The Malta Independent 13 June 2024, Thursday
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BOV selects Databricks to implement state-of-the-art intelligence platform

Tuesday, 4 June 2024, 13:30 Last update: about 9 days ago

Harnessing the benefits of data-driven decision-making

Bank of Valletta is excited to announce a strategic partnership with Databricks, the data and AI company and pioneer of the Data Intelligence Platform. This collaboration marks a significant milestone in the Bank's commitment to harnessing data science and advanced data analytics to enhance customer service and entrench robust decision-making at all levels across the organisation.

The Bank is in the process of implementing a cutting-edge data lake house, by leveraging Databricks' robust suite of technologies. This initiative will transform the Bank's governance and use of data, enabling more agile, informed, and effective business operations. This was announced by Ivo Camilleri, Chief Strategy, Transformation and Data Officer on announcing the collaboration with Databricks. "This partnership forms part of Bank of Valletta's drive towards the transformation of its operations, seeking to improve efficiency at all levels and ultimately enhancing the experience we offer to our loyal customers".

This integrated approach positions BOV at the forefront of data-driven decision-making, essential for today's dynamic economic environment. As Ivo Camilleri said, "We are thrilled to embark on this journey with Databricks. This strategic move is pivotal in our pursuit of superior data mastery which will empower us to deliver exceptional service and make more strategic, data-informed decisions that benefit our customers and stakeholders."

Utilising Delta Lake, the Bank will ensure robust data integrity and enable sophisticated historical data analysis, providing a secure foundation for data management. Furthermore, the Bank will be implementing Databricks Delta Live Tables, which will sustain the management of real-time data.  Most critically, the Unity Catalog system fortifies data governance and security, managing access, tracking lineage, and maintaining metadata to uphold the highest standards of data integrity.

Henadzi Dubin, Databricks Account Executive for emerging markets said, "Databricks is delighted to support BOV in its innovative endeavours to redefine the financial services industry through data. Our collaboration is set to create a benchmark in the utilization of advanced analytics and machine learning, paving the way for unprecedented advancements in the sector."

With this initiative, BOV reaffirms its dedication to being once more at the cutting edge of data technology and financial services, continuously seeking out and implementing the best solutions to serve its customers and enhance its operational efficiencies.


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