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Title: An analysis of Malta’s preparedness for FinTech and RegTech
Authors: Zammit, Carl
Keywords: Financial services industry -- Malta
Financial services industry -- Information technology -- Malta
Money laundering -- Prevention -- Malta
Issue Date: 2017
Abstract: Market players within the Financial Services Industry are quickly realising that Information Technology can play an important and significant role in improving the industry. This may be done in several ways such as, inter alia, giving financial access to new customers in third world countries, as well as help regulators and financial firms in managing financial data in a more efficient manner without compromising other functions. In view of the above, this dissertation will analyse new forms of Financial Technology (“FinTech”) services being offered within the market whilst also analysing different Regulation Technology (“RegTech”) solutions being introduced to improve market efficiency. The scope of this dissertation is not to analyse a vast list of FinTech and RegTech solutions as the market is huge. The researcher will only focus on Robo-advice and payments systems from a FinTech perspective whilst also focusing on Anti-Money Laundering (“AML”) and data reporting from a RegTech perspective. The researcher analysed the above through three different perspectives. First of all, interviews were carried out with the MFSA in order to gain insight as to the level of awareness with respect to FinTech and RegTech and whether the Authority is working to cater for future services and solutions in this regard. Furthermore, the researcher carried out interviews with local banks in order to obtain a better understanding of their level of awareness, preparedness and willingness to make use of FinTech and RegTech. Finally, the researcher carried out an online questionnaire to determine whether there is interest for such services from the perspective of the retail sector. The findings from the gathered data suggest that the local industry is taking a wait and see approach. This was backed up by the fact that the regulator is involved in discussions with high level European regulatory bodies, whilst financial firms are aware of FinTech and RegTech solutions but generally not making use of such products and services.
Description: B.COM.(HONS)BANK.&FIN.
Appears in Collections:Dissertations - FacEma - 2017
Dissertations - FacEMABF - 2017

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