Bank of Cyprus transforms payment capability with Dovetail

15 February 2017

Solution supports SWIFT, Target2, SEPA Credit Transfers and Direct Debits and provides base for transformation program

London, Dovetail, the provider of best-in-class payments and liquidity management solutions, has today announced that Bank of Cyprus has selected the Dovetail Payment Solution to equip the bank with payment hub functionality covering SWIFT, Target2, SEPA Credit Transfer and Direct Debits. The project will provide the payments foundation for its on-going digital transformation program.

Commenting on the news Dr.Andreas Stylianou, Manager Organization and Change, from the Bank of Cyprus said: “Payments are the life blood of our business. We needed a modern, proven payments solution that could address not only our immediate needs, but also our future payment initiatives. We selected Dovetail as a best-in-class solution. Their implementation processes and team made them uniquely qualified.”

“We are really excited that Bank of Cyprus has chosen Dovetail’s award-winning solution as a core element of their digital payments transformation. It enables the bank to make a step change in their payments business, by providing an efficient, technologically advanced solution that is easy to integrate with their existing systems and gives the flexibility and agility that the bank was looking for in enhancing their customer offerings without compromising their operational excellence”, said Martin Coen, CEO.

About Dovetail
Dovetail provides best-in-class payments and liquidity management solutions that enable banks to simplify their infrastructures and deliver effective digital transformation. Solutions are available on premise or in the cloud, are scalable up and down, across functional and volume needs and offer unrivalled customer and segment personalization. All are based on a single real-time architecture, providing flexibility for a bank in setting the pace of its modernization, addressing point needs or replacing multiple legacy systems.

Leveraging the continuing investment from Dovetail and its world-leading client base, banks can rapidly achieve a measurable return on investment, increase strategic agility and operational excellence, optimize total cost of ownership and ensure regulatory compliance. For more information on Dovetail, please visit our website, www.dovetailsystems.com