Digital Transformation in Malta: Surge in Online Banking, Enterprise Internet Adoption
Recent studies reveal that 60% of Maltese bank clients utilize mobile or internet banking services, while nearly 98% of enterprises employed internet usage in 2024, highlighting the nation's digital shift.
Photo by Myriam Jessier on Unsplash.
Recent studies by the Malta Financial Services Authority (MFSA) and the National Statistics Office (NSO) have highlighted a profound digital transformation in Malta, spanning both consumer banking habits and enterprise operations.
Rise in Digital Banking Adoption
According to a report by the Times of Malta, three out of every five bank clients in Malta have now adopted mobile or internet banking services. This trend marks a strong shift toward digital channels, with usage of mobile apps increasing year-on-year.
The MFSA’s thematic review, quoted in the same article, also recorded a noticeable decline in physical branch visits for both cash-related services and outward payments between 2022 and 2023. The COVID-19 pandemic is noted as a key driver of this change, accelerating consumers’ shift toward contactless and remote banking options.
“Banks have observed significant increases in both the number of users and volume of transactions via mobile and internet banking,” the MFSA stated (Times of Malta).
While this digital shift is evident, the MFSA cautions that a portion of the population still values in-person interactions—especially when dealing with complex or high-value financial matters. This suggests that while technology adoption is rising, hybrid models that maintain a degree of physical access remain relevant.
Internet Usage Among Enterprises Nears Universality
In parallel, a study on ICT usage by the NSO, cited by Malta Business Weekly, shows that 97.9% of enterprises with 10 or more employees made use of the internet in 2024. This uptake was consistent across all sectors and business sizes.
Furthermore, 91.2% of these enterprises provided employees with remote access to corporate systems, especially email and shared documents. As remote work practices mature, businesses are increasingly investing in infrastructure that supports digital collaboration.
ICT security remains a priority: 93.9% of enterprises adopted measures to protect against cyber threats. Most companies used strong authentication (90.5%) and off-site backups (83.8%) to secure their data.
In terms of e-commerce, the study revealed a 2.1 percentage point increase over the previous year in the number of businesses selling online. Total turnover from e-commerce sales amounted to €2.9 billion in 2024—a figure that signals growing digital maturity in the commercial space.
These twin findings from the MFSA and NSO illustrate Malta’s rapid digitalisation. Whether through mobile banking or cloud-enabled enterprise operations, individuals and businesses alike are embracing technologies that enable efficiency, convenience, and resilience in an increasingly digital world.