The Bank of Cyprus (BoC) has signed a strategic partnership with Avenga for the co-development of a new digital platform leveraging Agentic AI and the full suite of Microsoft Azure AI services, marking a further step in the bank’s long-term digital transformation journey.

The initiative forms part of the bank’s multi-year cloud strategy, developed in close cooperation with Microsoft, and is aimed at accelerating digital modernisation, strengthening resilience and enabling more intelligent and personalised customer services across all touchpoints.

Within this framework, the BoC officially positions itself once again at the forefront of innovation, officially unveiling its Conversational Banking initiative, a transformative project that will redefine how customers interact with the Bank.

The new platform will allow customers to use natural language to interact directly with the bank via the BoC mobile app. Through conversational, AI-powered interactions, users will be able to perform transactions, access services, receive guidance and obtain support, aligning closely with the bank’s customer-centric strategy.

At the same time, the bank stressed that the highest standards of transparency, privacy and security will be embedded across the platform, ensuring customer trust and safety in every interaction.

Despite the strong integration of AI, human support will remain a fundamental element of the customer experience, with trained call centre agents continuing to assist customers, supported by internal AI assistants that enhance speed and efficiency.

Commenting on the partnership, George Kousis, Executive Director, Technology and Operations at BoC, said the strategic collaboration with Avenga and Microsoft “marks a significant milestone in our journey to transform the customer experience”.

He said the initiative “will revolutionize how our customers interact with the bank by introducing a conversational interface that allows them to transact and access services seamlessly through natural language on our mobile app”.

Referring to the use of AI, Kousis said, “Leveraging the latest advancements in artificial intelligence, including AI Agents, we aim to deliver personalized, best-in-class service while maintaining the highest standards of transparency and security.”

At the same time, he stressed that “human support will remain a cornerstone of our approach”, noting that “our call center agents, empowered by internal AI assistants, will continue to provide the same exceptional service, now even faster and more efficiently”.

He added that the partnership reflects the bank’s “unwavering commitment to a customer-centric strategy and to shaping the future of banking”.

Dimitris Chouchoulis, Chief Transformation Officer at BoC, said banking is changing because people are changing, adding: “Today, customers want things to be easy, fast, and personal.”

He said that through the new partnership with Avenga and Microsoft, “we’re making banking as simple as a conversation, anytime, anywhere”, describing the initiative as “not just new technology; it’s a new era that puts people first, adapts to their lives, and anticipates their needs”.

“We’re building the future, and it starts now,” Chouchoulis added.

From Avenga’s side, Director of Business Development for Banking and Financial Services Mike Crosby said the partnership represents “more than a technology initiative, it’s a chance to reshape how people connect with their bank”.

He said that together with BoC and Microsoft, Avenga is building a conversational banking platform that “doesn’t just respond to customers but truly understands them”, describing the project as “human-centric, deeply secure, and powered by Agentic AI”.

Crosby added that “this is the kind of work that moves the industry forward”, saying Avenga is proud to bring its expertise to a project that will “set new standards for digital banking in Europe and beyond”.

He described the collaboration as “an amazing opportunity to build something that will improve digital banking today, redefining what people expect tomorrow”.

Meanwhile, Yanna Andronopoulou, Microsoft General Manager for Greece, Cyprus and Malta, said the collaboration with BoC and Avenga is “leveraging the power of Agentic AI and Microsoft Azure to create seamless, secure, and truly human-centric banking experiences”.

Andronopoulou concluded that the partnership “not only accelerates digital transformation in the financial sector but also sets a new standard for customer engagement, trust, and innovation in Cyprus and beyond”.