The Central Bank of Cyprus (CBC) is advancing its banking sector into the digital age by awarding a tender to a joint venture between Aqubix and Infocredit Group. This collaborative effort aims to modernize the digital onboarding process in Cyprus using the KYC Portal CLM, a product tailored to streamline onboarding for new customers and update existing customer data within credit institutions.
Following a competitive tender process, the agreement signifies a significant leap toward transforming the Cypriot banking experience. The platform enables both new and existing credit institution customers to verify and authenticate their details, ensuring compliance with regulatory requirements, all without the necessity of physical visits to a bank. This marks a substantial optimization of account opening procedures, providing a secure, swift, and highly efficient onboarding experience.
The project has garnered substantial support, with the participation of leading local banks, including the Bank of Cyprus, Hellenic Bank, Alpha Bank Cyprus, Astrobank Public Company Limited, the Cyprus Development Bank, and Eurobank Cyprus. The consultative process involving the Central Bank of Cyprus governor has contributed to the project’s success.
KYC Portal CLM by Aqubix, launched in 2017, has served over 80 customers in more than 22 countries across five continents. Recognized with international accolades, including the Best Know Your Customer Solution at the RegTech Insight Awards, it solidifies its position as a leader in the FinTech space.
By FCCT Editorial Team
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