--- title: "White-Label Digital Banking for Maltese EMIs | MFSA" description: "Launch e-money accounts under an MFSA financial institution licence: branded apps, cards, onboarding, SEPA and help with your MFSA application." url: "https://crassula.io/solutions/digital-banking/malta-emi/" lang: "en" image: "https://crassula.io/static/images/og/crassula-default.d7d01fb8a962.jpg" alternates: "en": "https://crassula.io/solutions/digital-banking/malta-emi/" "de": "https://crassula.io/de/solutions/digital-banking/malta-emi/" "es": "https://crassula.io/es/solutions/digital-banking/malta-emi/" "fr": "https://crassula.io/fr/solutions/digital-banking/malta-emi/" "x-default": "https://crassula.io/solutions/digital-banking/malta-emi/" index: "https://crassula.io/llms.txt" --- Malta · Financial institution (e-money) # Digital banking apps for e-money institutions licensed in Malta In Malta an EMI is a financial institution under the Financial Institutions Act, and the MFSA wants to see it directed from the island. We supply the customer apps and the account engine, so your local board decides on customers and risk with full visibility. [Request demo](https://crassula.io/request-demo/) [Digital Banking →](https://crassula.io/solutions/digital-banking/) Your market**Malta**Financial institution (e-money) - Web, iOS and Android apps under your brand - Personal and business e-money accounts - Cards through the issuer you contract - English interface plus 15+ languages Rails your customers can use **SEPA Credit Transfer****SEPA Instant****SWIFT****Card payments****Internal transfers** What the regulator asks about your IT**7** Case Studies ## See what teams build with Crassula. ![Multipass](https://crassula.io/static/images/solutions/cases/logo-multipass.7fb14a8eede7.png) - Multi-currency accounts - Cross-border payments - BaaS connections Live on Crassula ### [Custom financial products for global businesses.](https://crassula.io/cases/multipass/) Global business accounts, multi-currency payments and cross-border solutions, supported by Crassula APIs and BaaS connections. [Read case study: Multipass](https://crassula.io/cases/multipass/) ![LuxPay](https://crassula.io/static/images/solutions/cases/logo-luxpay.7d1fa138b9ba.png) - IBAN · SEPA - Card issuing - KYC onboarding Live on Crassula ### [A connected banking platform for modern financial services.](https://crassula.io/cases/luxpay/) Account details, SEPA payments, card issuing, KYC onboarding and multi-currency exchange in one financial product. [Read case study: LuxPay](https://crassula.io/cases/luxpay/) Digital Banking · Financial institution (e-money) ## What a Maltese EMI can put in customers' hands ### E-money accounts with IBANs Customers sign up from their phone, pass identity checks and receive an account they can top up, spend from and pay out of by SEPA. ### Business accounts for EEA companies Onboarding for companies with directors and beneficial owners, multiple users per account and payment approvals for finance teams. ### Multi-currency balances Separate balances per currency with conversion inside the app, priced through your own price lists. ### Branded cards Virtual cards at onboarding, plastic on request, and in-app controls for limits, freezing and PIN reminders. The issuing contract is yours. ### Open banking access Consent screens that let customers connect third-party apps to their account under PSD2. ### What this licence does not cover - A bank deposit. E-money must be redeemable at par and you cannot pay interest on it. - Credit funded with customer money. - Safeguarding with another EMI or payment institution. MFSA rules require a credit institution, secure liquid assets or insurance. Your market ## What the regulator asks about your IT Each requirement, what the platform gives you for it and who owns it after launch. 1 Effective direction from Malta by at least two individuals Back office roles for your Malta-based executives to approve onboarding, limits and exceptions, with a full audit trail. You 2 A board of at least three, with an independent non-executive and a Malta-resident member Board-level reporting from the platform: customer numbers, volumes, limits breached and open reviews. You 3 Governance and outsourcing rules in FIR/03 A service description, subcontractor list and audit, access and exit terms to support your outsourcing notification. You, with our input 4 ICT and DORA requirements in FIR/03 Architecture, hosting, security and continuity documentation for your ICT policy and register of information. You, with our input 5 Customer authentication in every channel Two-factor login and payment confirmation built into web and mobile apps. Crassula 6 Customer due diligence for remote onboarding Questionnaires per client type and identity checks through connected providers, with documents kept against each customer. Your MLRO 7 Pre-licensing conditions met before the licence is issued A production environment, configured and tested, ready while you finish the remaining conditions. Shared Malta ## Payment rails and providers Rails your customers can use SEPA Credit Transfer SEPA Instant SWIFT Card payments Internal transfers **24/7**real-time processing, no batch window **60+**payment and provider integrations connected **150+**companies run on Crassula **15+**languages the platform speaks Malta ## Dates to plan around Rules that change what you have to build, in the order they apply. 1. **1 Jan 2025** New MFSA fees apply: EUR 10,000 to apply for an e-money licence and an annual fee starting at EUR 25,000 plus a variable part. 2. **17 Jan 2025** DORA applies to Maltese EMIs alongside the ICT rules in FIR/03. 3. **9 Oct 2025** Maltese EMIs that send euro credit transfers have had to check the payee name for the payer since this date. 4. **9 Apr 2027** Your customers must be able to receive and send euro payments as SEPA Instant. 5. **Around 2028** PSD3 is expected to apply and merge the e-money and payment institution regimes. The MFSA will update its rules ahead of that. Financial institution (e-money) ## Starting the MFSA process for an e-money licence? Name us in your file. The MFSA route starts with a Statement of Intent and a preliminary meeting before the full application. A working app shows the authority what your customers will actually use, and we help you describe it in the terms of the Financial Institutions Rules. [Talk to us about your application](https://crassula.io/request-demo/) Crassula provides technology and documentation support. We do not provide legal or regulatory advice and cannot guarantee the outcome of an application. 1. 01 ### A platform you can demonstrate A configured environment to show the regulator, not slides. 2. 02 ### The technical part of your application, prepared IT systems, customer authentication, outsourcing, ICT risk and DORA sections mapped to FIR/03 for your MFSA application. 3. 03 ### Providers lined up Banking, safeguarding and KYC providers from our network, matched to your licence. ![A customer checking her banking app in a café.](https://crassula.io/static/images/features/people/everyday-1200.e86174e595f2.webp) Digital Banking ## From Statement of Intent to first customers Take a founder team planning a multi-currency account for remote workers and small agencies across the EEA. Their Statement of Intent describes the product, and at the preliminary meeting they show a branded app with English and Italian screens, a business account and a virtual card. After the MFSA's no-objection they file the full application. When in-principle approval arrives, the pre-licensing conditions follow: capital, local key people, a safeguarding account with a credit institution and a tested production system. The platform is ready by then, so the last weeks go on hiring and banking. More on the licence: the [Malta financial institution guide](https://crassula.io/guides/licenses/malta-financial-institution/) and [EMI licensing in the EU](https://crassula.io/guides/licenses/electronic-money-institution/). Guides ## Read the licence guides ![Malta Financial Institution License in 2026: The Complete MFSA Guide](https://crassula.io/static/images/guides/malta-financial-institution/malta-bastion-preview-960.dde2f2649c04.jpg) ### [Malta Financial Institution License in 2026: The Complete MFSA Guide](https://crassula.io/guides/licenses/malta-financial-institution/) ![Electronic Money Institution (EMI) License in 2026: The Complete Guide](https://crassula.io/static/images/guides/electronic-money-institution/emoney-coin-preview-960.54bbaf747450.jpg) ### [Electronic Money Institution (EMI) License in 2026: The Complete Guide](https://crassula.io/guides/licenses/electronic-money-institution/) ![White-Label Mobile Banking in 2026: The Ultimate Guide](https://crassula.io/static/images/guides/white-label-mobile-banking/mobile-banking-pebble-preview-960.412714bbfaf1.jpg) ### [White-Label Mobile Banking in 2026: The Ultimate Guide](https://crassula.io/solutions/mobile-banking-app/guides/white-label-mobile-banking/) ![PSD3 and PSR in 2026: The Complete Transition Guide](https://crassula.io/static/images/guides/psd3-psr/psd3-prism-preview-960.fdc84015d1d8.jpg) ### [PSD3 and PSR in 2026: The Complete Transition Guide](https://crassula.io/guides/licenses/psd3-psr/) [**Explore all guides**Licensing, payments, cards and core banking, explained by our team.](https://crassula.io/guides/) Malta · Financial institution (e-money) ## FAQ The questions teams ask us before a first call. [**Not covered here?**Bring your question to a demo with our team.](https://crassula.io/request-demo/) Is a Maltese EMI licensed as a bank or as something else? As a financial institution under the Financial Institutions Act, Chapter 376 of the Laws of Malta. The MFSA licenses it and the operational rules sit in the Financial Institutions Rules, mainly FIR/03. What does the MFSA charge? Since January 2025 the application fee is EUR 10,000 for an e-money or payment licence, and EUR 15,000 if you apply for both. The annual fee starts at EUR 25,000 plus a variable part based on assets or volumes. How long does the process take? The law gives the MFSA three months from a complete application. In practice, an EBA peer review found Maltese authorisations averaged 10 to 12 months from submission, and the Statement of Intent stage comes before that. Who has to be in Malta? The head office, and at least two individuals who effectively direct the business. The board needs at least three members, including an independent non-executive and one Malta resident. Developers and support can work from elsewhere. Is Malta a common choice for EMIs? Yes. According to the EBA, Malta granted the most payment and e-money authorisations in the EU for applications filed in 2022 to 2024, 21 in total. Can we use the app for customers outside Malta? Yes, once you passport through the MFSA to each EEA country. The interface covers more than 15 languages and onboarding can be opened or closed per country. Malta · Financial institution (e-money) ## What a Maltese EMI can put in customers' hands Tell us your licence and country. We will map the rails, providers and documents you need. [Request demo](https://crassula.io/request-demo/) [**Know what you pay**One setup fee and a monthly plan with accounts and transactions included.*See pricing →*](https://crassula.io/prices/) [**Start with the API**Documented endpoints for accounts, payments, cards and customers.*Explore the API →*](https://crassula.io/features/api/)