The Bank of Valletta (BOV) said it 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.

The Bank explained that 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 modernising 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.”

It was also explained that 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 said it 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 modernising 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 personalised banking experiences without compromising resilience or regulatory rigor.”

Photo: Left to Right – Gerrard Mahony, Sovan Shatpathy, Kenneth Farrugia and Bjorn Ekstedt

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