BoV named among Financial Innovation Awards finalists
For the fourth consecutive year, Bank of Valletta has been named among the finalists for the Financial Innovation Awards with four of its projects nominated for the final award.
The bank received its first nomination in the Excellence in Governance, Risk and Compliance category for its restructuring of the risk management function. The objective was to minimise the cost of risk while maximising the return on assets and liabilities within the risk parameters.
The second nomination is for Most Effective Operations Management Initiative, reflecting the manner in which the bank's process management framework project has impacted the bank's customer experience.
Working in alignment with the bank's brand promise, the optimisation of internal operational efficiencies actively addresses audit considerations, enterprise and operational risk.
An entry under the category of Most Effective Partnership Strategy earned BoV a third nomination highlighting the success achieved with the launch of the BoV SME business banking approach.
This project is being undertaken as one of the initiatives related to the integration of the bank's SME business banking services with its corporate social responsibility and the brand promise programme of change for the area of business banking.
The fourth nomination was achieved with an entry in the The Most Effective Cultural Transformation category.
The bank's recent launch of its training academy seeks to reorientate its training function from a provider of stand-alone training courses to an academy offering holistic and integrative business-led learning.
The Financial Innovation Awards is one of the most well-established annual awards in the financial services industry. Entries are received from worldwide organisations. The handful of financial institutions that make it to the finals have the prestige of being distinguished and recognised among the best within the industry.