Bank of Cyprus has unveiled an innovative enhancement to its banking services through a strategic partnership with Integral, a leading provider of currency technology solutions. This collaboration marks a significant milestone as the bank becomes the first in Cyprus to integrate eTrading capabilities directly into its 1Bank online platform.
Enhanced Trading Opportunities
Under this partnership, Bank of Cyprus leverages Integral’s state-of-the-art Software as a Service (SaaS) technology for liquidity aggregation, execution, and risk management. This initiative aims to provide retail, corporate, and institutional clients with access to real-time pricing across more than 45 currency pairs. Clients will benefit from tighter spreads and seamless transaction processes, including instant account debiting and crediting, at no additional cost.
Transforming Client Experience
Michael Kyrou, Manager of Global Markets & Treasury Sales at Bank of Cyprus, emphasized the strategic benefits of this collaboration: “Integral’s advanced technology, combined with our strong partnership, enhances our trading capabilities, meeting the diverse foreign exchange needs of our clients in Cyprus. This move underscores our commitment to delivering competitive pricing and a superior client experience.”
Cloud-Based Innovation
Integral’s CEO, Harpal Sandhu, highlighted the strategic significance of cloud-based technologies in modern banking: “This partnership reflects the growing trend towards cloud-based solutions in simplifying banking operations. By adopting Integral’s dynamic SaaS platform, Bank of Cyprus is empowered to offer highly customizable embedded FX solutions, catering to the evolving digital landscape.”
About Integral and Future Developments
Established in 1993, Integral is renowned for its cloud-based SaaS FX workflow solutions, serving a wide spectrum of buy-side forex market participants globally. Recently, the company secured $30 million in growth financing to expand its business operations. Integral has also ventured into the crypto market, collaborating with Mint Exchange to launch specialized technology solutions tailored for institutional crypto trading.
By integrating Integral’s cutting-edge technology, Bank of Cyprus continues to lead the way in digital banking innovation, enhancing accessibility and efficiency for its clientele across Cyprus. This strategic initiative not only reinforces its position in the market but also sets a new standard for banking excellence in the region.
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