Cyprus banking and fintech future takes centre stage at Limassol summit

The future of banking, artificial intelligence and financial technology in Cyprus will come under discussion on Tuesday at the first Forbes Cyprus Next Generation Banking & Fintech Summit, bringing together more than 250 participants at the Four Seasons hotel in Limassol. The event will examine how Cyprus can strengthen its position as an international financial services centre while responding to technological developments and changing regulatory requirements. President Nikos Christodoulides is expected to address the summit, which will bring together government officials, regulators, banking executives, fintech companies, investors and technology specialists. International speakers and industry representatives from the US, United Kingdom, Switzerland, Europe and the Middle East will also take part. The programme centres on four discussions covering the competitiveness of Cyprus’ financial sector, artificial intelligence, digital financial infrastructure and cybersecurity. The opening session, How a Small Island Wins, will examine how Cyprus can attract investment and international financial businesses despite its relatively small domestic market. It will focus on regulation, infrastructure, access to skilled workers and areas where the country could develop a competitive advantage. Meanwhile, AI and the Reinvention of Mainstream Banking will explore the use of artificial intelligence in customer service, risk management, data processing and fraud prevention, alongside questions of oversight, security and responsible adoption. The third discussion, New Finance / Stack, will examine digital assets, payment systems and financial infrastructure, including opportunities for cooperation between traditional banks and fintech businesses. Payments will be a particular area of interest, having been identified by Markides as a potential source of growth for Cyprus. Finally, Trust and Security in Digital Finance will address cybersecurity, data protection and consumer confidence, as financial institutions increasingly rely on digital services. The summit aims to identify opportunities for Cyprus to attract investment, develop its fintech industry and strengthen cooperation between established financial institutions and technology companies. The official summit programme also confirms that Central Bank of Cyprus (CBC) governor Christodoulos Patsalides and Deputy Research Minister Nicodemos Damianou are among the participants. The president’s address is scheduled for 9.45am, according to the Presidency.