Issue link: https://maltatoday.uberflip.com/i/1464183
maltatoday | SUNDAY • 10 APRIL 2022 13 COMMERCIAL DURING 2021, MeDirect Group moved forward dynamically in the implementa- tion of its strategic roadmap and demon- strated continued resilience and ability in responding to a rapidly evolving market environment through its transformation and technology strategy. When announcing the full-year 2021 financial results, MeDirect stated that it continued to transform its balance sheet, developed its WealthTech platform by launching its new Wealth SuperApp in both Malta and Belgium, launched a num- ber of new asset classes such as Belgian and Maltese mortgages and built its capital buffers to historically high levels. "Our strategic goal is to create a pan-Eu- ropean WealthTech leader and grow a complementary specialised mortgage platform as the two main sources of val- ue creation. The successful delivery of that strategy rests on the ability to build our WealthTech platform, grow our retail franchise focused on affluent customers, de-risk and diversify our balance sheet through mortgages and strengthen the op- erating model," said Arnaud Denis, Chief Executive Officer of MeDirect Group. One core development that took place in 2021 was the continued development of MeDirect's Wealth SuperApp, designed to meet the needs of the underserved affluent market segment for wealth services. The aim is to offer, on a single platform with open architecture, a broad range of online investment solutions, superior user expe- rience and attractive pricing, combined with high quality transactional banking capabilities. Customers can choose from amongst more than 1,500 mutual funds, as well as 500 ETFs, 3,000 equities and 300 bonds, trading on 17 stock exchanges around the world. This package of investment services is complemented by seamless and easy-to- use mobile banking with multi-curren- cy capabilities. Later in 2022, MeDirect intends to launch its virtual and physical card product. Through one attractive and easy-to-use platform, MeDirect provides its clients with the choice of how they want to invest and grow their money, while giv- ing them the possibility to use the app seamlessly for everyday banking. Mr Denis added: "The Group operates as a tech company on par with fintech stand- ards. MeDirect has evolved as a service aggregator with a cloud-agnostic platform designed with scale in-mind and substan- tial room for growth. As one of its core ad- vantages, MeDirect owns the intellectual property of critical elements of its value proposition, including all client-touch- points and service aggregation capabilities. This has enabled the delivery of a true om- ni-channel solution available on both web and mobile." He said that the Group's performance was achieved in a year marked by the ex- treme disruptions resulting from the Cov- id-19 pandemic, as well as economic and geo-political dislocations including higher inflation, supply chain disruptions and in- creased international tensions. Michael A. Bussey, Chairman of MeDi- rect Group stated that "notwithstanding these 2021 headwinds, MeDirect Group continued to increase its business activi- ty and recorded rapid growth in its client base in the jurisdictions in which it oper- ates whilst achieving high levels of custom- er satisfaction. Our Group will continue to develop and deploy new products and improved user experience by leveraging its advanced tech platform." FOR the past 11 years a pub- lic-private philanthropic initi- ative, the Alter Aqua project, funded by The Coca-Cola Foun- dation, is helping Malta redis- cover its rich water conservation culture. Alter Aqua helped identify such structures and rehabilitate them for use, as a means to collect wa- ter and increase climate change resilience for Malta's population. Reviving the past, preparing for the future A treasure lies below the main square of Vittoriosa. A cistern, built in the 17th century, which can hold up to 800,000 litres of water harvested from rain. It is one of many such underground constructions, in various shapes and sizes, spread across all the historical areas of Malta, like Valletta and Birgu. They are connected to public spaces and private buildings, a testament to the challenges that Malta al- ways faced due to lack of fresh- water resources. When faced by its numerous enemies in a time of siege, the availability of water could mean the difference be- tween survival or extinction for the defenders of the city. However today, many of these cisterns, form part of Malta's cultural heritage and valuable as potential stores of large quanti- ties of rainwater, lie disused and in need of repair. Even pinpoint- ing their exact location often requires almost detective work, asking locals who might remem- ber from their childhood days the entry point underground, which may have been covered over by subsequent construction. In 2021, Alter Aqua teamed up with the Municipality of Birgu to undertake the restoration of the reservoir under Victory Square. The need for water conservation has shaped Malta's history and produced wonderful architectural treasures, which remain hidden from view. Thanks to the Alter Aqua project the main reservoir under Victory Square was re- stored, and the cistern in the his- toric building of the Auberge de France, seat of Birgu's Municipal Council is also in the final process of being fully restored. The water gained through these projects will be used to irrigate green spaces; and putting out a strong message of valuing our heritage and valu- ing water, which has always been part of Malta's identity. The Alter Aqua project aims to increase water security and en- hance Malta's resilience in the face of climate change, through a combination of restoring tradi- tional rainwater harvesting water structures, and implementing innovative technologies, such as greywater recycling. Alter Aq- ua is designed and implement- ed by Global Water Partnership – Mediterranean, in partner- ship with the Energy and Water Agency, GSD Marketing Ltd. and funded by The Coca-Cola Foun- dation. Over a span of 11 years, it has undertaken 23 interventions, saving more than 19 million litres of water annually, with an invest- ment from the Coca-Cola Foun- dation of $1,300,000. MeDirect Bank continues to invest in technology and deliver growth Alter Aqua: The rehabilitation of Birgu Square Reservoir