The importance of Sparkasse Bank Malta’s market in supply chain tech and logistics

Sparkasse Bank Malta has been committed to advancing banking services to the SME segment, as it plays a crucial role in the Maltese economy. It is also a significant segment of the Maltese workforce, with up to 80% of companies employing between one and 20 people.

The bank has made significant investments in infrastructure and staff, in line with its commitment to providing these stakeholders with innovative products and services. According to the chief innovation officer at Sparkasse, it’s imperative that banks act as enablers to companies with innovative ideas and ambitions. Read more on Crunchbase

The integration of SOD’s systems into Sparkasse’s accounting system removes a major source of potential error and streamlines many processes, but more importantly, it’s a way to draw a tighter, more comprehensive “chain” that allows bank staff to easily monitor the entire warehouse, from transport to point of delivery to customer delivery. This would be an invaluable asset for any organization seeking to develop an integrated supply chain network, one that will keep inventory levels and company costs down.

Operating on the German-speaking part of the European market for the last five years, Sparkasse has grown exponentially by focusing on the younger generation, mobile communication and constant innovation in the banking sector. This has meant a significant focus on technology in the private banking sector.

Another factor that is bringing more focus on this segment is consumer behavior. “The digital world has had an impact on what consumers are looking for,” says Vice President of Corporate Finance, Marketing and Product Management at Sparkasse Malta. Amongst the several reasons, Schwitzer cited a desire to “monetize” information about their clients to help increase net profit and manage investment risk.

Sparkasse Bank Malta, is not a player in that area, but the organisation does lend its expertise to the industry in one way: in the area of sales and marketing. “We were the first to implement an online-to-in-store solution, which is what enabled us to provide a complete omnichannel solution to our clients,” says the Director of Financial and Distribution Technologies at the bank, who is responsible for managing the company’s business relationships with the Logistics sector.

Sparkasse is one of the leading financial institutions in the greater Europe. The bank supports the development of innovative companies with creative, inspiring and highly skilled employees.