Reaching towards the future
The first step was taken in 2000 with the implementation of Direct Banking. Since then, the Bank has been constantly upgrading and expanding the range of its digital products and services, cultivating a digital culture among its staff while also encouraging and educating the public to get acquainted with the new circumstances. The ones in which a person can carry his digital bank everywhere he goes, making transactions on the move with absolute security, easily, quickly, and economically. Resolute in its goal to be a frontrunner, the Bank of Cyprus is the first to introduce customers to every new digital tool. Digital wallets, smartwatches, electronic signatures, applications, e-branches… Today, 93% of transactions are made through digital channels, which are used by 80% of customers.
Apple Pay and BOC Wallet
Bank of Cyprus, realising the needs of its customers, was the first to implement Apple Pay, which allows VISA and Mastercard cardholders to make secure and fast payments via iOS mobile devices. Respectively, payments via Android mobiles are made through the BOC Wallet App.
Mobile banking app
The upgraded mobile banking app now allows access through biometric data, providing the Bank’s customers the opportunity to manage their finances more securely. At the same time, within the framework of Open Banking, through 1Bank, the customer can monitor transactions and account balances in other UK and Cypriot banks with a simple ‘touch’.
Your watch is your wallet
Bank of Cyprus was also the first to bring all payments literally into the hands of its customers. With the smart watches - wallets Garmin Pay and Fitbit Pay that enable the public to make payments with their wrist.
Bank of Cyprus customers’ favourite service, allowing fast and easy money transfers to other customers, free of charge and without a limit on the transfer amount. Simply by entering the recipient's mobile number. Highly convenient, QuickPay is already being used by thousands of the Bank’s customers. Additionally, the Bank recently launched its partnership with the digital payment application Settle.
Business to Business APIs
An application that provides companies with direct access to 1Bank functions, such as account balances, transaction and payroll creation, as well as mass payments through their own systems.
At e-branches, customers will be able to opt for self-service and to conduct their banking transactions quickly, easily, and without charge. For example, there will be special ATMs in the interior of branches, allowing customers to make any transaction with the same ease and simplicity as they would have done with the help of a cashier. Two such machines have already been tested in branches and the results are very encouraging. Moreover, a service manager will be present at e-branches to guide and assist customers with their transactions.