12° Nicosia,
21 March, 2023

Eurobank Cyprus selects TEMENOS for its digital transformation

Eurobank to redefine its operational model


Press Release

Eurobank Cyprus, in the context of redefining its operational model, has chosen Temenos as its strategic partner for the rapid and successful transition to the new era of digital transformation.

This will further enhance Eurobank's customer-centric model and will enable the Bank to provide high quality services to its customers through modern digital channels. At the same time, the Bank will be able to continue to meet the growing needs of its customers for solutions, innovative products and efficient management of their funds through an integrated digital Wealth Management solution.

In the context of digital transformation, the Bank places particular emphasis on security and optimization of regulatory compliance and risk management methods.

Mr. Stavros Ioannou, Deputy Chief Executive Officer, Group COO of the Eurobank Group, said: "The cornerstone of our growth is the commitment to our customers, to deepen the trust we have with them and to provide high quality services and innovative products. Temenos's modern technology will enable our Bank to further develop this commitment by putting us at the forefront of innovation. Taking into account the strong international character of the Eurobank Group, the innovative digital solutions offered by Temenos constitute a vital goal for our organization. We look forward to this cooperation, the first stage in the broader implementation of Temenos banking software solutions that will include other Eurobank Group subsidiary banks".

Mr. Michalis Louis, Chief Executive Officer of Eurobank Cyprus, said: "The transition from the traditional to a modern mode of operations is not only a strategic choice, but also stems from the need created by developments in technology. We move forward with this important investment with a reputable international partner focusing on automation and holistic continuous experience for our customer".

Steen Jensen, Managing Director of Temenos in Europe, said: "We are very pleased to be working with the Eurobank Group. By choosing Temenos, Eurobank will utilize an integrated banking system that will significantly boost customer confidence. Using innovative technology, any changes to the banking software can take place in hours rather than weeks. This will reinforce the innovation of Eurobank's products and prepare them for future growth and expansion".

Temenos AG, based in Geneva, is the world leader in banking software. Over 3,000 businesses around the world, including 41 of the top 50 banks, rely on Temenos to process daily transactions for more than 500 million customers in 150 countries. Temenos has proven to offer the most complete market functionality, allowing its customers to achieve banking excellence.

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