‘It’s not easy to inspire established people to move’ – Mark Curmi, Trumia CEO

With a career spanning the breadth of financial services, from traditional banking to consultancy, Mark Curmi’s path to becoming CEO of Trumia reflects a convergence of experiences that uniquely position him to lead a cutting-edge fintech startup.

“I’ve spent my career in financial services, starting in banking before moving to KPMG, where I was involved in the industry from a different perspective – consultancy and advisory work,” begins Mark. Having worked on both sides – within the industry and as a consultant to the industry – at Trumia, he identified an opportunity to create something innovative and unique within the Maltese and European financial landscape.

“Moving to Trumia brings together a mix of different professional life experiences, giving me the opportunity to apply what I’ve learnt and what I’ve experienced directly. This transition marked not just a career move but a chance to build a financial institution from the ground up, focusing both on obtaining necessary licences and actively participating in the launch and growth phase,” the CEO maintains.

Mark’s leadership approach has been shaped by his varied background across major companies.  His international experience with organisations of different sizes has proven invaluable in understanding how to approach a startup project –  and, crucially, how to inspire the right team members to join.

“It’s not easy to inspire established people to move,” he notes. “We have a senior team which is well-known and experienced in their respective areas – they come from niche markets or specialised sectors within a number of industries.”

Unlike many CEOs who prefer to maintain distance from day-to-day operations, Mark believes in hands-on leadership. “I still like to roll up my sleeves and get stuck in,” he says. This approach was particularly crucial in Trumia’s early days. His experience in setting up teams from scratch taught him that building a new institution requires a different skill set than joining an established one.

Lifting the curtain to give us a glimpse of his typical day, Mark reveals that his days often begin early. He arrives at the office before the team to plan according to overnight developments and upcoming schedules. He also holds at least one daily meeting with each department head, ensuring continuous communication and support across the organisation.

Beyond internal management, the CEO remains heavily involved in business development and business growth initiatives, focusing on brand building and strategic growth. “I also spend quite a lot of time making sure we deliver on our plans – both running and building the financial institution, internally referred to as ‘Grow the Institution’ and ‘Run the Institution’,” he explains. It quickly becomes apparent that this dual focus on current operations and future development characterises Mark’s approach to leadership.

Reflecting on the founding vision for Trumia, Mark explains that it emerged from a deep understanding of the financial services industry’s rapid evolution. Rather than simply providing traditional payment services, Trumia focused on developing a technology stack that enables it to deliver consistent and enhanced value to both corporate and consumer clients.

“We looked at what the industry is currently offering and how technology can help us deliver that product better,” the CEO explains, highlighting that the company’s approach goes beyond providing electronic money accounts and payment services. “We are not just another financial institution offering basic accounts; we are designed to support our corporate clients in growing their businesses.”

This commitment to value creation extends to their consumer offerings. Operating from Malta, Trumia aims to provide greater choice in the consumer market while enabling better engagement between businesses and their customers. The goal, Mark affirms, is to create enhanced efficiencies in both experience and service through integrated products.

At the heart of Trumia’s operations lies a cloud-based infrastructure designed for scalability and flexibility. “We chose technology solutions that would allow us to scale quickly to support the business and ensure a composable ecosystem,” Mark explains. This approach allows Trumia to adapt rapidly to technological innovations while maintaining robust security and operational efficiency.

However, the CEO is keen to point out that the company’s focus on technology isn’t merely about keeping up with trends – it’s about understanding and responding to changing consumer and corporate consumption patterns. As Mark notes, while the underlying products in financial services remain largely unchanged, the way these services are consumed continues to evolve.

Since launching in early 2024, Trumia has achieved several significant milestones, including the successful introduction of both consumer and commercial financial services products. The expansion of their currency account offerings and the establishment of key banking partnerships have been important steps in their growth journey, the CEO continues.

Looking ahead, Trumia has ambitious plans to enhance its product proposition and introduce additional financial products to the market. Their growth strategy is underpinned by a commitment to operational resilience and technological innovation, ensuring they can scale while maintaining service quality and security.

Throughout Mark’s journey with Trumia so far, several key lessons have emerged. “A startup is a startup, but when you put together the right resources and the right people, it flourishes very quickly,” he reflects. He underscores the importance of understanding target customers’ needs and developing products around these requirements, affirming, “for me, the priority is having the right  team, the right technology, and a clear plan for how to run the business. Understanding what target customers require is also important – you first need to speak to clients or prospective clients, understand their challenges and develop your product around their needs.”

Perhaps most importantly however, the CEO stresses the value of staying true to core values, particularly in a regulated industry. “We take pride in what we do, and we’ve set evolving goals we want to achieve,” he says, explaining how this focus has guided the company through its rapid growth phase.

Looking ahead, as Trumia continues to expand its presence in Malta and beyond, the focus remains on delivering value through technology-driven financial services. With a strong foundation in place and a clear vision for the future, Mark and his team are well-positioned to shape the next generation of financial services in Malta and across Europe.   

This article is part of the serialisation of 50 interviews featured in Malta CEOs 2025 – the sister brand to MaltaCEOs.mt and an annual high-end publication bringing together some of the country’s most influential business leaders