Digital banking in Cyprus appears to have evolved from an optional service into a fundamental tool for everyday management of citizens’ finances. This is reflected in the Bank of Cyprus’ data for 2025, which show a significant increase in the use of digital channels, with applications and online platforms now serving as the primary means of accessing financial services.

The BoC Mobile App attracted 10,461 new users, bringing the number of active digital customers to 504,000, while QuickPay recorded 249,000 active users, with 881,000 transactions totalling €101.1 million in December 2025. Compared with the corresponding month of 2024, transaction volume increased by 13.7 per cent and transaction value by 17.9 per cent.

Digital usage also expanded into other banking services. In 2025, 32,065 new debit cards were issued digitally, while motor and home insurance registrations through digital channels reached €698,900, marking a 12-per cent increase compared with the previous year. New products such as Fleksy attracted 2,231 customers, with total purchase value amounting to €3.44 million, while the Joey application recorded approximately 9,000 sign-ups and 50,000 monthly card transactions, with a total value of €400,000.

From technology to experience

This development underlines a trend that extends beyond technology. Digital services appear to enhance access to financial tools, support small businesses and contribute to broader economic participation. As Bank of Cyprus CEO Panicos Nicolaou has noted, customer expectations are now shaped by their experience on digital platforms, making banks’ digital adaptation critical.

Digital banking in Cyprus is the new normal

International recognition

Meanwhile, Global Finance, one of the leading international banking and financial publications, named the Bank of Cyprus as the winner of 11 awards at the World’s Best Digital Bank Awards 2025. This includes two awards for Western Europe, namely:

  • Best in Social Media Marketing and Services, reflecting the efforts of the Bank’s dedicated social media teams, and
  • Best in Transformation, recognising the Bank’s leading role in shaping the digital transformation of the Cypriot economy through its B2B and B2C digital economy platform, Jinius.

Analysts underline that digital banking in Cyprus has now become a tool for the daily management of financial affairs and a means of strengthening economic participation, while also promoting social inclusion. The data for 2025 indicate that digital money management is no longer a luxury, but an essential component of a modern economy.