Bank of Cyprus has gone live with Surecomp’s Swift Ready Gold label Imex trade finance solution on clean guarantees and is piloting the rest of the system modules in its trade finance centre.

Based in Nicosia, Bank of Cyprus, which is the island’s largest bank and ranked in the top 500 bank’s worldwide, has a network of 160 branches on Cyprus with a further 80 branches in Greece. Additionally, Bank of Cyprus has international branches in the UK, Australia and the Channel Islands as well as representative offices in the US, South Africa, Russia and Romania.

The implementation at the Bank of Cyprus, which includes the full suite of Imex trade finance products, is state-of-the-art thin client technology with imaging capabilities that centralise the bank’s trade finance operations and offer standardised professional real time services to all their corporate clients.

Commenting on the selection of Imex by Bank of Cyprus,
Panayiotis Hadjicharalambous, chief information officer at Bank of Cyprus, remarks: “By implementing Imex Thin Client we will achieve our stated goal of utilising state-of-the-art technology to provide world class service to our clients. With more than 300 planned users of the Imex system throughout all our branches, our requirement for implementing a Thin Client solution was fundamental. The advanced functionality of Imex offers us both flexibility, ease of use, superb management information capabilities and a tight control of costs. The optional multi-entity feature of Imex will also offer us a seamless opportunity to expand our operations to our overseas offices in

  • Greece and elsewhere.”


Bank of Cyprus will commence in early April 2003 implementation of NetImex Surecomp’s internet trade finance solution to be used by the bank’s corporate commercial customers.

NetImex allows the user, via a standard browser, to both initiate trade finance transactions and to extract a wide range of inquiries and reports. NetImex is seamlessly integrated with Imex.

Imex has provided the bank with a world-class trade finance solution, which together with NetImex will allow Bank of Cyprus to maintain its competitive trade finance edge for many years to come.

Surecomp is an international software developer excelling in the development of turnkey solutions for the wholesale banking environment with emphasis on trade finance solutions. The company maintains corporate headquarters in Toronto, Canada with international operations jointly directed from development centres in Hoboken, New Jersey, and Kfar Saba, Israel. Additionally the company maintains offices in Hong Kong and Amsterdam. Surecomp has more than 200 installations in 59 countries.