Forex trading technology provider Integral Development Corp has announced an extension of its partnership with Bank of Cyprus to offer real-time pricing and risk management capabilities as part of the bank’s online banking platform.
By choosing to implement Integral’s leading SaaS technology for liquidity pooling, execution and risk management, the bank’s retail, corporate and international banking clients will benefit from tighter spreads through real-time pricing services, access to more than 45 pairs currencies and instant debit and credit of accounts without additional fees.
All of this is provided through a wide range of API formats, offering fast and efficient integration with existing systems. This partnership makes Bank of Cyprus the first Cypriot bank to offer eTrading services to its customers as part of the 1Bank online banking platform, enhancing the bank’s customer service capabilities.
Michael Kyrou, Manager Global Markets & Treasury Sales at Bank of Cyprus, said:
“Integral’s advanced technology together with our close partnership has helped us expand our trading activities, supporting the foreign exchange trading needs of our banking clients in Cyprus. Overall, this contributes to a more seamless customer experience, in addition to offering extremely competitive pricing.”
Harpal Sandhu, CEO of Integral, added:
“We are excited to support another leading regional bank with online banking and risk management capabilities in an effort to make transactions even faster and more automated. This partnership represents the growing shift towards using cloud-based technologies to reduce complexity in banking systems. As banking becomes increasingly digital, Bank of Cyprus will benefit from our dynamic SaaS offering, enabling it to provide its customers with integrated and highly configurable foreign exchange solutions.”
About Integral
Integral is the currency technology partner to hundreds of financial institutions, including banks, brokers and cross-border payment companies, that have integrated Integral’s technology into their workflows and customer-facing services. First adopted by the financial markets, it is now invaluable to every global business across all industries – our enterprise cloud meets consumer, technology stack is already powering change and solving the currency challenges facing every global organization. Founded in 1993, Integral maintains development, support and sales offices in Palo Alto, New York, London, Tokyo, Singapore and Bangalore.
About the Bank of Cyprus
Bank of Cyprus Group (LON:BOCH) is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services including retail and commercial banking, finance, receivables agencies, investment banking, brokerage, fund management, private banking , life and general insurance. As of 31 December 2023, the Bank of Cyprus Group operated through a total of 64 branches in Cyprus, of which 4 operated as cash offices. The Bank of Cyprus Group employed 2,830 people worldwide. As of December 31, 2023, the Group’s Total Assets amounted to €26.6 billion and Total Equity was €2.5 billion. The Bank of Cyprus Group includes Bank of Cyprus Holdings Anonyme, its subsidiary Bank of Cyprus Public Company Limited and its subsidiaries.