Cyprus’s financial sector must transform itself to respond to the demands of constant change, Phileleftheros Media Group CEO Tasos Anastasiou said on Tuesday as he opened the Forbes Cyprus Next Gen Banking & Fintech Summit in Limassol.
Anastasiou said the key question for the summit was whether Cyprus, as a small island, had the capacity to develop a competitive financial technology ecosystem and attract fintech businesses. He described the transformation of the financial sector itself as an equally important issue.
He cited the Bank of Cyprus, which he called the country’s most historic financial institution. He said its lasting success rested on its readiness to keep evolving, which had secured its leading role.
The summit’s agenda includes the fintech revolution, the impact of artificial intelligence, digital assets and new forms of payment. Anastasiou placed particular emphasis on trust and security, which he described as prerequisites for any digital development.
London Business School professor Costas Markides will deliver the keynote address. He will analyse the technology revolution in the financial sector and what it means for the future of banking.
Anastasiou said Forbes Cyprus and Phileleftheros were bringing this discussion to a conference of this kind for the first time. Taking part are state representatives, bankers, investors, heads of technology companies, industry professionals and academics.
Speakers and delegates have come from the United States, the United Kingdom, Switzerland and other countries in Europe and the Middle East. Anastasiou said this international presence gave the event the weight and standing a conference of its level required.
