Posts by abraham.abela

Opening of the MDIA’s new offices

July 23, 2020 Posted by News & Events 0 thoughts on “Opening of the MDIA’s new offices”

The Malta Digital Innovation Authority inaugurated its new offices in Mriehel on Tuesday 21 July 2020. Spread across two levels, the new state-of-the-art building is finished to the highest levels and standards.

As the authority covers a sector that is continuously evolving, it was fitting and timely for the authority to relocate its operations to a building that sufficiently caters for its roles and responsibilities. Attention was given to every little detail, including the use of the latest technology.

On Tuesday afternoon, MDIA’s Chairman Dr Joshua Ellul and Chief Executive Officer Stephen McCarthy hosted the Minister for Finance and Financial Services Edward Scicluna and Parliamentary Secretary for Financial Services and Digital Economy Clayton Bartolo, for the official opening ceremony. They were given a tour around both levels together with an explanation of how MDIA staff will operate in the digital innovation sector.

Mr McCarthy said that back in 2018, the MDIA itself used to contact entities proposing the possibility of using new technologies. In 2020, it is now the other way round, as entities are increasingly reaching out to MDIA to be assisted on the use of Distributed Ledger Technologies, Artificial Intelligence and more. Whilst discussions with legislators are ongoing, he noted that the Authority’s remit will broaden much further in the coming years, as technology automation increases. Hence the new premises were a must to accomplish MDIA’s vision and welcome a new era for the authority.

Dr Ellul spoke about the technology assurance framework which the Authority developed. In doing so, the MDIA vetted, scrutinised and approved Systems Auditors, who are expected to uphold the same levels of standards and assurances in the innovative technology arrangements that they will be auditing. He remarked that innovation should not be stifled but supported, and therefore the framework is a voluntary one for non-critical systems, yet for critical systems may be a requirement mandated by another lead authority.

The Minister for Finance and Financial Services Edward Scicluna said that the Government was always at the forefront to embrace the digital economy. He remarked that there needs to be a common and coordinated front so that the digital technology is promoted in a holistic way, especially in terms of financial competitivity. The Parliamentary Secretary for Financial Services and Digital Economy Clayton Bartolo mentioned how the MDIA is a crucial entity to keep the digital economy sector moving forward. He noted that in the previous months a lot of work was done so that the Authority continues to improve the digital sector and said that the successes in this sector are yet to come.

The Parliamentary Secretary for Financial Services and Digital Economy Clayton Bartolo mentioned how the MDIA is a crucial entity to keep the digital economy sector moving forward. He noted that in the previous months a lot of work was done so that the Authority continues to improve the digital sector and said that the successes in this sector are yet to come.

MDIA certifies its fifth Systems Auditor

October 22, 2019 Posted by News & Events 0 thoughts on “MDIA certifies its fifth Systems Auditor”

The Malta Digital Innovation Authority (MDIA) is pleased to announce that it has officially certified Fact Technologies Ltd as its fifth Systems Auditor (SA). The Systems Auditor’s role is to audit the Innovative Technology Arrangement (ITA) that an applicant will be proposing.

The accreditation of SAs serves as a seal of approval which certifies that the service provider(s) possesses the necessary technical skills, aptitude, capability and experience to handle systems audits related to Innovative Technology Arrangements (ITAs).

The audit conducted by the SA must follow the ISAE 3000 standard, which is the standard for assurance over non-financial information, and consists of guidelines for ethical behaviour, quality management and performance. In line with the ITAS Act, the System Auditor shall nominate Subject Matter Experts to assist in specific technical fields during the System Audit. MDIA expects the Systems Auditor to have a complement of at least two Subject Matter Experts and must be recognised by the Authority as part of the Systems Auditor registration process.

This further complements MDIA’s work in terms of ITAs certification, since a solid base of Systems Auditors was established, giving prospective applicants the choice of five certified Systems Auditors. The certification of Fact Technologies Ltd follows that of PricewaterhouseCoopers, KPMG, BDO Technology Advisory Limited and STIS Group Ltd.

For the benefit of independent verification on each Systems Auditor’s certificate, any user can verify authenticity by matching the designated file signature (SHA512) which is also available on MDIA’s website for each awarded certificate. Furthermore, each certificate is timestamped on the public bitcoin blockchain for proof of authenticity and proof of existence in time. An OTS file is also provided for independent certificate verification using the OpenTimeStamp Protocol.

The CEO of the Malta Digital Innovation Authority Mr Stephen McCarthy commented that:

“The MDIA remains committed to protect and support all users and encourage all types of innovations, while providing assurance and ensuring trust. The rigorous certification process is one which is cryptographically verifiable and complements further the MDIA’s work in terms of promoting transparency and auditability. We are pleased that Fact Technologies Ltd has been certified as an MDIA Systems Auditor, thus supporting our efforts to ensure standards are met and consumers are protected whilst safeguarding Malta’s reputation in the use of ITAs.”