Sparkasse Bank Malta: Banking Innovation and Digital Transformation
Sparkasse Bank Malta is an investment bank to provide the best banking services for their customers. They offer products and services in retail, commercial, private equity, asset management and more. They also work to provide innovative solutions that meet the needs of all their clients globally. Their latest innovation was “SparQ”, a mobile-first digital banking solution that offers all financial transactions on one platform. This article will summarize Sparkasse Bank Malta’s journey so far while highlighting some of its most recent innovations in detail.
The Sparkasse Bank Malta was established in 1994 during the process of privatization. It is jointly owned by 5 European banks; Sparkasse Berlin, WGZ-Bank (Westdeutsche Genossenschafts-Zentralbank), SpardaBanken Hamburg, Banca Popolare di Milano and Banque Cantonal du Valais Geneva. The objective was to develop a financial services provider with an international outlook to expand internationally for all these shareholders effectively.
Sparkasse Bank Malta offers their services through various channels, including subsidiaries in the region, branches in Malta and representative offices spread across the globe. Sparkasse Bank Malta is headquartered in Malta with subsidiaries in Germany, Austria, the United Kingdom, Switzerland, Russia and China.
Over time, Sparkasse has gained an international reputation for innovation. This comes from their global outlook on banking services that allows them to identify best practices adopted into products. One of the most innovative solutions offered by Sparkasse Bank Malta is called “SparQ“. It is a digital financial solution to make payments simple for customers using any device or platform to access banking transactions anytime, anywhere. The main features include personal finance management tools such as data analysis capabilities and self-service check-in features which simplify users’ day-to-day transactions while also providing customer support. Another feature is the “SparQ” App, which enables users to make payments, send and receive money, and view balances and statements across multiple bank accounts.
Sparkasse Bank Malta aims at making banking for customers more convenient by going beyond their location or even time zone. Through this solution, clients can conduct banking transactions anywhere and at any time to save them from visiting a branch or waiting on hold for long hours.
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