Eurobank Cyprus, the country’s third largest bank with deposits exceeding €7 billion, has gone live on Temenos, completing a full IT refresh of its core and digital banking systems.
The move further strengthens the bank’s 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 and forms a group wide IT blueprint for other subsidiaries in Eurobank Group. It involved replacing 85% of the bank’s IT landscape and included Temenos Core and Digital (formerly Infinity) together with Wealth Management, Financial Crime Mitigation (FCM), Analytics and Payments.
Through this program, Eurobank Cyprus completely modernised its front-to-back operations, centralising operations such as payments and wealth management back office and moving several transactional activities to digital channels for client self-service. The scope of the change impacts the entire bank’s customer base, including individual and business customers served by its Corporate, Affluent, International and Private Banking divisions.
“The go-live with Temenos is a major milestone that allows us to transform the bank at a high level,” said Michalis Louis, CEO, Eurobank Cyprus.
“This was a complex and challenging project, but it was expertly delivered by our internal teams and Temenos working closely together. The new Temenos platform gives us business agility to achieve our goals and opens the roadmap for further expansion, enhancements and growing the bank’s position as a market leader through the latest technology.”
