With an excellent business climate and a small population that’s quick to adapt to changes, fintech in Malta has quickly taken root and become an important part of the already strong and well-established financial services sector. The demand is driven both by local companies, spearheaded by online gambling (igaming) companies, as well as overseas international demand for fintech services.

Many leading fintech companies have set up Malta, either having their headquarters here or an office for specific operations such as development, sales, or account management.

The purpose of Fintech In Malta is to act as a connection point and information source for all things related to fintech here in Malta.


What is fintech?

Fintech is a portmanteau of the worlds financial and technology. While there is no clear and common definition, most would at least agree that fintech is the convergence of financial services with digital and internet-enabled technology.

Fintech services include:

  • Online payment processing (ecommerce, B2B payments, online gambling).
  • Offline payment processing (shops).
  • Prepaid and banking services.
  • KYC and AML tools to help businesses reduce risk and achieve regulatory compliance.
  • E-money services.

Malta

Malta is a country in the Mediterranean Sea between the Italian island of Sicily and northern African countries Libya and Tunisia.

Since 2004, Malta is an EU member and in 2008 changed currency to the Euro (EUR). Malta is a part of the Schengen Area, along with most other EU members and non-EU members Norway, Switzerland, and Iceland.

  • Population: Circa 450,000 of which at least 31,000 are foreigners including 25,000 from other EU countries.
  • Area: 316 km² (122 mi²), 187th largest country in the world.
  • Official languages: English and Maltese. Due to exposure to Italian media, many Maltese have a good grasp of Italian.
  • Currency: Euro (EUR).
  • GDP (nominal): 9.3 billion EUR.
  • Timezone: Central European Time (CET).
  • Independence: September 21st 1964, from the United Kingdom.
  • Unemployment rate: 4.1% (Eurostat 2017), third lowest in the EU.
  • Government deficit-to-GDP ratio: +1.0% (Eurostat), second highest in the EU.
  • Economic growth rate: 6.2% (Eurostat 2015), second highest in the EU.
  • Legal system: mix of English common law and Civil law.