Eurobank Cyprus, the country’s third largest bank by assets, has gone live on Temenos. This completes a full IT refresh of its core and digital banking systems. According to the bank, the move strengthens its customer services and competitive position as the primary bank of choice across affluent, international, corporate and wealth management segments.
The successful transformation program gives Eurobank Cyprus an agile, future-ready banking platform. Moreover, it forms a group wide IT blueprint for other subsidiaries in Eurobank Group.
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Project scope: replacing 85% of Eurobank Cyprus IT landscape
The project incorporated Temenos Core and Digital (formerly Infinity) together with Wealth Management, Financial Crime Mitigation (FCM), Analytics and Payments.
Through this programme, Eurobank Cyprus modernised completely its front-to-back operations. It centralised operations such as payments and wealth management back office and moved several transactional activities to digital channels for client self-service.
The scope of the change impacts the entire bank’s customer base. This includes individual and business customers served by its Corporate, Affluent, International and Private Banking divisions.
Major milestone: transforming the bank at a high level
Michalis Louis, CEO, Eurobank Cyprus, said: “The go-live with Temenos is a major milestone. It allows us to transform the bank at a high level. This was a complex and challenging project, but expertly delivered by our internal teams and Temenos working closely together. The new Temenos platform gives us business agility to achieve our goals. It opens the roadmap for further expansion, enhancements and growing the bank’s position as a market leader through the latest technology. We look forward to building on this success for customers in Cyprus and across the Eurobank Group”.
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By GlobalDataMark Yamin-Ali, MD, Europe, Temenos, added: “I wish to congratulate Eurobank Cyprus for its vision and execution in transforming the bank for the modern digital age. Eurobank has always been a pioneer. The move to Temenos including a full breadth of banking capabilities from digital and core banking to payments on an agile, open platform. It enables the bank to continue to drive innovation, deliver an outstanding customer experience across all segments and grow sustainably. Temenos has enjoyed a long and successful partnership with Eurobank Group. We are delighted to support the bank and its future success in Cyprus.”.
