Bank of Cyprus chooses Dovetail for payments revamp
Bank of Cyprus has selected Dovetail’s payment solution to support Swift, Target2, SEPA credit transfer and direct debits. The project is part of the bank’s ongoing digital transformation programme.
Dr Andreas Stylianou, manager organisation and change, Bank of Cyprus, says: ‘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.”
Last year, Bank of Cyprus UK selected Lombard Risk’s new AgileReporter for automated regulatory reporting to replace Hitec Labs’ PolicyHub. The bank says it wanted to “improve” on its existing solution which required a number of supplementary manual processes to deliver its reports. The system is interfaced to the bank’s long-standing core banking solution, Misys’ Equation.
Also in 2016, Dovetail was chosen for two other notable payment overhauls.
Allied Irish Banks (AIB) concluded a system selection to replace its legacy payments tech supplied by D+H Corporation (formerly Fundtech) with Dovetail’s software.
Dovetail also helped US-based BMO Harris Bank with the upgrade phase of its wire platform replacement project.