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Payment Services Series : Capital Adequacy

Issue No 3 : Capital Adequacy

As regulated financial services providers, payment and e-money institutions are subject to a capital adequacy obligation, referred to as the own funds requirement. Apart from being a key regulatory requirement, capital adequacy is a fundamental safeguard to stakeholders of a financial institution in the event of a wind down and a crucial aspect in strengthening financial and operational resilience.

Embark (Malta) Limited can provide you with specialist advisory services in relation to your capital adequacy processes.

Get in touch should you wish to learn more on how we can help.

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Payment Services Series : Safeguarding of Funds

Issue No 2 : Safeguarding of Funds

Payment and e-money institutions authorised under the Financial Institutions Act (Cap. 376) are required to safeguard clients’ funds in accordance with applicable regulatory requirements.  This is fundamental to give consumers confidence that their funds are protected. 

The rationale behind safeguarding clients’ funds is fully understood and universally accepted, but the practical application of regulatory principles has proven at times to be rather complex.

Embark can assist in developing a robust safeguarding of funds framework.  Get in touch should you wish to learn more on how we can help.

This article was authored by Pierre-Paul Gauci (Senior Advisor – Regulatory and Business)

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Payment Services Series : PSD3-The EBA Wishlist

We are today launching a new series of informative articles covering key compliance issues in payment services.  Our articles will help you navigate the complex world of payments compliance helping you keep up-to-date with latest developments in this space.

Issue No 1: PSD3 – The EBA Wishlist

All eyes are set on the European Commission which is currently undergoing a review of the second Payment Services Directive (PSD2). While it is expected that a first legislative draft shall be published in Q2 2023, the coming into force of the revised Directive is expected to be well beyond 2023 in view of the long-wielded EU legislative processes.

In this article, we critically analyse key proposals made by the European Banking Authority in response to a Call for Advice by the European Commission – a first step towards shaping a revised Directive.

Embark (Malta) Ltd can provide you with specialist advisory services in relation to your payment and/or e-money business.

This article was authored by Pierre-Paul Gauci (Senior Advisor – Regulatory and Business)

When consultancy is more than just mere advice


As a company seeks to grow, so do the responsibilities. Inhouse expertise may not always be available and when hard work is not enough for a solid strategy to take the business to new levels, an outsider’s unbiased perspective often turns out to be a key ingredient. It is about knowledge and skills-gaps in areas that may not be readily available internally. This is when a consultant’s role is a learning opportunity to take businesses to newer heights in the shortest time, filling in the identified areas for a smoother future.


The Benefits of a consulting associate



Different consultants specialise in distinct areas. Consultants can analyse your business providing an impartial perspective and offer the business with bespoke guiding solutions to the identified requirements.

Consultants bring with them a wealth of information and various business opportunities including any funding opportunities of which the business may not be aware of and which they can tap into.

Guidance can also be offered in various areas including succession planning, business continuity planning, strategic management, human resourcing as well funding options.



Challenges are part of the daily business life. When such challenges require immediate corrective action and inhouse expertise is not readily available, consulting services have the possibility of acting fast. Companies that incorporate the use of consultants in their planning, avoid having to do that in a crisis situation with the consequence that it might not result as cost effective.


A bird’s eye view

Being captivated by the daily management of the organisation, business owners often struggle to see the complete picture. Strengths and weaknesses are part of each and every business, and with time it is very easy to become blinded to them and therefore, overlooked. As consultants often work in different industries, they have the ability to use this acquired knowledge and adapt it across other industries to see the bigger picture.


Expanding Your Business

Whether it is in the interest of growth, expansion, diversification or business innovation, a business consultant who specialises, and has practical experience in the identified area, can analyse the business identifying potential weaknesses and devising strategies to address these issues for a future-proof and sturdy growth.


Attracting and Retaining top talent

An expanding business is more attractive to prospective employees. Top talent is an asset for any company, and growth and expansion provide newer opportunities to present and future employees. Newer heights are also facilitated with top talent at hand. This is a winning streak either way.


Long Term Cost Effectiveness

It is to be ensured that the time and money allocated to the involvement of consultants is an investment and not a cost and is driven by a long-term plan. While you continue with the daily work of your business, consultants will be at work solving your company’s issue. This saves you valuable time which at the end of the day costs money. Your business stands to gain the knowledge of consultants where gaps can be identified thus provide your trusted employees with a learning experience in the identified skills gap.


Our policy is to provide you with our honest judgement which may not necessarily be what you would like to hear. This is our policy and how we build trust with all our clients. You can contact us with your requirements; there is no obligation. Our offices at Embark (Malta) Ltd may be reached between Monday and Friday between 8am and 5pm. You can also send us an email on info@embark.mt

Developing employees into leaders

Lack of leadership is one of the largest barriers to growth at companies around the world. The primary talent challenge faced by the worldwide organisations is the development of new leaders; which is quite an urgent issue that requires immediate attention.

Skilled leaders run short, with 85 percent of the executives not confident in their leadership pipelines. Statistically, there are only 13% of the companies who state that they do excellent job developing skilled leaders at all levels.

Millennials are expected to comprise 75 percent of the workforce by 2025; which represent that soon enough they will become the leaders of today rather than the leaders of tomorrow. 66 percent of the companies claim they are “weak” in improving. Simultaneously, employees define opportunities to develop their own leadership skills as their priority for remaining with an organisation.

Currently, organisations are experiencing a training gap rather than a skills gap. This results from 61 percent of the companies who do not offer leadership training to their employees. Hence, there is a deficiency in leadership. Indeed, this shows that these programs are a need for the company for it to continue flourishing and growing with the help of its skilled leaders.

In addition, the performance of your leaders leaves a huge impact on your end result.  Their investment will increase competitive advantage over other companies.

It is of utmost importance to understand your employees and their ambitions, in order to continue developing their personalities professionally to advance in their career. Most of the employees believe they would endure longer with a company if they saw stronger career paths.

It is also important to define what the organisational goals are and ultimately, it is the responsibility of the senior leaders and the key stakeholders to determine the type of skills needed to execute the company’s strategy.

It is beneficial to look at the leadership skills gap by surveying the employees and assessing how they feel on their job. In turn, this will help to identify what improvement can be done in enhancing the company’s culture by enriching learning experiences and adding more value.

Listing the targets and the steps to achieve those organisational objectives is essential. One should also create a tool to measure the organisation’s overall performance and growth.

Our team is ready to assist you in this respect. We help organisations to manage both the training and the skills gap, help organisations prepare themselves to develop employees through specific training and implementation of mentoring programmes. Please feel free to talk to us.