Eurobank Cyprus upgrades its core banking system with Temenos

By Gloria Methri

Eurobank Cyprus has gone live on Temenos, completing a full IT refresh of its core and digital banking systems. The move aims to strengthen the bank’s customer services and competitive position as the 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 the 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 modernized its front-to-back operations, centralizing operations such as payments and wealth management back office and moving several transactional activities to digital channels for client self-service.

Michalis Louis, Chief Executive Officer, Eurobank Cyprus, said, “The go-live with Temenos is a major milestone that allows us to transform the bank at a high level. 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. It opens the roadmap for further expansion, enhancements and growth of the Bank’s position as a market leader through the latest technology.”

Mark Yamin-Ali, Managing Director – Europe, Temenos, said, “I wish to congratulate Eurobank Cyprus for its vision and execution in transforming the bank for the modern digital age. Eurobank has always been a pioneer, and the move to Temenos, including a full breadth of banking capabilities from digital and core banking to payments on an agile, open platform, will enable the bank to continue to drive innovation, deliver an outstanding customer experience across all segments and grow sustainably.”

Focused on innovation and sustainability, Eurobank Group designs and implements initiatives using cutting-edge technology and following ESG rules.