The Malta Financial Services Authority (MFSA) has published feedback following a thematic review examining how credit institutions are adopting digital solutions across their service delivery. The review focused on how digital channels are being used to improve the customer experience, while also assessing the operational readiness of banks to support secure and accessible services.
Review Scope and Context
The MFSA reviewed a sample of credit institutions active in the local retail market. The exercise considered publicly available information, data provided by the institutions, and supervisory meetings focused on digital service features, customer engagement, and future plans. Main Observations
-
Onboarding and Access to Services
-
Digital Channels and Usage
-
ATM Services and Branch Trends
-
Security and Customer Notifications
-
AI and Chatbots
-
Customer Support and Inclusivity
Expectations and Recommendations
The MFSA expects credit institutions to focus not just on the functionality of digital services, but on the full customer journey, from onboarding to ongoing support. Institutions are encouraged to:
- Enhance digital channels without compromising service quality for in-branch clients
- Improve the consistency and clarity of transaction data across platforms
- Introduce real-time notifications as a standard feature
- Ensure digital channels are secure, user-friendly, and supported by accessible help features
- Develop long-term strategies for the use of AI and automation where appropriate
The MFSA’s thematic review reflects the sector’s progress in digital service delivery while pointing to areas that need further development. Institutions are reminded that digitalisation is not simply a matter of technology, but of maintaining trust, accessibility, and efficiency across all touchpoints.
How can BDO Malta help
BDO Malta can assist credit institutions in assessing their digital readiness, reviewing customer-facing processes, and enhancing their operational frameworks. Our teams provide support across governance, regulatory compliance, digital strategy, and risk management — helping banks strengthen their digital offering in line with supervisory expectations.To access the 'Dear CEOs letters' issued by the MFSA, click here or visit our articles related to MFSA's news: MFSA Survey Highlights Varying Preparedness for CRR3 Implementation, MFSA pushes Financial Institutions towards compliance with FIR/03 and MFSA Introduces New Fund Structures to Expand Malta’s Investment Options
Get in Touch