Wealth of talent

The island provides a wealth of talent in both tech and finance

Fast-growing finance centre

Fast-growing finance centre

Malta is the go-to place for innovative fintech companies

Springboard to nearby markets

Springboard to nearby markets

Companies are using Malta as a base to reach both European and African markets

International connectivity

International connectivity

Three operators provide international gateway services via fibre-optic cables to mainland Europe

Ideal test environment

Ideal test environment

Malta’s small size makes it the ideal test environment for new technologies and ventures

Partnership and collaboration opportunities

Partnership and collaboration opportunities

Established companies seeking more innovative and economical solutions are ready to partner and collaborate with new players

Fintech Articles

01
INSIGHT Interview: Alan Cuschieri, Founder of Moneybase
FinanceMalta

by FinanceMalta

5th August 2022

Talent Feature: How education can keep up with finance transformation
FinanceMalta

by FinanceMalta

5th August 2022

Member Spotlight: Copy House
FinanceMalta

by FinanceMalta

5th August 2022

Member Spotlight: Muscat Mizzi Advocates
FinanceMalta

by FinanceMalta

5th August 2022

Member Spotlight: Fyorin
FinanceMalta

by FinanceMalta

5th August 2022

PrimeGlobal Named Association of the Year 2022 at IAB Awards ¦ Winning in Business with Advisory Culture.
Griffiths + Associates Ltd

by Griffiths + Associates Ltd

25th July 2022

Picking The Right Content Marketing Agency For Your Tech Brand
Copy House Ltd

by Copy House Ltd

26th May 2022

What You Need To Know About Creating a B2B Buyer Persona
Copy House Ltd

by Copy House Ltd

26th May 2022

14th International Taxation Conference l organized by the Malta Academy for Taxation Studies & the Malta Institute of Management l 3rd May 2022
Griffiths + Associates Ltd

by Griffiths + Associates Ltd

3rd May 2022

VC Shifts Operations To Regus Dragonara Business Centre
VC (VacancyCentre)

by VC (VacancyCentre)

6th April 2022

FinXP becomes a Shopware Technology Partner
FinXP

by FinXP

22nd March 2022

Webinar Fostering FinTech in Malta: Key Takeaways
FinanceMalta

by FinanceMalta

15th March 2022

FinXP and Trust Payments partner with Culpa Inkasso for innovative online debt collection solution
FinXP

by FinXP

10th March 2022

Technical Conference 2022 | March 9-11, 2022 | Budapest, Hungary
Griffiths + Associates Ltd

by Griffiths + Associates Ltd

10th March 2022

PrimeGlobal Honored To Win In Three Categories At IAB Awards
Griffiths + Associates Ltd

by Griffiths + Associates Ltd

19th November 2021

FinTech – Building a Cluster of Global Repute
FinanceMalta

by FinanceMalta

22nd September 2021

Member Spotlight – Wamo: Making QR Code Payments Mainstream in Europe
FinanceMalta

by FinanceMalta

22nd September 2021

FinXP becomes a principal member of Mastercard
FinXP

by FinXP

9th September 2021

Malta & EU residence programme for digital nomads
1st Step Solution LTD

by 1st Step Solution LTD

10th August 2021

FinXP wins Malta’s Best Alternative Banking Award
FinXP

by FinXP

23rd July 2021

Roundtable Insights: Cyber security and Financial Services
FinanceMalta

by FinanceMalta

8th July 2021

Member Spotlight – Trust Stamp: Advancing Financial Inclusion in Emerging Markets from Malta
FinanceMalta

by FinanceMalta

8th July 2021

FinXP launches Real-Time Payments
FinXP

by FinXP

23rd June 2021

FinXP chosen as Banking Partner for Crypto Payment Solution Utrust
FinXP

by FinXP

13th May 2021

Member Spotlight – RiskDeck: Fintech Made in Malta
FinanceMalta

by FinanceMalta

29th April 2021

FinXP implements ComplyRadar for automated transaction monitoring
FinXP

by FinXP

27th April 2021

FinXP partners with CashtoCode, enabling digital merchants to accept cash payments
FinXP

by FinXP

14th April 2021

FinXP Releases Whitepaper on How Payments Strategy Enables Growth Into New Markets
FinXP

by FinXP

12th April 2021

Seamless Middle East 2020: An exclusive insight
Infocredit Group Limited

by Infocredit Group Limited

4th December 2020

Parliamentary Secretary for Financial Services and Digital Economy Clayton Bartolo launches the MFSA FinTech Regulatory Sandbox
FinanceMalta

by FinanceMalta

23rd July 2020

FinanceMalta’s chairman addresses FinTech Junction event in Berlin
FinanceMalta

by FinanceMalta

8th January 2020

Fintech: MFSA Circular to VFA Service Providers
FinanceMalta

by FinanceMalta

17th December 2019

FinanceMalta’s final BlockFinance event for 2019 delves into STOs
FinanceMalta

by FinanceMalta

6th December 2019

Malta places 1st in European Code Week for 3rd consecutive year 
FinanceMalta

by FinanceMalta

5th November 2019

Malta participates in Decentralized 2019 Conference in Athens
FinanceMalta

by FinanceMalta

5th November 2019

34 prospective Virtual Financial Asset (VFA) Service Providers submit letter of intent to obtain authorisation under the VFA Act
FinanceMalta

by FinanceMalta

4th November 2019

FinanceMalta kicks off Amsterdam Fintech innovation summit
FinanceMalta

by FinanceMalta

24th October 2019

Fintech Events

01
September

27

Nordic Fintech Week 2022

Copenhagen, Denmark

October

13

Startup Festival

Villa Bighi, Kalkara

November

1

Fintech Focus Summit – Digital Transformation

London, United Kingdom

Fintech Publications

01
Consultation paper on the Virtual Financial Assets rules for VFA agents – July 2018

Report

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