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Bank Of Cyprus Named Best Foreign Exchange Bank in Cyprus for 2025

by THEFUTURE.TEAM

March 11, 2025

The Bank of Cyprus has once again cemented its leadership in the financial sector, earning the title of Best Foreign Exchange Bank in Cyprus for 2025 by Global Finance’s prestigious Gordon Platt Foreign Exchange Awards. This recognition underscores the bank’s commitment to innovation, seamless digital banking solutions, and outstanding customer service.

A Digital-First Approach To FX Services

This accolade follows the successful rollout of eFX Convert, a cutting-edge digital currency exchange service launched in 2024. Designed to provide real-time exchange rates with no hidden fees, eFX Convert reflects the bank’s broader strategy of leveraging technology to enhance financial services. Customers can now convert currencies instantly through the Bank of Cyprus’ digital channels, ensuring efficiency, accuracy, and security in their transactions.

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The service allows real-time conversions in a wide range of currencies, eliminating additional commissions and providing extended trading hours—an offering unique among Cypriot banks. In addition, the bank’s Quick Accounts feature integrates live FX rates, enabling users to open USD or GBP accounts online and execute transactions at preferential rates without foreign exchange commission.

Recognition On The Global Stage

The award was presented at the Global Finance Foreign Exchange and Best SME Bank Awards Ceremony in London on 25 February, where leading financial institutions from around the world gathered to celebrate excellence in FX services. The selection criteria included transaction volume, market share, global reach, customer service quality, competitive pricing, and technological innovation.

The Growing Role Of FX In Corporate Strategy

The Bank of Cyprus’ recognition comes at a time when FX management is more critical than ever. With global trade facing heightened volatility due to geopolitical shifts, fluctuating interest rates, and emerging trade barriers, businesses are placing greater emphasis on sophisticated FX solutions. According to market analysts, FX trading volumes have surged post-pandemic, reaching daily records of over $7.5 trillion in 2024, with projections indicating continued growth.

To stay ahead, financial institutions are increasingly turning to AI-driven analytics, algorithmic trading, and automated FX hedging strategies. As a leader in Cyprus, the Bank of Cyprus is positioning itself at the forefront of these advancements, offering tailored FX solutions that help businesses mitigate risk and optimize international transactions.

About Global Finance

Founded in 1987, Global Finance is a leading authority in international financial analysis, with readers in 188 countries. Its awards set the benchmark for excellence in banking, investment, and financial services. The Gordon Platt Foreign Exchange Awards honors institutions that demonstrate superior expertise in the FX market, ensuring businesses and investors can confidently navigate the complexities of global currency exchange.

By securing this award, the Bank of Cyprus not only reaffirms its dominance in the Cypriot banking landscape but also solidifies its reputation as a forward-thinking financial institution ready to meet the evolving demands of modern FX markets.

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Zendesk Acquires Forethought To Strengthen AI Customer Support Tools

by THEFUTURE.TEAM

March 12, 2026

Zendesk, a company known for customer support software, has announced the acquisition of artificial intelligence startup Forethought. The deal is expected to close by the end of March and represents another step in the growing use of AI to automate customer service operations.

Strategic Innovation In Customer Service

Forethought has been developing AI tools for customer support automation for several years. The company first gained industry recognition after winning the TechCrunch Battlefield competition in 2018, well before the widespread adoption of generative AI tools.

Since then, Forethought has expanded its customer base to include companies such as Grammarly, Airtable, Upwork and Datadog. By 2025, the platform was processing more than one billion customer interactions each month, highlighting the growing role of automation in support operations.

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Pioneering Leadership And Industry Recognition

Deon Nicholas, Forethought’s co-founder and chairman, hailed the acquisition as a milestone in a recent LinkedIn post. According to Nicholas, advances in AI over the past several years have accelerated adoption across multiple industries, particularly in areas that rely heavily on customer communication and service management.

Enhancing Zendesk’s Product Portfolio

The integration of Forethought’s technology is expected to expand Zendesk’s AI capabilities across its product suite. Company executives said the acquisition could accelerate development of several planned features by more than a year. These capabilities include specialized AI agents, systems that improve automatically through usage data and more advanced voice-based customer support tools. Zendesk has previously expanded its platform through acquisitions, including companies such as Zopim and BIME Analytics, which added messaging and analytics functionality to its products.

Implications For The Future

The acquisition reflects a broader shift in the software industry toward AI-driven automation of customer service tasks. Companies are increasingly using AI systems to handle routine inquiries while human agents focus on more complex cases. Zendesk’s move highlights how enterprise software providers are investing in AI technologies to improve efficiency and scale customer support operations as demand for digital service channels continues to grow.