Eurobank Cyprus praised for digital transformation efforts
Eurobank Cyprus recently clinched the Digital Transformation Award at the Temenos Community Forum conference in Dublin, which took place from May 14-16.
This accolade celebrates the bank’s successful execution of a three-year digital overhaul, where 85 per cent of its core banking, digital channels, data warehouse, and wealth management systems and infrastructures were modernised.
By leveraging the powerful capabilities of the Temenos platform, Eurobank Cyprus has streamlined and digitised its internal operations while simultaneously reducing its environmental footprint.
This transformative programme has not only reinforced Eurobank Cyprus’s customer-centric approach but also enabled the provision of superior services, extended solutions, and innovative products through modern digital channels, ensuring both flexibility and security.
The award was proudly accepted by Spyros Loizou, Group Head of International IT & Domestic Subsidiaries Application Management, Constantia Constantinou, Head of Business Analysis at Eurobank Cyprus, and Elena Triga, Group IT Applications Management of Eurobank Group, at a special ceremony during the forum.
Michalis Louis, CEO of Eurobank Cyprus, expressed his enthusiasm about the milestone.
“The launch of the Temenos digital platform marks a pivotal step in our ongoing digital transformation”, he said.
“This complex and challenging project was met with resounding success, thanks to the dedicated cooperation between our internal team and Temenos,” he added.
“The new platform not only enhances our flexibility but also sets us on a path to achieve our business objectives, continuously evolve, and solidify our market leadership. We are immensely proud of this achievement and are eager to capitalise on it for the benefit of our customers and the entire Eurobank Group”, Louis concluded.
Echoing these sentiments, Spyros Loizou shared his pride in the team’s accomplishments. “I am both delighted and proud of our entire implementation team for this special moment. Receiving this award is a testament to our hard work and dedication to banking excellence,” he said.
“The journey to digital transformation was arduous and complex, yet we have successfully navigated it with a focus on modernising the bank and enhancing customer service,” he added.
“For us, this journey doesn’t end here. It marks the beginning of a new chapter that will propel Eurobank Cyprus, and through it, the Eurobank Group, into a new era”, Loizou concluded.
This award builds on another recent accolade from the internationally renowned financial magazine, Euromoney, which named the bank Best for Digital Solutions in Cyprus.
According to Euromoney, the new digital platform, underpinned by the Temenos system, has notably advanced the automation of processes, improved the compliance framework, and enhanced data processing/reporting, risk management, and asset management in Wealth Management.
Eurobank Cyprus is the first within the Eurobank Group to roll out this digital transformation programme, setting a benchmark for similar initiatives by other subsidiaries that maintain a significant presence in Greece, Luxembourg, the United Kingdom, and Bulgaria.