Nicosia, Cyprus. Bank of Cyprus and Wealthyhood have launched a co-branded investment platform aimed at making investing more accessible in Cyprus. The app is available to all residents, regardless of whether they are customers of the bank.
Partnership milestone
The launch marks the first major milestone in the strategic partnership between Bank of Cyprus and European wealth technology startup Wealthyhood. It follows the bank’s participation as lead investor in the company’s €6 million funding round announced earlier this year.
Platform access and features
According to the companies, the new Wealthyhood x BoC mobile app and web platform combines Wealthyhood’s digital investment technology with Bank of Cyprus’ customer base and financial infrastructure.
The platform is open to all residents of Cyprus. Existing Bank of Cyprus customers will be able to link their bank accounts instantly to simplify identity verification, fund their investment accounts more quickly, and begin investing with fewer onboarding steps.
Further integration planned
The companies said they intend to introduce additional customer benefits over time while expanding operational and product integration as their partnership develops.
Company statement
“Our partnership with the Bank of Cyprus is far more than a capital investment,” said Wealthyhood co-founder and chief executive Alexandros Christodoulakis.
“It is enterprise-level validation of the infrastructure we have spent years building,” he added.
“Instead of spending years and millions developing an in-house solution from scratch, the Bank of Cyprus has chosen to empower its community immediately with a world-class digital experience,” Christodoulakis continued.
He also said the partnership is intended to encourage long-term investing rather than speculative trading.
“We are not here to launch another speculative day-trading gimmick,” Christodoulakis said.