Bank of Cyprus has selected business technology major IBM for the implementation of the bank’s digital transformation.
Bank of Cyprus said its digital transformation Program is designed to create a more modern and efficient IT platform, supported by streamlined processes. Improving the customer experience through visible and positive changes to how the Bank interacts with its customers is a key deliverable for this program.
Bank of Cyprus is leveraging IBM’s expertise to implement an enterprise wide process re-engineering program, digitizing and automating processes with a goal to achieve significant efficiencies while directing routine customer interactions to digital channels.
Bank of Cyprus will utilize IBM iX capabilities to redesign its digital channels, with an initial focus on mobile, enriching its technological capabilities to support the revamping of the physical branch network and improving personalized experience to clients.
As part of the digital transformation deal, IBM will support the financial institution to optimize IT infrastructure, enhance standardization and automation, streamline its internal IT systems and Service Management processes and introduce foundational big data and analytics capabilities.
“With IBM’s help, Bank of Cyprus will use digital innovation to improve efficiency and agility across the organization in order to provide a significantly superior experience to its customers,” said Likhit Wagle, general manager, Banking and Financial Services, IBM.
IBM and Bank of Cyprus will set up a joint Digital Factory that will serve as a vertical, agile delivery function, hosting emerging technology skills and leveraging DevOps tools and methodologies.
Bank of Cyprus and IBM will establish a Innovation Capability – dedicated to innovation, concept and prototype development – that will continuously fuel the Bank’s Digital Transformation Program with new and emerging technology.