Currency trading technology provider Integral Development Corp has announced an expansion 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.
In choosing to implement Integral’s leading SaaS technology for liquidity aggregation, execution, and risk management, retail, corporate and international banking customers of the bank will benefit from 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.
All of this is delivered via a broad range of API formats, offering quick and efficient integration with existing systems. This partnership makes Bank of Cyprus the first Cypriot bank to offer eTrading services to its clients as part of their 1Bank online banking platform, 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.”
About Integral
Integral is the currency technology partner to hundreds of financial institutions, including banks, brokers, and cross-border payment companies, who have embedded Integral’s technology in their workflows and customer facing services. Adopted first by the financial markets and now invaluable to every global business across all industries – our corporate-meets-consumer cloud, technology stack is already powering the change and solving the currency challenges every global organization is facing. Founded in 1993, Integral maintains development, support, and sales offices in Palo Alto, New York, London, Tokyo, Singapore and Bengaluru.
About Bank of Cyprus
The 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 which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance. At 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 staff worldwide. At 31 December 2023, the Group’s Total Assets amounted to €26.6 bn and Total Equity was €2.5 bn. The Bank of Cyprus Group comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary Bank of Cyprus Public Company Limited and its subsidiaries.
