BoV awarded for worlds best
Bank of Valletta has been awarded the 2003 Financial Innovation
Award for the worlds Best Customer Relationship Management Strategy
by the UKs Institute of Financial Services.
In winning the prestigious accolade, Bank of Valletta beat out a number
of world-leading competitors such as Primeline, Barclays Private Clients,
Fortis Bank Asia and Allianz Cornhill of Germany.
The award was presented to Bank of Valletta Chairman Joseph FX Zahra
during the Sixth Annual Financial Innovation Awards ceremony held at
the end of November at City Guildhall in London. The BOV delegation,
led by the Chairman, included officials from the Banks Strategy,
Management and IT Departments.
Speaking at the award presentation, Mr Zahra commented how the award
was an extremely important achievement for Bank of Valletta: "This
prestigious award is an endorsement of the Banks heavy investment
in its IT systems aimed at delivering a professional service to our
customers. Our CRM strategy that won the award is based on a highly
advanced IT system developed entirely by BOV employees.
"Winning such an award on a global platform only goes to confirm
the aptitude, creativity, motivation and professionalism of Bank of
Vallettas people. Moreover, this award underlines the Banks
commitment to employ cutting edge technology in support of its strategic
BOVs CRM strategy is directed at providing a cost-effective value
proposition. A three-phased approach was adopted through the in-house
development of a data warehouse, a customer profitability module and
a CRM front-office system. Through the implementation of a Datawarehouse
project, strategic analysts are able to model and analyse functions
pertaining to activity-based costings, customer contribution, data mining