Nicolas Treppides and Marios Cosma: The presence of EMIs reassures investors that Cyprus is open to technological progress
Moneygate's founders on the gap they set out to close, why the model is deliberately hybrid, and what success looks like five years out.
In an interview with GOLD magazine, Moneygate's two founders, Nicolas Treppides and Marios Cosma, discuss the company's origins, how the EMI sector has evolved and what it takes to stand out in an increasingly competitive market.
Why 2021 was the right moment
The idea behind Moneygate developed over time through direct exposure to how businesses actually operate. Coming from the corporate services world, with experience in both tech and fintech, it became increasingly clear that companies were evolving faster than the financial infrastructure supporting them. At the same time, the European regulatory framework had reached a point where Electronic Money Institutions could operate within a clear and robust structure.
The gap in the market
There was a gap between the increasing operational restrictions imposed on traditional banks and evolving client needs. Banks continue to play a fundamental role in the financial system; institutions like Moneygate are designed to complement that ecosystem by focusing on transactional banking and the tools specific to that service.
Why Cyprus
Cyprus offers strong foundations: EU regulatory alignment, a well-developed professional services sector, international connectivity and recognition. Foreign tech industry investors are increasingly familiar with EMIs, and their presence in the Cyprus business environment reassures them that the country is open to technological progress rather than remaining stagnant with outdated banking systems.
A deliberately hybrid model
Moneygate is positioned between a traditional bank and a fully automated digital service. Efficiency and speed matter during onboarding and transactions, but human involvement at the client-facing level remains key. People trust people, and human involvement inspires personal attention and care.
Which technologies will matter
AI will speed up transactional analysis, enabling systems to detect risks and deploy mitigation strategies, and will have a meaningful impact on compliance monitoring and operational efficiency. Embedded finance will continue to expand, though its long-term impact depends on practical implementation rather than concept. Digital identity is important but will evolve gradually, given the coordination required across jurisdictions.
The structural shift behind EMI growth
The key shift is increasing specialisation within financial services and the development of reliable, scalable infrastructure. Rather than providing all services, specialised providers focus on executing specific functions exceptionally well. EMIs are not a replacement for banks but a natural progression of the financial ecosystem.
What success looks like
Success means fostering growth with strong compliance and governance, maintaining integrity and building trust. With the proof of concept in place, the aim is to become one of Europe's success stories in the sector, with clear product differentiation, strategic partnerships and embedded technological offerings to other financial institutions.
Originally published in CBN, Cyprus Business News. Read the original article →