19 June, 2025
Bank of Valletta participated in the European Digital Finance Conference 2025, where Ivo Camilleri, Chief Strategy, Transformation and Data Officer, shared insights on fostering innovation within the financial services sector. The event, organised by The Banking 50, brought together financial leaders, regulators, and technology experts to discuss the evolving landscape of digital finance with over 60% of attendees representing the banking industry.
Ivo Camilleri’s presentation, Igniting Creativity for Organisational Value explored the Bank’s efforts to encourage a culture of innovation. He outlined the BOV Innovation Challenge, an initiative that was piloted within his function and is now set to be introduced more broadly across the Bank. The challenge provided employees with an opportunity to experiment with emerging technologies, including AI, and develop real-world solutions that contribute towards the Bank’s strategic goals.
“The financial sector is undergoing a period of rapid transformation, driven by new technologies and changing customer expectations,” said Ivo Camilleri. “At Bank of Valletta, we are taking steps to create an environment where our employees feel encouraged to contribute innovative ideas that can improve our services and operations. Our innovation challenge has been a valuable way to explore new approaches, foster collaboration, and generation practical solutions.”
The BOV Innovation Challenge invited employees to submit and develop proof-of-concept solutions, with flexibility in team size, technology, and subject matter, as long as proposals adhered to Bank policies and offered organisational value. The initiative attracted 25 submissions, with 10 proof-of-concepts selected for further development based on their potential impact. Many employees dedicated personal time to exploring innovative solutions, demonstrating a strong commitment to continuous improvement.
During his session, Mr Camilleri shared key lessons from the initiative, including strategies for fostering a long-term culture of innovation and ensuring that successful innovations can be scaled and integrated within the Bank’s products, services and operations. His presentation was part of a broader discussion on Open Banking and Open Finance in Europe, which examined the intersection of regulation and innovation and the opportunity they present for the financial sector.
Through initiatives like the Innovation Challenge, Bank of Valletta reaffirms its position as a thought leader in the industry by actively engaging its workforce and fostering a vibrant innovation culture. The Bank’s commitment to nurturing creative talent and empowering employees is setting a benchmark for driving transformative ideas and shaping the future of financial services.
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