When the Malta Financial Services Advisory Council launched its
strategy for financial services in 2024, there were a number of
deliverables listed for the Malta Business Registry (MBR).
The MBR, under the leadership of Geraldine Spiteri Lucas, was
well prepared. Many of the projects had already been identified in
its own strategy, starting with digitisation, while three of the
MFSAC's five pillars – speed, simplification and
specialisation – were already guiding its progress. The other
two, standards and sustainability, were already part of the ethos
for the MBR, as well as for other regulators and authorities.
One of the projects that was already underway at the launch of
the financial services strategy was digitisation, aimed not only at
external users but also to help with internal processes. For
example, artificial intelligence is going to be used to vet the
hundreds of thousands of annual accounts sent in every year, which
is currently done by the MBR staff.
