Testing innovation – Preparing for the next generation of financial services
Innovation is critical to every sector. In financial services – which is a significant contributor to Malta’s economy – innovation can add sustainability and contribute to overall business performance and success.
Yet, innovation doesn’t just happen on its own – it requires the right culture, investment, ideas and regulation. Moreover, it needs a secure environment where it can flourish.
As envisioned within the MFSA Fintech Strategy, the Authority seeks to establish Malta as an international FinTech hub which harnesses and fosters sustainable innovation, and this is exactly what the establishment MFSA FinTech Regulatory Sandbox strives to achieve.
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What is a Regulatory Sandbox?
The Sandbox will provide a regulatory environment for FinTech operators to test their innovation for a specified period of time within the financial services markets, under certain prescribed conditions.
The initiative aims to encourage innovation in a sustainable manner while offering true value and protection to consumers of financial services. It will also act as an enabler to enhance legal certainty within the market and encourage knowledge sharing through...