Jun 22, 2016
Bank of Cyprus selects Dion’s FinCASE for its automation projects

22 June, 2016 Frankfurt: Dion Global Solutions (Dion | BSE: 526927) technology partner to the financial services industry, announced that Bank of Cyprus has chosen its case & control management solution, FinCASE, for the automation of payment investigations and bank-to-bank charges.

FinCASE is a scalable and flexible application suite designed to assist financial institutions with a broad range of requirements from automating specific processes to an enterprisewide solution for tracking of all kinds of issues and queries. The suite has a number of standard applications including the tracking of transactional exceptions and investigations, the automation of bank-to-bank commission charges. In addition, the core solution supports the building and configuration of specific, customised automated workflows for issue and query tracking as well as control monitoring within an organisation.

Bank of Cyprus, the countr’sy largest bank, is embarking on a process to streamline its processes, increase efficiencies and enhance its customer service. As part of the FinCASE implementation project, Bank of Cyprus will automate its incoming and outgoing charge process. Prices and conditions for outgoing claims will be flexible and configurable and invoices will be automatically sent to the receiving bank. All incoming claims will be automatically checked against the original transaction. In addition to automating the charging process, Bank of Cyprus will substitute the manual handling of investigations with a complete electronic case management process supporting SWIFT FIN, fax and email messages.

Mr. Dirk Vesper, Product Management at Dion said, "We are delighted that Bank of Cyprus has chosen FinCASE for its bank-to-bank charging and investigations. High levels of automation is essential for banks to meet today’s regulatory and customer requirements and we are confident that, through FinCASE, we can deliver real value across the Bank of Cyprus business. We look forward to a long partnership with them."

About Bank of Cyprus
Founded in 1899 and headquartered in Nicosia, Bank of Cyprus (“Bank” or “Group”) is the leading banking and financial services group in Cyprus, with significant market shares across all businesses. The Group provides a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance.

The Group has 136 branches, of which 130 are in Cyprus, 1 in Romania, 4 in the United Kingdom and 1 in the Channel Islands. Bank of Cyprus also has representative offices in Russia, Ukraine and China.. For more information, visit www.bankofcyprus.com.cy

Dion Global Solutions
Dion Global Solutions is a trusted global financial technology company with expertise in building solutions for wealth management & asset administration; retail & institutional trading and settlements; FATCA, CRS & other tax compliances; real time payments; bank connectivity & case management; data lifecycle management platform; and GRC audit. With presence in over 17 cities across 12 countries for over two decades, company has built in-depth global fintech expertise to serve the specific and localised needs of financial services firms across the globe. Dion has over 500 clients in more than 85 countries supported by a worldwide staff of nearly 500, including more than 250 in product development. For more information, visit dionglobal.com


CONTACT:
Vani Parmar
Dion Global Solutions
+91-9582888165
+91 120 4894 866
 vani.parmar@dionglobal.com

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