Maltese consumers will now be able to open an app-based current account in three minutes, send free domestic and international money transfers and spend abroad with no fees as fintech giant Revolut announces the launch of its service in Malta at DELTA Summit which is taking place between the 3rd and 5th of October.

Revolut, one of the fastest growing fintech companies in the world, is promising to end the party for big Maltese banks and pledging to tear down borders and eliminate hidden banking fees as it targets 60,000 Maltese customers by the end of the year.

Europe's hottest fintech has already signed up over 25,000 Maltese customers, around 6% of the population, and is confident that it can reach 60,000 Maltese customers by the end of the year. Since launching in July 2015, the innovative fintech has attracted more than 2,500,000 users across Europe and processed over $22B in transactions.

Nikolay Storonsky, Founder & CEO of Revolut said: "The big banks in Malta have been taking advantage of their customers for years with endless banking fees and crappy technology. Revolut is here to end the party for the bankers and provide the Maltese people with an innovative, technology-first banking alternative.

"In addition to shaking up traditional financial services, we've put technology at the heart of our service with instant spending notifications, spending categorisation, budgeting tools and enhanced security measures such as the ability to freeze your card and enable location-based security."

Revolut allows customers to set up an app-based current account in 60 seconds, spend abroad in over 150 currencies with no fees, hold and exchange 25 currencies in-app and send free domestic and international money transfers with the real exchange rate.

The high growth fintech is confident that it can become a financial hub for managing your entire financial life, recently announcing plans to launch a commission-free trading platform that will allow customers to invest their spare change into company stocks and bonds.

Revolut's local Country Manager, Dimitris Litsikakis, will be responsible for managing and growing the entire market in Malta and creating a banking revolution across the Mediterranean. He will be giving a keynote speech at the DELTA Summit in Malta, Malta's Official Blockchain and Digital Innovation Summit, taking place between the 3rd and 5th of October at InterContinental Hotel, St. Julian's. This is the first time a Revolut representative will be publicly speaking at a conference in Malta.

Since July 2015, London-based Revolut has signed up over 2.5 million customers across Europe and processed more than 150 million transactions with a total volume transaction of over $22 billion to date. Revolut has raised a total of $336m from some of the most notable investors including Index Ventures, Balderton Capital, Ribbit Capital and DST Global.