Bank of Cyprus has tapped payments service provider Dovetail to equip it with payment hub functionality, covering SWIFT, Target2, SEPA Credit Transfer and Direct Debits.

The project is part of the bank’s ongoing digital transformation programme, Dovetail said in a statement.

Bank of Cyprus manager organization and change Andreas Stylianou said: “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. We selected Dovetail as a best-in-class solution. Their implementation processes and team made them uniquely qualified.”

Dovetail CEO Martin Coen said: “We are really excited that Bank of Cyprus has chosen Dovetail’s award-winning solution as a core element of their digital payments transformation.

“It enables the bank to make a step change in their payments business, by providing an efficient, technologically advanced solution that is easy to integrate with their existing systems and gives the flexibility and agility that the bank was looking for in enhancing their customer offerings without compromising their operational excellence.”