Bank Of Cyprus Digital Users Reach 504,000 As Transactions Grow

Cyprus has seen increased adoption of digital banking services, according to data from Bank of Cyprus. Digital channels are now a primary interface for both retail and business customers.

Significant Growth Through Digital Channels

In 2025, Bank of Cyprus added 10,461 new users to its mobile app, bringing the total number of active digital customers to 504,000. QuickPay recorded 249,000 active users, processing 881,000 transactions worth €101.1 million in December alone. Transaction volumes increased 13.7%, while transaction values rose 17.9% compared with December 2024.

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Expanding Digital Services Beyond Transactions

Digital platforms also supported the issuance of 32,065 new debit cards in 2025. Insurance activity increased, with motor and home insurance registrations reaching €698,900, up 12% year over year. Products such as Fleksy and the Joey app recorded additional user activity and transaction growth.

From Technology To Enhanced Experience

Panicos Nicolaou, CEO of Bank of Cyprus, said customer expectations are increasingly focused on digital service quality and usability. Digital services are also expanding access to financial tools for small businesses and other customer segments.

Global Recognition And Strategic Transformation

Global Finance awarded Bank of Cyprus 11 prizes at the World’s Best Digital Bank Awards 2025, including categories related to digital transformation and social media services. The bank said its integrated B2B and B2C platforms support the continued expansion of digital services.

Digital Banking Adoption Trends

Data from 2025 show continued growth in digital usage across banking services in Cyprus. Banks are increasing investment in digital infrastructure as customer activity shifts toward online and mobile platforms.

The Future Forbes Realty Global Properties

Plug And Play Cyprus Debuts As A Catalyst For Global Innovation

by THEFUTURE.TEAM

April 9, 2026

International Collaboration For A Digital Future

Plug and Play Cyprus was officially launched at an event held at the Presidential Palace in Nicosia. The initiative is aimed at strengthening collaboration between international investors, startups, and the local innovation ecosystem, expanding Cyprus’s role in global technology networks.

Government Endorsement And Strategic Vision

The event brought together government officials, representatives from Plug and Play Tech Center, and key stakeholders from the technology and entrepreneurship sectors. Dr Nicodemos Damianou, Deputy Minister of Research, Innovation and Digital Policy, said the initiative reflects Cyprus’s approach to attracting high-value investment and strengthening links with global innovation networks. He added that the focus includes building partnerships with international stakeholders and supporting the development of modern production capabilities.

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A Bridge To Global Markets

Minister Ireni Piki said the platform connects international capital with local entrepreneurs and global technology networks. She noted that the initiative is intended to support collaboration, improve access to international markets, and facilitate partnerships that contribute to economic growth and innovation. The platform also reflects ongoing efforts to align Cyprus’s investment strategy with global market dynamics.

Plug And Play Tech Center: A Global Powerhouse

Plug and Play Tech Center, founded in 2006, operates as a global innovation platform and startup accelerator with presence across multiple international locations. The organisation connects startups with corporations, venture capital firms, and public sector entities, providing access to global networks, investment opportunities, and commercial partnerships.

Driving Economic Resilience Through Innovation

Innovation and investment remain key elements of economic development, particularly in a period of geopolitical uncertainty. Plug and Play Cyprus is expected to support startups and SMEs by improving access to funding, international partnerships, and market opportunities, while strengthening links between local companies and global investors.

Noteworthy Achievements In The Cypriot Innovation Landscape

Damianou said Cyprus ranks 25th in the Global Innovation Index and 15th in the StartupBlink Innovation Business Environment Index, while also ranking among the leading ecosystems in Southern Europe. The startup ecosystem recorded 28% growth over the past year, positioning Cyprus among the faster-growing markets in Europe.

Accelerating Market Readiness And Commercial Success

Seena Amidi, Managing Partner at Plug and Play Tech Center, said the platform supports startups in testing their products across different markets. He explained that the approach focuses on market validation and helping companies build commercial partnerships, allowing startups to adapt quickly to different market environments.

Positioning Cyprus As A Global Innovation Hub

Cyprus continues to expand its startup ecosystem, supported by both local and international entrepreneurial activity. Plug and Play Cyprus is expected to strengthen connections between startups and global investors, contributing to further development of the country’s innovation and investment environment.

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