ai digital — ai digital — The Bank of Cyprus (BoC) has embarked on an exciting journey by partnering with Avenga for the co-development of a new digital platform that harnesses the power of Agentic AI alongside Microsoft Azure AI services. This strategic collaboration is a significant step in the bank’s ongoing digital transformation efforts.
As part of a multi-year cloud strategy, developed in close collaboration with Microsoft, the initiative aims to accelerate digital modernisation and enhance customer services. By implementing advanced technologies, the bank seeks to strengthen resilience and create a more intelligent and personalised banking experience.
One of the most notable features of this new platform is the Conversational Banking initiative, which promises to redefine customer interactions with the Bank of Cyprus. Customers will soon be able to engage directly with the bank through the BoC mobile app using natural language. This conversational interface will enable users to conduct transactions, access services, and receive guidance, all in a seamless manner aligned with the bank’s customer-centric strategy.
In a statement, George Kousis, Executive Director of Technology and Operations at BoC, highlighted the significance of this partnership, stating, “This marks a significant milestone in our journey to transform the customer experience.” He further elaborated that the initiative will revolutionise how customers interact with the bank by introducing a conversational interface that allows for smooth transactions through natural language.
Emphasising the importance of security, the bank has assured customers that the highest standards of transparency, privacy, and safety will be embedded within the platform. Despite the incorporation of AI, BoC is committed to maintaining human support as a fundamental aspect of customer service. Trained call centre agents will continue to assist customers, bolstered by internal AI assistants to enhance efficiency.
Dimitris Chouchoulis, Chief Transformation Officer at BoC, noted the changing landscape of banking, stating, “Today, customers want things to be easy, fast, and personal.” He expressed excitement about the partnership with Avenga and Microsoft, describing it as a move towards making banking as simple as a conversation, accessible anytime and anywhere.
On the Avenga side, Mike Crosby, Director of Business Development for Banking and Financial Services, conveyed that this partnership transcends mere technology. He asserted, “It’s a chance to reshape how people connect with their bank.” The vision includes developing a conversational banking platform that not only responds to customers but genuinely understands their needs, setting new standards for digital banking across Europe.
Yanna Andronopoulou, Microsoft General Manager for Greece, Cyprus, and Malta, echoed these sentiments, stating that the collaboration leverages the strengths of Agentic AI and Microsoft Azure to create secure, human-centric banking experiences. She concluded that this partnership not only accelerates digital transformation in the financial sector but also establishes a new benchmark for customer engagement and innovation.
