The FinTech Strategy aims to establish Malta as an international FinTech hub which supports and enables financial services providers in their journey towards the realisation of their contribution to the next technological revolution.
The MFSA intends to convene the necessary fundamentals and provide established firms and start-ups with a complete platform to explore their business concepts and solutions. Such a platform would offer the necessary space for innovation and growth whilst ensuring that the regulatory objectives of investor protection, market integrity and financial soundness are being met.
For the proposed Strategy to be successful, the MFSA has identified six elements as essential pillars in creating a holistic long-term approach towards the exploration of new technologies and innovations within the financial services sector.
These identified elements are: Regulations, Ecosystem, Architecture, International Links, Knowledge & Security.
The combination and endorsement of these pillars will enable FinTech businesses and other entities to address consumer needs by focusing on innovative product design, ease of use, accessibility and faster services.
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