CDB to invest in new IT system

The Cyprus Development Bank, recognizing that technology is a critical factor in its future growth, has taken a strategic business decision to invest in state-of-the-art IT systems, which will allow it to enhance its flexibility in addressing the rapidly increasing and changing needs of its customers and improve productivity and cost-efficiency.

The Bank is glad to announce that after a rigorous evaluation process, it has selected i-flex solutions’ FLEXCUBE as its technology platform for its banking operations. FLEXCUBE is expected to streamline the Bank’s operations in the areas of lending, deposits, trade finance, treasury, security trades, fund transfers and Internet Banking. IBM Corporation (Cyprus Branch) is the selected vendor for delivering the whole underlying infrastructure.

The UK-based International Banking Systems (IBS) Publishing Ltd has ranked FLEXCUBE as the world’s No. 1 selling core banking solution for the last four years.

The modern, scalable and reliable technology solutions from i-flex and IBM will enable the Bank to offer value added services and products and they will provide a solid foundation for supporting the Bank’s expansion plans. The FLEXCUBE deployment will allow the Bank to deliver enhanced and effective service to its customers, enrich its product offerings and increase customer base.