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Foreign exchange technology provider Integral has announced an expansion of the partnership with Bank of Cyprus to offer real-time pricing and risk management capabilities as part of the bank's online banking platform.
The partnership involves the implementation of Integral's advanced SaaS technology for liquidity aggregation, execution, and risk management. This will enable Bank of Cyprus to provide its retail, corporate, and international banking customers with tighter spreads through real-time pricing services, access to more than 45 currency pairs, and instant debiting and crediting of accounts without any additional charges.
Integral's technology is delivered through a wide range of API formats, ensuring quick and efficient integration with the bank's existing systems. This collaboration positions Bank of Cyprus as the first Cypriot bank to offer eTrading services to its clients through their 1Bank online banking platform, significantly enhancing the bank's client servicing capabilities.
Michael Kyrou, Manager of Global Markets & Treasury Sales at Bank of Cyprus, said: "Integral's advanced technology along with our close working relationship has helped us expand our trading business, supporting the foreign exchange transactional needs of our banking clients in Cyprus. Overall, this contributes to a more seamless client experience, on top of offering highly competitive pricing."
Harpal Sandhu, CEO of Integral, added: "We are excited to support another leading regional bank with their online banking and risk management capabilities, in a bid to make transactions even faster and more automated. This partnership represents the increasing shift towards use of cloud-based technologies to reduce complexities within banking systems. As banking becomes increasingly digital, Bank of Cyprus will benefit from our dynamic SaaS offering, enabling them to deliver highly configurable embedded FX solutions to their customers."
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