Open Banking in Cyprus

What is the current status of Open Banking in Cyprus?

According to a recent speech from the Governor of the Central Bank of Cyprus, there are currently 14 authorised electronic money institutions and 10 authorised payment institutions, while there are 43 pending applications (32 EMIs and 11 PIs).

Interesting stats about OB potential in Cyprus

What will the future of Open Banking look like in Cyprus?

The country is set up for success as it presents a favourable environment for businesses to set up camp. Benefits, such as a low corporate tax rate of 12.5% on profit and dividend participation exemption, make Open Banking a natural progression for the country. The technology will be added to a long list of advantages that make Cyprus an attractive business destination.


Banks

Here is a list of major banks providing Open Banking in Cyprus