Sparkasse Bank Malta plc is a private banking and investment institution licensed by the Malta Financial Services Authority to provide depository services to collective investment schemes. Its activities include providing custody and private banking services. It has a branch in Dublin, Ireland, and employs 350 people at its main office. Moreover, it has a presence in Austria and is licensed to provide depository services to Irish-registered funds. These licenses enable it to serve as a custodian for a significant share of the country’s Collective Investment Schemes. More information at Crunchbase
The Bank offers a wide range of investment services. Customers can execute trades on money market instruments, Collective Investment Schemes, and ETFs through a wide range of execution venues and MTFs. In addition, customers may use the Bank’s Trade Desk to execute trades in transferable securities. It is accredited by the Central Board of European Securities and Exchanges. However, it prefers to cater to institutional customers. This way, the customer’s account is safe.
The bank is part of the Austrian Banking group. It is the leading savings bank in central Europe with 711 branches. Its Sliema location is the headquarters of the Sparkasse Bank Malta plc. This company has also obtained numerous patents on AI algorithms. The benefits of using Innova are numerous: it will automate operational processes that are time-consuming and complex. Innova, which was developed by French FinTech Fortia Financial Solutions, will improve the efficiency of customer reporting and asset reconciliation. The bank plans to deploy the AI platform to perform automated customer reporting and investment restriction checks.