Bank of Cyprus UK choose BOARD to measure customer profitability
BOARD is pleased to confirm their latest client, Bank of Cyprus UK, a division of Bank of Cyprus Public Company Limited, the leading Cypriot banking and financial services group.
Bank of Cyprus Group is the largest financial institution in Cyprus. The UK division of the Bank recognised that in order to continue to efficiently manage its business in the current challenging environment, they needed a solution which would enhance their profitability and risk management. As a result Bank of Cyprus UK chose BOARD to help deliver enhanced profitability analysis across its business. BOARD’s solution will allow the Bank to allocate, manage and analyse revenue and expense across all areas of the business: product, customer, account, accounting officer, business unit and consolidated bank.
Andrew Michaelides, Head of Finance & Risk, comments: “BOARD offers a simple, integrated transfer pricing calculation engine. It provides flexible access to customer profitability information which will allow the Bank to embed customer profitability into its credit decision process and help with stress testing and forecasting. We selected BOARD because it will provide the most cost-effective solution for our needs.”
Dominic Policella, Managing Director at BOARD UK, said: “Understanding true profitability is a key component to any business. We are delighted that Bank of Cyprus UK has chosen BOARD, not only does the product offer the organisation flexibility but it will allow them to easily respond to the fast moving financial services market. This is further proof of the power of BOARD’s visionary and unique integrated solution.”
About the Bank of Cyprus UK
Bank of Cyprus UK has been established in the UK for over 55 years. It is a division of Bank of Cyprus Public Company Limited which is based in Cyprus. Over time Bank of Cyprus UK has evolved into a focused business bank in the UK serving the needs of a diverse customer base of small and medium sized businesses from centres in London (2) and Birmingham, and a Corporate and International office in Central London. To support its business banking activities, Bank of Cyprus UK offers a range of consistently competitive fixed term deposit and savings products. In addition to state of the art telephone and online banking services, business customers of Bank of Cyprus UK also have access to the Lloyds TSB UK branch network for their counter service needs.
For more information about Bank of Cyprus UK go to www.bankofcyprus.co.uk