FRIDAY, 14 MAY 2021

 

CONNECT

Facebook Linked In Twitter
GAP Vassilopoulos
GloriaJeans_266x90px
IMH LTD

Kokkinos: Cyprus To Implement Green Pass, Safe Pass Will Not Be Digitalised

Savvas Perdios: City Of Dreams Casino A Turning Point For Cyprus' Tourism Industry

IMH LTD

SERVICES

brought to you by Barclays

BoC: Access to Overseas Accounts through 1bank

BoC: Access to Overseas Accounts through 1bank

Through 1bank, Bank of Cyprus customers can now have easy and fast access to accounts they hold in banks overseas.

Once again the all-new Mobile Banking App leads the way, providing customers this facility which is directly linked to the new realities of Digital Banking. It is yet another decisive step towards achieving the digital transformation of Bank of Cyprus, as we constantly evolve and adapt to cutting-edge technologies.

Highlighting its potential in relation to what is coming in Digital Banking, and fully complying with the European Union’s PSD2 (Revised Payment Service Directive) as well as other regulatory guidelines relating to banks’ adaptability to policy strategies in innovation and high-tech, 1bank full adopts and implements the philosophy of Open Platforms.

What does it mean?

Beyond their existing personal and authorised accounts which they manage via 1bank’s Internet & Mobile Banking, Bank of Cyprus customers will be able to login securely and easily to their subscription and gain access to accounts they hold in English banks, such as Lloyds Bank, Halifax and Bank of Scotland, Natwest, RBS, HSBC, First Direct and M&S Bank. At the same time Bank of Cyprus shall continue adding more banking organisations.

Through 1bank, private or corporate subscribers will be able to stay updated on their account balances and get information on their accounts, such as their transaction history, as well as other information relating to their transactions. The only prerequisite for using this important facility is that users must have access to the Bank’s Online Banking to which they wish to connect their accounts.

What this essentially comes down to is the ongoing implementation of PSD2, the directive setting out a common legal framework for businesses and consumers for payments within the European Economic Area. However, PSD2 and Open Banking are about a great deal more than just adapting the market to e-commerce and online and mobile payments; these are steps forward which facilitate online and mobile payments, supporting customers in their decision to handle their accounts themselves and, in particular, to shop around for financial products and services.

Bank of Cyprus is moving ahead decisively toward the API Economy. Since adopting Open Banking last year, we have made available to stakeholders the functionality of our systems in the form of secure Application Programming Interfaces (APIs). We later offered the SandBox Developers portal (sandbox.bankofcyprus.com), allowing software developers and other parties to register and freely test the functionality of the APIs.

MORE ON SERVICES

The 7th International Funds Summit

The 7th International Funds Summit sets the bar high – More than 600 fund managers ...

11th ICT Conference & Exhibition - Tech Revolution

The COVID-19 pandemic has not only accelerated the 4th Industrial Revolution but it has ...

SMEs in Cyprus: Development and Long-Term Survival

IMH, Epic, Hellenic Bank and the University of Central Lancashire Cyprus (UCLan Cyprus) ...

FROM AROUND GOLDNEWS

   

Kokkinos: Cyprus To Implement Green Pass, Safe Pass Will Not Be Digitalised

The Deputy Ministry of Research and Innovation has decided not to proceed with the digitalisation of the Safe Pass (Cyprus immunity certificate), but to ...
   

Savvas Perdios: City Of Dreams Casino A Turning Point For Cyprus' Tourism Industry

The integrated resort (IR) casino “City of Dreams” once completed will mark a turning point for Cyprus’ tourism industry, as it will create a ...
   

WiRE FS: Alex Michael Joins As Interim Chief Technology Officer

WiRE FS team is significantly strengthened with Alex Michael taking the position of Interim Chief Technology Officer (CTO). Alex will spearhead the ...
   

Lavrov: Russia Supports UNSG's Will To Resolve Cyprus Issue Through Political And Diplomatic Means

Russia`s Foreign Minister Sergey Lavrov said that his country supports UN Secretary General`s will to resolve Cyprus issue through political and diplomatic ...
   

EY Survey: Greater Tax Risk For Organizations Globally, In 2021 And Beyond

More than half (53%) of responding business tax leaders expect greater tax enforcement in the next three years, particularly as governments look to remedy ...
   

Republic of the Marshall Islands Updates its Yacht Code

The Republic of the Marshall Islands (RMI) Yacht Code (the “Code”) has been updated and amended making it more pragmatic than ever for modern and ...
   

Amazon Has €250m 'Back Taxes' Overturned In Court

Amazon has won a court battle over €250m (£215m) in taxes it had been ordered to pay Luxembourg. The European Commission had ordered the tech ...
   

Safe Bulkers Inc: 2021 Begins with Higher Revenues and Increased Profit

The 2021 first quarter results of the New York Stock Exchange-listed Cypriot shipping company Safe Bulkers Inc., exceeded analysts’ expectations as it ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Eurobank
Enter_Cy_10/20-4/23

IMH LTD