Joe Bannister, Chairman of the Malta Financial Services Authority, says the financial services sector needs to brace itself for more centralised and integrated financial supervision at EU level. Despite this, he thinks that the opportunity for Malta to position itself as an innovative finance hub has never been greater, and blockchain technology could play a key role in the finance centre’s future.
iGaming companies should further strengthen the level of communication within the industry on governance matters, highlighting processes and procedures they have in place to manage the various risks posed by this sector, says Kenneth Farrugia, Chief Business Development Officer at Bank of Valletta.
While new regulations are affecting banks’ bottom lines, Raymond Busuttil of IIG Bank urges smaller players to remain niche in their approach and not to emulate larger institutions with a full package of consumer services.
