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Bank Of Cyprus Achieves ISO 37301 Certification, Setting a New Standard In Compliance

by THEFUTURE.TEAM

February 13, 2025

The Bank of Cyprus has made history by becoming the first organization in both Cyprus and Southeastern Europe to earn the prestigious ISO 37301 certification, an international standard for compliance management systems. This accomplishment places the bank in an exclusive group of European financial institutions recognized for their rigorous approach to compliance.

ISO 37301, endorsed by the European Banking Authority, provides a comprehensive framework focused on risk management and process optimization within Compliance units. It is a significant milestone that not only enhances the integrity and transparency of the organization but also improves its reputation by showcasing a commitment to ethical business practices and the best compliance standards.

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Marios Skandalis, Chief Compliance Officer at Bank of Cyprus, expressed the significance of this achievement: “The ISO 37301 certification is not just another accolade; it serves as an independent validation of the effectiveness of our Compliance function. It represents a lasting legacy for our customers, investors, and partners, reinforcing the trust we share with them.”

The Future Forbes Realty Global Properties

Airbnb Unveils Reserve Now, Pay Later Option For U.S. Guests

by THEFUTURE.TEAM

August 15, 2025

Introduction

Airbnb has introduced an innovative payment solution designed to enhance user flexibility for U.S. travellers. The new “Reserve Now, Pay Later” feature enables users to secure a booking without an upfront payment, offering a streamlined cancellation process should plans change.

Flexible Payment Terms

This new option applies to listings that feature either flexible or moderate cancellation policies. Under a flexible policy, guests can cancel their reservation up to 24 hours before check-in, while a moderate policy offers no-fee cancellations until five days prior to arrival.

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Payment Timing and Reminders

Regardless of the cancellation window, guests are obligated to complete the full payment before the expiration of the free cancellation period. Airbnb ensures a smooth experience by sending timely payment reminders to avoid any last-minute issues.

Evolution of Airbnb’s Payment Solutions

This initiative builds on Airbnb’s previous forays into flexible payment structures. In 2018, the company offered a partial upfront payment model, and more recently, a collaboration with Klarna enabled guests to pay in four installments over six weeks. Such strategic advancements demonstrate Airbnb’s commitment to adapting and refining its payment solutions to meet evolving consumer demands.

Consumer Insight Driving Innovation

Airbnb’s decision to launch the “Reserve Now, Pay Later” feature reflects robust consumer demand, with recent surveys indicating that 55% of respondents prefer flexible payment options. Additionally, 42% noted missed opportunities due to payment complexities when coordinating with travel companions, underlining the need for simplified financial arrangements.

Conclusion

By enhancing payment flexibility, Airbnb not only broadens its appeal but also addresses critical customer pain points, reinforcing its position as a leader in the evolving travel market. This initiative exemplifies how strategic innovation can drive customer satisfaction in an increasingly competitive landscape.