COVID19: Cyprus-based fintech can shape post-virus world

2 mins read

By Christiana Lambrou

As the COVID-19 pandemic struck in early 2020, advanced technologies enabled people around the world to remain connected and still be able to perform their day to day activities online.

They could receive education, healthcare, entertain themselves and most importantly connect with their families and friends.

The benefits of online interaction are now visible even to the hardest faultfinders.

What flourished more than ever is that now, more people are conducting business from the comfort of their own space.

They have realised that a whole new world of options is now unfolding in the palm of their hands as access to financial services is affordable, convenient, and safe.

Welcome to the fourth Industrial Revolution, replacing the dot-com era of the third Industrial Revolution in the mid-1990s, which subsequently paved the way for what is now known as financial technologies, also referred to as ‘fintech’.

Even as COVID-19 is expected to eventually fade out, the impact of digital services in our lives will not.

As a growing fintech provider and e-payments system, eCredo has become part of this rapidly growing phenomenon, contributing further with innovative and practical ideas that will help more people and businesses join the globalised economy and take control of their finances with credibility, security and transparency.

A team of experienced specialists and committed enthusiasts of the online banking sector have been working tirelessly for over a year to develop and implement their vision of an electronic payments platform that successfully went live on February 2.

Chief of Operations, Harout Der Bedrossian, said the eCredo platform is, at the moment, focused on transactional accounts which enable individuals and corporates to efficiently transfer money and conduct payments very quickly, and in some cases for free.

For example, transferring money through an eCredo account within the SEPA region (EUR to EUR) there is no charge.

Setting up a personal account through the platform, people can receive their IBAN number within 24 to 48 hours and have their physical Mastercard delivered to anywhere within the EU, again for free.

Another service is the possibility of converting your money into 10 main currencies at any time at competitive wholesales rates using your e-wallets.

Linking up to nine MasterCards (plus primary) to your corporate IBAN or up to three (plus primary) to your personal IBAN are some of the benefits that the company can offer.

Thus, corporates with a medium to a large number of employees scattered around Europe can largely benefit from eCredo services.

The key features of digital financial services are, a) ease of use, such as with tablet devices, mobile phones, desktops, b) scalability, and, c) customer-centric design.

It is more than exciting to watch how digital services are transforming business models and social norms, helping and enabling families and businesses to plan for everything from long-term goals to unexpected emergencies and contribute to their prosperity and resilience.

“We are closely following all developments and innovation in the ecosystem of digitisation of services and internet connectivity, as these are the key factors of our growth and adjustment to our evolving environment,” said Der Bedrossian.

Some of the main goals of the company are to offer alternative financial solutions to individuals and corporates, facilitate access to financial services that used to lie beyond the reach of many citizens and companies and to create trustworthy partners of mutual interest and positive relationships.

Finding ways to positively contribute to our physical and digital environments is the means to a sustainable future which is high on the eCredo agenda.


Christiana Lambrou is Head of Marketing and Business Development www.ecredo.com