Eurobank Cyprus: Received the Digital Transformation Award

This important distinction is recognition of the success of the Bank's three-year digital transformation program, which provided for the replacement of 85% of the systems and infrastructures in Core Banking, Digital Channels, Data Warehouse and Wealth Management, with new innovative solutions. Taking advantage of the possibilities provided by the Temenos platform, Eurobank Cyprus proceeded with improvements, simplifications and digitization of its internal processes, reducing, at the same time, its environmental footprint. With the implementation of this program, Eurobank Cyprus further strengthens its customer-centric model by providing its customers with top services, expanded solutions and innovative products through modern digital channels with flexibility and security. At the same time, the use of Temenos, the world's largest platform for digital banking, contributes to strengthening and maintaining the position of Eurobank Cyprus as a bank of first choice.

The award, on behalf of Eurobank Cyprus, was received by special ceremony held as part of the Temenos Community Forum, Mr. Spyros Loizou, Group Head of International IT & Domestic Subsidiaries Application Management of the Group, Mrs. Konstantia Constantinou, Head of Business Analysis of Eurobank Cyprus and Mrs. Elena Triga, Group IT Applications Management of the Eurobank Group.

In his statement, the managing director of Eurobank Cyprus, Mr. Michalis Louis, said: “The launch of the Temenos digital platform is an important milestone that allows us to proceed with the digital transformation of the bank at a top level. It was a complex project and at the same time a big challenge which we successfully tackled thanks to the close cooperation of our internal team with Temenos. The new platform provides us with the possibility for more flexibility and paves the way for us to achieve our business goals, continuously improve, upgrade and consolidate our leadership position in the market. We are proud of this new success which we want to exploit for the benefit of our customers, but also of the entire Eurobank Group”.

Receiving the award the Group Head of International IT & Domestic Subsidiaries of the Group, Spyros Loizou, said: “I am particularly happy, but also proud of the entire implementation team for this special moment and to have the honor of receiving this important award on behalf of Eurobank Cyprus. An award that is the culmination of hard work, but also of our commitment to banking excellence. The digital transformation journey has been a difficult and complex challenge, which we have successfully tackled with the aim of modernizing the bank and better serving the customer. For us, the journey does not end here, but it is the starting point of a new beginning that will lead Eurobank Cyprus and through it the Eurobank Group into a new era”.

This new distinction comes in addition to another recent distinction of the Bank for its digital transition from the internationally renowned financial magazine Euromoney as Best for Digital Solutions in Cyprus. According to Euromoney, the introduction of the new digital platform through the Temenos system contributed, among other things, to the automation of processes, the improvement of the compliance framework, better data processing/reporting, risk management and wealth management.

Eurobank Cyprus is the first Bank of the Eurobank Group to implement this digital transformation program, thus providing a “guide” for similar initiatives by other subsidiaries of the Group that maintains a significant presence outside Cyprus in Greece, Luxembourg, United Kingdom and Bulgaria.

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