Author: Mel Chamber

Bank of Valletta (BOV) has entered a strategic collaboration with Oracle Financial Services to modernise its technology landscape and fast-track its journey toward an AI-first operating model. This multi-year collaboration, formalised through a non-binding Memorandum of Understanding, sets the stage for a sweeping transformation focused on cloud-native architecture, AI-powered capabilities, and regulatory compliance by design. The agreement was signed by BOV’s CEO Kenneth Farrugia and Sovan Shatpathy, senior vice president, Product Management and Development, Oracle Financial Services. Present also for the signing in Malta were Bjorn Ekstedt, BOV’s Chief Information Officer and Gerrard Mahony, sales director, Oracle Financial Services.

“At Bank of Valletta, our commitment is clear. We are modernizing responsibly and preserving the reliability that our customers expect while evolving into an AI-first financial services provider,” said Kenneth Farrugia. “Partnering with Oracle means that we are building a more resilient, innovative, and customer-centric institution for the future, with the aim of providing our customers the best service possible.”

The collaboration is anchored on four pillars: governance and engagement, compliance and risk management, innovation and skills development, and performance excellence. These will guide every step of the transformation, enabling oversight and capability building throughout. By mid-2026, BOV plans to deploy Oracle AI Agents across its retail and corporate banking, payments, and insurance. These agents will streamline processes like loan origination, credit decisions, and customer engagement, delivering faster, smarter, and more personalised financial services.

“BOV’s commitment to modernizing responsibly while preserving customer trust is at the heart and foundation of this transformation,” said Sovan Shatpathy. “Oracle is enabling BOV’s AI-first journey by embedding AI, cloud-native architecture, and compliance by design into the core of its operating model. Together, we are helping BOV move faster with confidence scaling intelligent automation, strengthening governance, and delivering more personalized banking experiences without compromising resilience or regulatory rigor.”

This strategic alliance marks a pivotal moment in Bank of Valletta’s transformation journey, reinforcing its commitment to innovation, trust, and sustainable value for customers, shareholders, and the wider economy.

PwC’s 2026 Global CEO Survey reveals that only 30% of CEOs worldwide are confident about revenue growth in the next 12 months, the lowest in five years. The decline is linked to challenges in realising financial returns from AI investments and rising cyber and geopolitical risks. In contrast, Malta’s most recent CEO Confidence Tracker shows resilience, with 69% of local CEOs reporting stronger results in 2025 and 92% expecting stable or improved economic conditions in the coming months.

“Malta’s CEOs are navigating global uncertainty from a position of relative resilience. The contrast with the global confidence dip underscores the importance for Malta‑based companies to stay the course on transformation, especially AI foundations and cyber preparedness, while continuing to invest for growth,” said Lucienne Pace Ross, Territory Senior Partner, PwC Malta.

AI emerges as a defining divide globally, with the CEOs’ biggest question being whether they are transforming fast enough to keep pace with technological change, including AI. 42% cite this as their top concern, ahead of worries about innovation capability or medium‑to‑long‑term viability (both 29%).

The survey highlights a growing gap between companies piloting AI and those deploying it at scale. CEOs reporting both cost and revenue gains are two to three times more likely to have embedded AI extensively across products and services, demand generation, and strategic decision‑making.

Global concern about cyber risk has risen sharply, with 31% of CEOs now citing it as a major threat; up from 24% last year and 21% two years ago. In response, 84% say they plan to strengthen enterprise‑wide cybersecurity as part of their response to geopolitical risk. Exposure to tariffs is also weighing on confidence: one in five CEOs globally (20%) report high or extreme risk of significant financial loss from tariffs over the next 12 months.

However, despite this challenging backdrop, CEOs are pursuing reinvention. Globally, more than four in ten (42%) say their company has begun competing in new sectors in the past five years. Of those planning major acquisitions, 44% expect to invest outside their current industry, most often in technology. A little over half (51%) plan international investments in the year ahead, with the United States remaining the top destination (35% ranking it among their top three), followed by the UK and Germany (both 13%), the Chinese Mainland (10%), and rising interest in India (13%).

“2026 is shaping up as a decisive year for AI. A small group of companies are already turning AI into measurable financial returns, while many others are still struggling to move beyond pilots. That gap is starting to show up in confidence and competitiveness, and it will widen quickly for those that don’t act,” said Mohamed Kande, PwC Global Chairman.

“In periods of rapid change, the instinct to slow down is understandable—but it’s also risky. The value at stake across the global economy is increasing, and the window to capture it is narrowing. The companies that succeed will be those willing to make bold decisions and invest with conviction in the capabilities that matter most,” he concluded.

The PwC 2026 Global CEO Survey is available here.

Thanks to the generous support of HSBC Malta Foundation and Hudson Foundation, Inspire Foundation’s Learning in Context (LinC) will be installing a new extension to its Day School playground in 2026 at its Bulebel education building.

Launched in March 2019 with just 15 learners, the LinC programme today supports 45 children from Year 1 to Year 7 with exceptionally high support needs. Most of these children have been diagnosed with learning disabilities and communication difficulties. Unable to be catered for in mainstream school settings, they follow an adapted curriculum at LinC, delivered through a differentiated approach focused on functionality.

This playground which was financed by HSBC Malta Foundation and Hudson Group Foundation and installed early in 2025 has already had a transformative impact, with children showing significant improvements in regulation, calmness, and readiness to learn after their play sessions. Following the success achieved, Inspire is seeking to extend the resources available in this playground to provide additional sensory regulatory play equipment such as trampolines, a roundabout, swing seats and other sensory equipment – essential tools for stimulating the sense of balance and the position, movement of the body, thus reducing anxiety, and enhancing communication, learning, and behaviour.

When approached, HSBC Malta Foundation and Hudson Group Foundation immediately and enthusiastically agreed to support this extension to the playground to provide these young children with these additional resources that will be so beneficial to their needs.

Phase 2 of the playground project was officially launched by Alfie Borg from the Hudson Foundation at the HEART exhibition display at Mercury Shopping District, St Julian’s at the end of last year. 

“At HSBC Malta Foundation, we believe that every child deserves the opportunity to thrive in an environment that supports their unique needs. By investing in the extension of the LinC playground, we are helping to create a space where children can regulate, learn, and grow with confidence,” said Geoffrey Fichte Chairperson for the HSBC Malta Foundation.

In conclusion Alfie Borg, Founder and Chairman for the Hudson Foundation commented, “Hudson Foundation is proud to continue supporting Inspire Foundation in its mission to provide inclusive and therapeutic learning environments. This playground extension is more than just equipment – it is an investment in the well-being, happiness, and future of these children”.

“This extension represents a crucial step forward in ensuring that our learners have access to facilities that meet their unique needs,” said Antonello Gauci, Chief Executive Officer, Inspire Foundation. “We are deeply grateful to HSBC Malta Foundation and Hudson Foundation for their continued support, which allows us to provide not only education but also the therapeutic and sensory tools that make learning possible.”

HSBC Malta Foundation has long been committed to supporting projects that cultivate inclusion, education, and community wellbeing. By financing initiatives such as the LinC playground, the Foundation continues to champion opportunities for children with diverse needs, ensuring they have access to environments that nurture their growth, independence, and quality of life.

Bank of Valletta (BOV) and the Institute of Financial Services Practitioners (IFSP) have signed a strategic agreement to further strengthen Malta’s financial services sector. This collaboration, formally endorsed by BOV CEO Kenneth Farrugia and IFSP President Nick Captur, will focus on knowledge sharing, professional development, and joint initiatives designed to advance the industry.

Through this partnership, BOV and IFSP will work closely to support and promote the interests of financial services professionals and organisations. The agreement aims to enhance skills and competencies across the sector, ensuring practitioners are well-equipped to meet evolving regulatory and market demands.

“Driving excellence and innovation within Malta’s financial services ecosystem has always been Bank of Valletta’s commitment,” said Kenneth Farrugia, BOV CEO. “As a leading financial institution, we recognise the importance of empowering professionals with the expertise needed to navigate an increasingly complex environment. By joining forces with IFSP, we are creating impactful opportunities for learning, growth, and thought leadership that will strengthen the sector and contribute to Malta’s economic progress.”

Nick Captur, President of IFSP, commented, “This partnership underscores the vital role of collaboration among key industry stakeholders in shaping the future of Malta’s financial services sector. By pooling our expertise and resources, we will deliver initiatives that not only enhance the sector’s resilience and competitiveness but also empower professionals to meet the challenges of a dynamic regulatory and global market landscape. The launch of the IFSP Directors Chapter, in collaboration with BOV, marks an important milestone in promoting good governance and training for directors.”

This strategic agreement represents a significant step forward in reinforcing Malta’s position as a leading financial services jurisdiction. By combining resources and expertise, Bank of Valletta and IFSP are committed to building a sustainable framework for professional excellence, regulatory compliance, and industry innovation with the aim to contribute to the long-term growth and competitiveness of the Maltese economy.

Bank of Valletta and The Malta Police Force have signed a Memorandum of Understanding, joining forces to raise awareness on financial crime and enhance protection for customers and society at large.

The MoU was signed by Kenneth Farrugia, CEO of Bank of Valletta and Police Commissioner Angelo Gafà in the presence of Ryan Caruana, Chief AFC Officer at Bank of Valletta and Assistant Commissioner Fabian Fleri who heads the Malta Police Financial Crime Investigations Department. The primary objective of this three-year agreement is to enhance the national resilience against financial crime through joint initiatives, promote public education and awareness to reduce victimisation, facilitate and secure the timely exchange of intelligence, strengthen investigative capabilities through shared expertise and training, and improve customer protection mechanisms through collaborative innovation.

Speaking during the signing event, which took place at the Financial Crime Investigations Department, Bank of Valletta CEO Kenneth Farrugia explained that this agreement rubber stamps the ongoing collaboration between BOV and the Malta Police Force over the years. “Financial Crime includes a wide spectrum of offences ranging from financing of terrorism, bribery, corruption, scams and fraud. We have been working closely with the Police to protect our customers and society at large from these serious offences by sharing information and working closely on ongoing investigations. With this partnership, we are going a step further by organising joint initiatives such as awareness campaigns and exploring ways to protect our society from the ever-changing tactics and trends of fraudsters and scammers.”

On his part, Police Commissioner Angelo Gafà highlighted the changing nature of criminality and the importance of strong partnerships in addressing emerging risks. “Criminality is evolving rapidly, with financial crime increasingly operating in the digital space, where prevention and detection are significantly more complex. This shift demands that policing adapts beyond traditional approaches and works in close partnership with responsible private-sector stakeholders. This collaboration with Bank of Valletta reflects our commitment to improve our ability to detect, prevent and respond to emerging challenges proactively and effectively as outlined in our Corporate Strategy Safer Communities, Smarter Policing, placing prevention, intelligence, and shared responsibility at the heart of modern policing.”

The Memorandum of Understanding signifies a strategic alliance between BOV and the Malta Police Force, grounded in mutual trust and shared responsibility. Through this partnership, both parties are reaffirming their commitment to protecting the financial well-being of Maltese citizens and institutions alike.

This Christmas, the HSBC Malta Foundation once again brought the spirit of giving to life, supporting over 30 NGOs across Malta through one of its most impactful festive initiatives to date.

The Foundation coordinated a nationwide effort that transformed its executive boardroom into a central hub for generosity and collaboration, supported by HSBC Malta employees and four local schools who helped collect essential goods and gifts for those in need. Their combined contribution enabled the initiative to reach communities facing a wide range of social challenges during the festive season.

The support provided ranged from food, personal care items, educational materials, and children’s gifts. For the first time, monetary donations were extended to animal welfare organisations, recognising their vital role within Maltese society and the broader community.

Commenting on the initiative, Geoffrey Fichte, the CEO of HSBC Malta, on behalf of the HSBC Malta Foundation, said: “This Christmas initiative reflects our commitment to supporting communities across Malta. The collective effort of our employees, partner schools, and beneficiary organisations has allowed us to make a meaningful difference during a time when support matters most.”

Dorita Maniscalco, Head of St. Nicholas College, said: “Rabat Primary School contributed a generous donation of food items as part of the Reverse Advent Calendar initiative, supporting children in need during this festive season. This effort forms part of an HSBC campaign aimed at helping people in need, reflecting our commitment to community care and solidarity.”

Represenatvies from the participating schools also highlighted the importance of community involvement in initiatives such as this, noting the positive impact of engaging students in acts of generosity and social responsibility.

HSBC Malta employees further embodied the festive spirit by actively contributing time, resources, and creativity to support the Foundation’s efforts, reinforcing the importance of compassion and collective action.

The HSBC Malta Foundation’s Christmas initiative continues to grow as a meaningful annual tradition, demonstrating the lasting impact of collaboration and kindness, whilst spreading hope, warmth, and positivity across Malta during the holiday season.Bottom of Form

The four local schools which helped collect essential goods and gifts for those in need: St Dorothy’s Junior School; Primary School Rabat, St Nicholas College; St Francis Secondary School and St Joan Antide Primary School.

The NGOs which benefitted: AAA Malta Association; ALS Malta; Angela House; Building Bridges; Caritas Malta; Dar Hosea; Dar il-Kaptan; Dar tal-Providenza; Djakonija Zurrieq; Franciscan Welfare Association – Qawra; Inspire; Gzira Parish Church; LOOP; MSPCA; RISe; RMJ’s Horse Rescue; S.T.A.N.D.; Smiling with Jerome; SOAR; St Jean Antide Foundation; Suriet il-Bniedem; The Food Bank Life Line Foundation; The Foundation for the Ukrainian Community in Malta; The Island Sanctuary; The Life Network Foundation; The MCAST Outreach Services and Student Affairs; The Migrants Commission; The National Foster Care Association; The Optomist Club of Malta; The Soup Kitchen in Valletta; The Valletta Community Service, and YMCA.

Bank of Valletta achieved high commendations at the European Contact Centre & Customer Service Awards (ECCCSA), one of Europe’s most prestigious customer experience awards programmes. The Bank received commendations in two key categories: Best Customer Centric Culture and Best Customer Experience Redesign.

The recognition reflects the Bank’s sustained focus on embedding customer-centricity across the organisation, and on redesigning experiences that are simple, transparent, and aligned with the evolving expectations of customers.

In recent years, the Bank has been implementing a comprehensive, organisation-wide programme aimed at improving customer service. This programme is based on shared customer goals and includes initiatives that provide direct exposure to frontline service environments and create structured opportunities for employees at all levels to engage with customers. These efforts have been supported by service excellence training, alongside strengthened systems and processes to ensure that customer insights are translated into meaningful improvements.

The commendation for Best Customer Experience Redesign recognises the Bank’s innovative approach to engaging younger audiences through TikTok. Rather than using the platform as a traditional marketing channel, Bank of Valletta repositioned it as a customer touchpoint, co-creating content with GenZ audiences to deliver financial knowledge in a clear, accessible, and culturally relevant manner. The commendation recognised how two-way dialogue can be achieved while maintaining strong governance, compliance, and brand integrity.

Commenting on the achievement, Theodoros Papadopoulos, Chief Customer Experience Officer at Bank of Valletta, said, “This recognition reflects the deliberate work of our teams and the trust our customers place in us. It confirms that when we design with empathy and view every decision through a customer lens, we create sustainable value both for the organisation and for the people we serve.”

Now in their 25th year, the European Contact Centre & Customer Service Awards are the largest and longest-running customer experience awards in Europe. They celebrate organisations that demonstrate excellence in customer service through innovation, leadership and measurable impact.