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ARTICLE · 30 SEPTEMBER 2020

MFSA Launches Fintech Regulatory Sandbox

GTG Legal
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GTG Legal

GTG Legal

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The MFSA has launched the FinTech Regulatory Sandbox, allowing FinTech Operators to test their innovations within a regulatory environment for a specified period of time and under certain prescribed conditions.

MaltaTechnology
Cherise Abela Grech
Cherise Abela Grech
Steve Vella
Steve Vella

The MFSA has launched the FinTech Regulatory Sandbox, allowing FinTech Operators to test their innovations within a regulatory environment for a specified period of time and under certain prescribed conditions. The Sandbox applies to all FinTech Service Providers and FinTech Suppliers, allowing start-ups, technology firms and established financial service providers that approve of technologically-enabled innovation in their business models, applications or products.

The term "FinTech Service Provider" refers to a person who is duly licensed or otherwise authorised to provide or who intends to provide a service/s requiring a licence or other authorisation in terms of applicable financial services legislation currently in force in Malta and who utilises FinTech in its operations. A person may not refer to itself as being a FinTech Service Provider unless duly licenced or authorised by the Authority.

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