Information technology systems have been successfully upgraded by Bank of Valletta, through the replacement of its core banking IT system.
The Bank said that it resumed its banking operations across its channels by the 1st January, ahead of the planned schedule.
“With the implementation of the Core Banking Transformation Programme, Bank of Valletta has achieved a critical milestone of the Group’s strategy for 2020 and beyond. The new core banking system lays the foundation for a stronger Bank and paves the way for the implementation of a comprehensive digitalisation strategy,” stated Rick Hunkin, Chief Executive Officer at Bank of Valletta.
He added that, “our staff have been instrumental in this changeover and their commitment and dedication has been exemplary.”
Joseph Agius, BOV Chief Technology Officer stated, “Bank of Valletta underwent a major and complex operation. This was not a straight-forward upgrade of a minor system, but it involved the decommissioning of major banking systems, and replacing them within a new state-of-the-art core banking IT system.”
“We are truly proud of our staff who worked relentlessly and for very long hours over the holiday season to ensure that the implementation of the new system would be successfully carried out with the least disruption to our customers,” said Ernest Agius, BOV Chief Operations Officer.
He added that “over the past twelve months, our staff underwent intensive training and they are now becoming more conversant with the new system.”
Bank of Valletta thanked its customers, partners and stakeholders including the Central Bank of Malta, MFSA, other local banks, various government entities and constituted bodies for their full and constant support throughout this period.