The Malta Financial Services Authority (MFSA) published the results of a thematic review of how local banks are adapting to technological change, finding that over 60% of clients are enrolled in mobile or internet banking. Across 2022 to 2023, the MFSA observed increased use of digital services, particularly mobile banking, alongside an overall decline in branch footfall for cash services and outward payments. The review drew on information from banks’ websites and data capturing trends in mobile and internet banking usage, chatbots, ATM and branch usage, card usage and the availability of other online products. The MFSA also highlighted that, despite the shift to digital channels, some customers continue to prefer face-to-face interactions, particularly for more complex matters, and it issued recommendations to banks via a Dear CEO Letter, including customer education and digital literacy initiatives, stronger cybersecurity measures, and ensuring both digital platforms and branches can meet the needs of different customer demographics. It noted increased investment in ATM networks and upgrades, higher chatbot resolution rates between 2022 and 2023, and plans by some banks to enhance chatbots, including appointment setting and Maltese language functionality. The MFSA also reported that most credit institutions are considering online client onboarding in 2025 to reduce the need for branch visits. The MFSA indicated it will continue monitoring the digital evolution of Malta’s banking sector against regulatory standards and the public interest.

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