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Steve Grech
Chairman of the Financial Institutions Association Malta (FIMA)

New regulatory framework transforms payments sector and brings about new opportunities – FIMA Chairman

2018 is a game-changing year for banks and payment services providers as the Payments Services Directive 2 (PSD2) came into effect on January, 13. The new EU Directive aims to increase innovation, transparency and competition within the sector, requiring European banks to open their infrastructures to licensed third-party providers. This will enable more companies to get into the payments space, says Steve Grech, Chairman of the recently launched Financial Institutions Malta Association (FIMA).

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