News | Wednesday, 19 August 2009

BOV nominated among finalists for Financial Innovation Awards

For the fourth consecutive year, Bank of Valletta has been nominated for the final night of the prestigious Financial Innovation Awards. Competing with leading financial institutions from all over the globe, the Bank is proud that four projects were nominated for the final award.
The first nomination is in the area of “Excellence in Governance, Risk and Compliance” featuring the restructuring of the Bank’s Risk Management function. The objective is that of minimising the cost of risk and to maximise return on assets and liabilities within the risk parameters.
The second nomination is for the “Most Effective Operations Management Initiative”, reflecting the manner in which the Bank’s Process Management Framework project has significantly impacted the bank’s customer experience. Working in alignment with the Bank’s Brand Promise, the optimization of internal operational efficiencies actively addresses audit considerations, enterprise and operational risk.
An entry under the category of “The Most Effective Partnership Strategy” earned BOV a third nomination highlighting the success achieved by the Bank 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 under the “The Most Effective Cultural Transformation” category. The Bank’s recent launch of its Training Academy seeks to re-orientate its training function from a provider of stand-alone training courses to a Training 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 with finalists chosen following a rigorous selection process. The handful of financial institutions that make it to the finals have the prestige of being distinguished and recognised amongst the best within the industry.
“With four nominations making the “Finalist Shortlist” for the Financial Innovation Awards, Bank of Valletta is being recognised as the leading innovator in the local financial services industry. This clearly reflects our forward-looking disposition and the attitude that drives and sustains our excellent value proposition to our customers. We are proud of the recognition, one that strongly affirms our commitment towards “Supporting Maltese Business,” stated Mr Tonio Depasquale, Chief Executive Officer at Bank of Valletta.


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19 August 2009


Malta Today


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