Answer ... Businesses seeking to operate as licensed fintech service providers will need to adhere to the fitness and properness assessments imposed by the local authority, the Malta Financial Services Authority (MFSA). Thus, senior management and ultimate beneficiary owners of prospective applicants must cumulatively prove that:
- there is sufficient solvency;
- the individuals involved in the project are technically competent in their fields; and
- all persons are of good repute.