Opens in a new tab

Breaking news

Alpha Bank Rolls Out AI Voice Assistant With ElevenLabs

Greek lender Alpha Bank is expanding its partnership with AI voice technology company ElevenLabs with the rollout of an artificial intelligence-powered voice assistant designed to make customer service faster, more natural and easier to navigate.

A More Direct Route To Support

Instead of guiding customers through multiple menu options and automated prompts, the new system allows them to describe their request in natural language before being connected to the most appropriate adviser. Alpha Bank says the approach is expected to reduce the time it takes customers to reach the right member of staff.

With the launch, Alpha Bank becomes the first bank in Greece to deploy ElevenLabs’ voice technology at scale for customer service. The initiative forms part of the bank’s broader strategy to use artificial intelligence to strengthen, rather than replace, its customer-centric model.

Designed To Sound Familiar And Human

The bank says the technology is intended to support faster, more personalised service while complementing its existing network of specialist advisers. In collaboration with ElevenLabs, Alpha Bank developed a distinctive voice identity aimed at making interactions sound more familiar and natural.

The solution is powered by ElevenLabs’ ElevenAgents technology, which the bank said streamlines communication by enabling more direct, accessible conversations. The project is being implemented by ElevenLabs consultants, with support from Alpha Bank partners Barphone and SmartRep.

From Telephone Gateway To Digital Channels

The voice assistant will first be introduced through the bank’s customer service telephone gateway, before being extended across its broader digital contact points. It supports conversations in both Greek and English, handling the opening stage of the interaction before transferring customers to a specialist adviser when needed.

Customer experience has remained the central design principle throughout the project, according to the bank, with a focus on natural speech, seamless dialogue and minimal effort for users.

The same AI-generated voice will also be integrated into Alpha Bank’s e-banking and mobile banking chatbot, allowing customers who currently use text-based chat to move toward voice interaction in the near future. Alpha Bank said conversational understanding in the chatbot is powered by Moveo.ai, while ElevenLabs provides the voice layer.

Building A Broader Innovation Ecosystem

“Alpha Bank is developing a dynamic ecosystem that combines talent, technologies and partnerships to deliver projects at the forefront of developments in the banking sector,” chief executive Vassilios Psaltis said.

“Our partnership with ElevenLabs strengthens our ability to offer every customer faster and more natural access to personalised support, while delivering an overall experience that reflects Alpha Bank’s identity,” he added.

ElevenLabs co-founder Mati Staniszewski said: “We are proud to work with Alpha Bank to provide an artificial intelligence voice assistant that delivers fast and natural customer service through a voice that faithfully reflects the bank’s identity.”

He added that the company was pleased to see ElevenAgents deployed more broadly across European banking.

Alpha Bank said the collaboration reflects its continued investment in advanced technologies, strategic acquisitions and partnerships with leading technology companies, fintech firms and customer-facing platforms.

Cyprus Government Surplus Rises To €1.61 Billion In First Nine Months Of 2026

Cyprus recorded a general government surplus of €1.61 billion in the first nine months of 2026, equal to 4.0% of gross domestic product, as revenue growth outpaced the rise in public spending. Higher receipts from income taxes, social contributions and value-added tax (VAT) drove the improvement, while lower capital expenditure helped restrain spending.

Preliminary figures released Tuesday by the Statistical Service of Cyprus show the surplus rose to €1.17 billion, or 3.0% of GDP, up from € 442.1 million in the same period of 2025.

Total government revenue increased 6.5% to €12.09 billion, while expenditure rose 2.9% to €10.48 billion.

Key Fiscal MeasureJanuary–September 2025January–September 2026
Total revenue€11,353.9 million€12,091.8 million
Total expenditure€10,186.2 million€10,482.1 million
Government surplus€1,167.6 million€1,609.7 million
Surplus as a share of GDP3.0%4.0%

Income Taxes And VAT Lead Revenue Growth

Taxes on income and wealth made the largest contribution to the increase in revenue. Receipts in this category climbed by €442.2 million, or 15.3%, to €3.34 billion, compared with €2.89 billion a year earlier.

Social contributions rose by €235 million, or 6.6%, to €3.78 billion. Taxes on production and imports increased by €251.5 million, or 7.2%, reaching €3.77 billion.

Net VAT receipts, after refunds, totalled €2.64 billion, up €293.1 million, or 12.5%, from €2.35 billion in the first nine months of 2025.

Some Revenue Streams Decline

Not all revenue categories moved higher. Capital transfers fell by €74.6 million to €96.7 million, while current transfers declined by €71.6 million, or 20.5%, to €278.2 million.

Revenue from services slipped 1.0% to €743.5 million. Interest and dividend receipts dropped by €37 million, or 28.6%, to €92.4 million.

Social Benefits And Personnel Costs Increase

On the expenditure side, social benefits rose by €199.6 million, or 4.9%, to €4.27 billion. Compensation of employees—which includes imputed social contributions and public-sector pensions—increased by €108.3 million, or 3.8%, to €2.99 billion.

Intermediate consumption, covering goods and services used in the delivery of public services, rose by €114.3 million, or 11.0%, to €1.16 billion. Interest payments increased by €8.7 million, or 2.6%, to €340.7 million. Current transfers were up €68.7 million, or 10.6%, at €714.7 million.

Lower Capital Spending Limits Expenditure Growth

The overall increase in spending was tempered by a decline in capital expenditure. Capital-account spending fell by €189.9 million, or 16.9%, to €936.2 million from €1.13 billion in the same period last year.

Investment in fixed capital declined by €94.1 million, or 12.1%, to €686.4 million. Other capital transfers fell by €95.8 million, or 27.7%, to €249.8 million. Subsidies also decreased, dropping by €13.9 million, or 15.5%, to €75.8 million.

Aretilaw firm
The Future Forbes Realty Global Properties
eCredo
Uol

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter