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Cyprus Tech Firm To Bring AI Retail Agents To Jakarta

Cyprus-based technology company Powersoft365 will showcase eight AI agents for the apparel, fashion and retail sectors at the Indonesia Retail Summit & Expo 2026 in Jakarta on August 26–27.

The company’s appearance comes just weeks after it joined a Cyprus business mission to Southeast Asia led by Chief Scientist Demetris Skourides. During that visit, Powersoft365 explored Indonesia’s technology ecosystem and potential opportunities for international cooperation.

Eight AI Agents For Retail

At booths i6 and i7, retailers, fashion groups, distributors and technology partners will be able to see Powersoft365’s AI Retail Operating Platform in operation.

The platform connects specialised AI agents with existing enterprise resource planning, point-of-sale, warehouse and e-commerce systems. The technology can analyse business data, forecast demand, recommend actions and automate selected processes.

Among the solutions on display will be ASR, an AI-powered stock replenishment tool that analyses sales and inventory and recommends product transfers between stores. The AI Data Analyst allows managers to query business data using natural language, while the AI Forecasting Agent supports purchasing and inventory planning.

The company will also demonstrate an AI POS Selling Assistant for sales recommendations and cross-selling, an AI Social Media Manager for content and campaigns, and an AI Virtual Try-On service for digital garment fitting.

Other solutions include ApparelBridge, which brings together product information from different suppliers, and an AI Stylist designed to match products with customer preferences.

From Retail Software To AI

Powersoft365 has more than 30 years of experience developing technology for clothing, footwear and fashion businesses, including retailers, chains, franchises and wholesalers.

Its ModaPro platform focuses on fashion-specific requirements such as size and colour matrices, multi-store inventory and real-time stock management. The company is now using that experience to move towards an agentic AI model, where software can understand business conditions, analyse data, recommend actions and assist with everyday decisions.

“AI in retail is not yet a chatbot,” CEO and founder George Malekkos said. “It is AI that understands your business, your products, your inventory, your customers, and your sales, and then helps you take action.”

Expanding Beyond Cyprus

Powersoft365 is positioning its platform as an API-first ecosystem, allowing retailers to connect AI agents with existing systems without replacing their entire technology infrastructure.

Malekkos said the company also wants to demonstrate that technology developed in Cyprus can compete internationally.

The Jakarta exhibition will give potential customers and partners an opportunity to test the technology and explore possible integrations and commercial cooperation.

Cyprus Loan Growth Accelerates To 14% In September

Lending in Cyprus accelerated in September, with the annual growth rate of total loans reaching 14%, up from 11.8% in August. Deposits also recorded a stronger monthly increase, according to the Central Bank of Cyprus (CBC).

Total deposits rose by a net €697.1 million to €60.2 billion at the end of September. Total loans increased by €857.8 million to €29.6 billion, according to the CBC’s October 2026 Monetary and Financial Statistics.

Deposit Growth Strengthens

Deposits recorded a monthly increase of €697.1 million, more than four times the €171.5 million rise in August. However, the annual growth rate remained unchanged at 6.5%.

Deposits held by Cyprus residents increased by €639.9 million. Household deposits rose by €93.8 million, while deposits held by non-financial corporations grew by €373 million. Other domestic sectors contributed a further €173.1 million.

Annual Loan Growth Reaches 14%

Total loans increased by a net €857.8 million in September, compared with €114.6 million in August. The annual growth rate accelerated to 14%, up from 11.8% a month earlier.

Lending to Cyprus residents rose by €470.8 million. Loans to households increased by €52.2 million, while lending to non-financial corporations grew by €110.1 million. Other domestic sectors recorded a larger increase of €308.5 million.

The figures cover deposits and loans held by monetary financial institutions in September 2026.

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