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.
Global business accounts, multi-currency payments and cross-border solutions, supported by Crassula APIs and BaaS connections.
Read case study: Multipass
Account details, SEPA payments, card issuing, KYC onboarding and multi-currency exchange in one financial product.
Read case study: LuxPayCustomers sign up from their phone, pass identity checks and receive an account they can top up, spend from and pay out of by SEPA.
Onboarding for companies with directors and beneficial owners, multiple users per account and payment approvals for finance teams.
Separate balances per currency with conversion inside the app, priced through your own price lists.
Virtual cards at onboarding, plastic on request, and in-app controls for limits, freezing and PIN reminders. The issuing contract is yours.
Consent screens that let customers connect third-party apps to their account under PSD2.
Each requirement, what the platform gives you for it and who owns it after launch.
Back office roles for your Malta-based executives to approve onboarding, limits and exceptions, with a full audit trail.
YouBoard-level reporting from the platform: customer numbers, volumes, limits breached and open reviews.
YouA service description, subcontractor list and audit, access and exit terms to support your outsourcing notification.
You, with our inputArchitecture, hosting, security and continuity documentation for your ICT policy and register of information.
You, with our inputTwo-factor login and payment confirmation built into web and mobile apps.
CrassulaQuestionnaires per client type and identity checks through connected providers, with documents kept against each customer.
Your MLROA production environment, configured and tested, ready while you finish the remaining conditions.
SharedRails your customers can use
Rules that change what you have to build, in the order they apply.
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.
DORA applies to Maltese EMIs alongside the ICT rules in FIR/03.
Maltese EMIs that send euro credit transfers have had to check the payee name for the payer since this date.
Your customers must be able to receive and send euro payments as SEPA Instant.
PSD3 is expected to apply and merge the e-money and payment institution regimes. The MFSA will update its rules ahead of that.
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 applicationCrassula provides technology and documentation support. We do not provide legal or regulatory advice and cannot guarantee the outcome of an application.
A configured environment to show the regulator, not slides.
IT systems, customer authentication, outsourcing, ICT risk and DORA sections mapped to FIR/03 for your MFSA application.
Banking, safeguarding and KYC providers from our network, matched to your licence.
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 and EMI licensing in the EU.
The questions teams ask us before a first call.
Not covered here?Bring your question to a demo with our team.Tell us your licence and country. We will map the rails, providers and documents you need.
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