Open Banking in Malta: Why Small Markets Can Lead Big Change
July 8, 2025
Open Banking has reshaped the way we think about payments, data and trust — and Malta is an excellent example of how a smaller market can embrace these shifts and turn them into real opportunities.
Over the past few years, Malta has worked hard to position itself as a competitive financial hub. With a robust regulatory environment, a proactive fintech community and a digitally-savvy population, the island is well-placed to make the most of Europe’s Open Banking push.
More Than Just Compliance
Across Europe, Open Banking was born from regulation — PSD2 forced banks to open up customer data to licensed third parties. But in Malta, many players see Open Banking as much more than a compliance exercise. Local banks and fintechs are collaborating to develop better customer experiences, faster payments and new business models that go beyond traditional card rails.
Real-Time Payments, Real Impact
One of the biggest drivers for Open Banking’s growth in Malta is the appetite for instant, direct payments. With Open Banking-enabled Account-to-Account (A2A) transactions, businesses can bypass expensive card fees, settle payments instantly and reduce fraud risks — all while giving consumers more control over their money.
This is particularly powerful for sectors like online retail, hospitality and gaming — where the ability to move money safely and instantly is crucial for trust and growth.
Education and Awareness Still Matter
Despite its promise, Open Banking adoption still depends on trust and understanding. Merchants and consumers alike need clear information about how it works and why it’s safe. Fintech companies and industry bodies in Malta play a key role in bridging this gap by educating the market, working with regulators, and sharing success stories.
What’s Next?
As Europe moves closer to PSD3 and new instant payment rules, Malta’s fintech sector is expected to evolve even faster. The island’s size is its advantage: collaboration between banks, regulators, and payment innovators can happen quickly, setting an example for larger markets.
At Noda, every day, direct bank-to-bank payments can empower businesses to cut costs and build trust with customers — and Malta is proving to be fertile ground for this vision.
Over the past few years, Malta has worked hard to position itself as a competitive financial hub. With a robust regulatory environment, a proactive fintech community and a digitally-savvy population, the island is well-placed to make the most of Europe’s Open Banking push.
More Than Just Compliance
Across Europe, Open Banking was born from regulation — PSD2 forced banks to open up customer data to licensed third parties. But in Malta, many players see Open Banking as much more than a compliance exercise. Local banks and fintechs are collaborating to develop better customer experiences, faster payments and new business models that go beyond traditional card rails.
Real-Time Payments, Real Impact
One of the biggest drivers for Open Banking’s growth in Malta is the appetite for instant, direct payments. With Open Banking-enabled Account-to-Account (A2A) transactions, businesses can bypass expensive card fees, settle payments instantly and reduce fraud risks — all while giving consumers more control over their money.
This is particularly powerful for sectors like online retail, hospitality and gaming — where the ability to move money safely and instantly is crucial for trust and growth.
Education and Awareness Still Matter
Despite its promise, Open Banking adoption still depends on trust and understanding. Merchants and consumers alike need clear information about how it works and why it’s safe. Fintech companies and industry bodies in Malta play a key role in bridging this gap by educating the market, working with regulators, and sharing success stories.
What’s Next?
As Europe moves closer to PSD3 and new instant payment rules, Malta’s fintech sector is expected to evolve even faster. The island’s size is its advantage: collaboration between banks, regulators, and payment innovators can happen quickly, setting an example for larger markets.
At Noda, every day, direct bank-to-bank payments can empower businesses to cut costs and build trust with customers — and Malta is proving to be fertile ground for this vision.