Irini Grigoriou-Pavlidi, Executive Director of Consumer Banking at the Bank of Cyprus, tells Forbes Cyprus that the consumer strategy of the bank is built on the core principles of simplicity in customer experience, real-time personalisation, and the combination of technology with human relationships. “Technology delivers speed, but our people offer trust, expertise, and guidance in critical decisions,” she says.
How is Bank of Cyprus changing the way it approaches the needs of its customers? Bank of Cyprus is improving the way it addresses customer needs by adopting a truly customer‑centric model that aligns with international standards of leading banks.
Today, it is not enough to simply offer products; you must deeply understand the needs, habits, and expectations of the people who trust you. That is why we invest in data analytics tools, modern research methodologies, and continuous customer feedback—so that we can anticipate and meet their needs, not just serve them.
At the same time, we are transforming our services to be simpler, more immediate, and more human—even when they are digital. From everyday digital solutions to more complex banking products, our goal is to reduce complexity and deliver real value—with transparency, speed, and reliability.
This approach is not just a project; it is a way of life. It is how the largest and most historic bank in the country reaffirms its role every day: to stand firmly by the side of Cypriots, understanding their needs and creating solutions that genuinely improve their lives.
What are the key principles on which the Consumer Banking strategy is based today?
The Consumer Banking strategy of Bank of Cyprus is built on fundamental principles that reflect our role as a leading bank and as a pioneer in the country’s digital transformation.
Simplicity in the experience Our goal is for every transaction to be as simple as a command on a mobile phone—fast, clear, without unnecessary procedures. The BoC Mobile App has evolved into the “branch” that our customers always carry with them, and we systematically remove every waiting time and every point of friction. Customer expectations are now shaped by platforms like Netflix and Amazon; that’s why we operate with the same standards of instant satisfaction and functional simplicity.
Real‑time personalization The era of general categorization is over. With advanced data analytics and Artificial Intelligence, we create a “one‑to‑one” relationship. Each customer receives solutions, advice, and suggestions tailored exclusively to their own data, their own needs, and their own journey. We don’t just offer products. We offer personal solutions.
Combination of cutting‑edge technology and human connection Although we invest heavily in digital channels, the human dimension remains central. We are transforming our network into four distinct types of branches so that every need is served in the right environment:
- Full‑spectrum branches, the traditional branch where customers can carry out cash transactions as well as financing.
- Specialized financing units, where the customer experience becomes even more personal, as colleagues are dedicated exclusively to financing customer needs.
- Cash transaction units, staffed adequately to provide cash services quickly and reliably.
- Digital self‑service units, where the power of transactions is placed in the customer’s hands, whenever it suits them.
Technology provides speed, but our people provide trust, expertise, and guidance in critical decisions.
Which new products or services would you highlight as characteristic examples of “Banking Reimagined”?
“Banking Reimagined” is a holistic philosophy that changes the way we perceive banking. If I had to highlight examples, I would start with solutions that eliminate old, time‑consuming processes.
Quick Loans concern personal loans of up to €15,000, without the requirement of guarantees or collateral. The magic of Quick Loans lies in the simplicity and speed of the process. The application is submitted via the BoC Mobile App or internet banking, where the customer can choose the amount and repayment period that suits them. The request is evaluated electronically and the decision is immediate. Once approved, the customer can digitally sign the contracts without any visit to a branch, and the money is instantly credited to their account.
Beyond this, in the past six months we have enabled digital application, approval, and disbursement of a mortgage loan within 24 hours—already granting loans worth €6 million in this way. Those who have tried it cannot believe the speed with which they were served. Another important innovation is Digital Onboarding, which allows a new customer to register from their couch, without visiting a branch.
In the same spirit, Joey is our solution for children and teenagers—a safe way to manage their pocket money digitally, under parental supervision.
Additionally, Flexy brings the “Buy Now, Pay Later” trend into our customers’ wallets, offering flexibility in purchases.
Finally, I cannot fail to mention the Jinius platform, unique in Cyprus, which connects businesses with each other (B2B) as well as with consumers (B2C). Today, more than 1,800 companies and 272 merchants use it, and in just the first nine months of 2025, transactions worth €1.8 billion were carried out through the platform.
How do you leverage technology to make the banking experience easier and more immediate?
We use technology not simply as a tool, but as an accelerator of a new era in banking experience. Our goal is for banking to be as simple, direct, and effortless as our customers’ everyday lives.
The BoC Mobile App has now become our central branch—the bank’s “ecosystem” in the customer’s hand.
The real difference, however, comes from the smart technology behind the interface the customer sees. We invest heavily in Artificial Intelligence—not for show, but for tangible value.
We are creating an advanced AI Digital Assistant, which will provide 24/7 instant answers to questions and real‑time guidance.
We use AI for document and image recognition, drastically reducing processing times and eliminating errors—so that processes which once required hours can now be completed in minutes.
For us, technology is not a trend—it is the foundation of a banking experience that anticipates, simplifies, and protects.
It is the way in which Bank of Cyprus transforms a traditional service into a modern, seamless, and fully secure experience for every customer.
As the new Chief of Consumer Banking, what is your personal vision for the next phase of the Bank?
My vision is intertwined with the vision of the Organization: a Bank of Cyprus that is faster, simpler, yet always reliable. We want to be the first thought of every Cypriot citizen for any need: for the teenager making their first online transactions, for the young adult going off to study, for the family acquiring its first home, for the professional growing and expanding their business, and for the retiree safeguarding the savings of a lifetime.
We invest in speed, a clear customer experience, and solutions that make life easier—so that we can come even closer to our customers: timely, simply, and consistently.
Which challenges do you consider most critical, and how do you plan to address them?
At Bank of Cyprus we have proven that we choose to turn challenges into opportunities. Managing the speed of transformation is one such challenge. We are called to innovate continuously and at a rapid pace, while at the same time handling complex issues.
Cybersecurity is a major challenge, and a constant one, since risks evolve daily—meaning that addressing them is an ongoing process. That is why we invest in the best systems, the best processes, and the best people to manage these risks.
The human factor is also an important challenge. Internally, we invest in the continuous training of our people in new digital tools and new ways of thinking. As for our customers, we must manage the digital divide, and we have a responsibility to society not to leave anyone behind.
The acquisition of Hellenic Bank by Eurobank changes the banking landscape. How do you see it from the perspective of Bank of Cyprus?
First of all, we should note that the acquisitions of Hellenic Bank by Eurobank and of Astrobank by Alpha Bank are a clear indication of confidence in the Cypriot banking sector and the economy in general. From our side, we consider healthy competition to be a positive factor. After all, these two banks have been operating in Cyprus for years, so we do not expect substantial upheavals in the market structure, nor dramatic changes in the level of competition.
Digital platforms like Revolut have changed customer expectations. How do you respond to this new reality?
The so‑called Neobanks and Fintechs have acted as a wake‑up call for the traditional financial sector. Why do I say this? Because they have shown that banking can indeed be simple, immediate, and even more efficient. You are right that they have changed consumer expectations forever, and in this new reality we are called to compete with them—even though traditional banks must comply with and implement the strict regulatory framework that differs from that of neobanks.
Therefore, we adopt their flexibility, while developing and evolving our own digital channels. We offer an equivalent digital experience in payments, but we connect it with all the other financial needs of our customers, such as mortgages, investments, insurance, and more. And all of this is provided under the umbrella of security, supervision, and trust of an institution like Bank of Cyprus.
What is the role of Bank of Cyprus in this new era?
Our role is predetermined and decisive. For 126 years, the Bank of Cyprus has supported the people and businesses of Cyprus with the aim of ensuring the country’s prosperity. This is what we will continue to do.
In a period of many changes and new challenges, Bank of Cyprus remains a stable point of reference—the bank of Cyprus that combines modern solutions with responsibility and helps its customers move forward with greater security and confidence.