CC Finance Group plc have announced the release of Moneybase, what it describes as Malta’s first neobank, completely redefining existing services.

The announcement was made by CC Finance Group’s Co-Chief Executive Officer Alan Cuschieri through social media on Sunday, claiming that Moneybase is “on a mission to make people’s financial lives easier and to redefine the way you manage and grow your money.”

This is a move that will allow users to access transactional banking, instant payments, physical and virtual cards, along with “over 20,000 investments” all within the same platform.

A neobank is a financial institution that operates exclusively online, unlike traditional banks that have physical branches.

Additionally, Mr Cuschieri stated that all of the platform’s customers will save when spending across the globe due to great foreign exchange rates.

The group’s award-winning investment platform, CCTrader, has evolved into Moneybase Invest, becoming part of the Moneybase ecosystem while still maintaining “its legacy of being a vast investing platform offering a great service.”

“I invite everyone to be part of this exciting journey and to join our community and to have your say in shaping the next-generation financial platform,” Mr Cuschieri added.

Through the statement, he also thanked the team that helped produce the platform, along with fellow CC Finance Group Co-CEO Nick Calamatta for supporting the project.

One of the pioneers of the financial services industry, Calamatta Cuschieri Investment Services Ltd started in 1972 and has since grown to become one of Malta’s leading financial services firms.

Mr Cuschieri has been Co-CEO of the group since 2005, and has led multiple ventures, including IT company Finance Stack.

For more information on Moneybase, check out the official website by clicking here.