Issue link: https://maltatoday.uberflip.com/i/1500031
5 NEWS 18.5.2023 MALTAPOST plc announc- es that it has been author- ised by the Malta Financial Services Authority to act as Tied Insurance Interme- diary for and on behalf of IVALIFE Insurance Limit- ed, and for and on behalf of MAPFRE Middlesea plc, through PostaInsure Agency Limited. is authorization places MaltaPost in an excellent po- sition to service its custom- ers both for their personal as well as their commercial re- quirements in both the gen- eral and life insurance fields. MaltaPost is committed to see to the individual needs of each customer and offer per- sonalised solutions through a wide range of innovative and cost-effective insurance products, including but not limited to motor, home, boat, pet, travel, health and business, on behalf of MAP- FRE Middlesea plc, as well as life insurance which includes protection, savings and pen- sion plans, on behalf of IV- ALIFE Insurance Limited. Joseph Gafa', MaltaPost's Chief Executive Officer, said he believes that the provi- sion of a personalized ser- vice, coupled with top qual- ity insurance products, will be the key factors to guaran- tee success in this new line of business for the company. e main insurance sales office is co-located within the MaltaPost Head Office at Qormi Road, Marsa. Opening hours are be- tween 8am and 4pm Mon- day to Friday. Business enquiries may also be made via email on in- surance@maltapost.com MELITA Limited has just un- dergone a new phase in its dig- ital transformation by enhanc- ing its business support system to continue to improve and support the provision of the latest in telecommunications services is collaboration with Am- docs, a leading North Ameri- can software services provider helps Melita deliver efficient and secure customer interac- tion. From topping up a prepaid service, to provisioning a TV channel all the while keeping customer information secure. is high capacity solution connects with other existing Melita platforms and manages millions of interactions, includ- ing the latest IoT services. is improved platform will allow Melita's customer care and retail teams to accommo- date its customers' requests more efficiently and proactive- ly, ensuring an enhanced cus- tomer experience. Melita CEO Harald Roesch said: "At Melita we pride our- selves on our commitment to innovation and ensuring our customers benefit from the latest technologies. e trans- formation project with Am- docs has been a success and an important milestone for our business — we're excited to im- plement this latest generation solution that can help us im- prove our products and servic- es for customers." Roesch said the project, which keeps Melita at the forefront of technology, was complex and extensive, necessitating rigor- ous preparation ahead of this migration. "e efforts invested in im- plementing these technological advancements become truly rewarding when we witness the tangible benefits experienced by our customers," he said. These advancements not only enhance the quality of our services but also provide our customers with peace of mind, knowing that their data is safeguarded in compli- ance with rigorous regulatory requirements and industry standards. MaltaPost plc authorised as a Tied Insurance Intermediary for IVALIFE and MAPFRE Middlesea Melita's digital transformation opens up new generation of services Take on Metaverse opportunities but address risks, accountants urge THE metaverse, as well as technological developments in the field of blockchain and AI, create a vast array of opportu- nities, according to Malta's budding accountants, but they also establish new risk of abuse associated with mon- ey-laundering, tax evasion and financ- ing of terrorism. A forum hosted by the Malta Institute of Accountants' (MIA) Young Mem- bers Focus Group highlighted how metaverse, blockchain and NFTs are opening up new realities in the space of digital ownership, supply chain trans- parency, and investment opportunities while creating new revenue streams in diverse sectors of the economy. Opening the event, MIA President David Delicata highlighted the eco- nomic opportunities that such technol- ogy presents. Comparing the impact of this technological revolution to the rise of the Internet, Delicata recalled that just a few decades ago, the widespread availability of the Internet was met with concern, but through time, not only were these concerns addressed accord- ingly but the internet has transformed the way we do things, including busi- ness. Similarly, society has to learn how to regulate the developments associated with the subject matter to ensure that while the opportunities are fully uti- lised, abuse is identified and addressed. MIA CEO Maria Cauchi Delia ob- served how, while technology is acting as a major disruptor within the financial industry, it has also enabled the crea- tion of new opportunities for account- ancy professionals and will continue to do so. Despite the challenges that such developments bring about, at the same time this reality is another living proof of how dynamic the profession is. ree panels of knowledgeable speak- ers shared their views on the impact of recent advancements in these fields on matters relating to investment, the regulatory, legal and fiscal sphere and accounting and taxation, also with an eye on developments initiated at Euro- pean level. Across the panels, a recur- rent consideration focused on the fact that digital elements such as NFTs will require a rethinking of fundamentals related to their nature, given that their role could range from that of tradeable securities to possessions equivalent to intellectual property. Touching base on the main challenges when it comes to these aspects, includ- ing AML, the speakers highlighted the need for technology, law and finance professionals to consult and come to- gether when dealing with these areas, and the importance of communicating with the relevant authorities. Besides regulation, accountancy pro- fessionals highlighted the need for education across the board, from the general public, to the authorities and regulators, with the latter facing a continuous race for time against mon- ey-launderers, fraudsters and tax evad- ers who keep seeking to maximise the opportunities given to them by evolving technology. Dean Micallef, Chairperson of the MIA Young Members Focus Group, brought the event to a close by under- lining the fact that these new techno- logical developments required a change in mindset and highlighting that the re- sponsibility of industry professionals to take it on. "Remain interested because it is going to keep moving", he said. The forum highlighted how metaverse, blockchain and NFTs are opening up new realities in the space of digital ownership, supply chain transparency, and investment opportunities