Bank of Cyprus selects FinCASE, a product of Dion Global Solution

Bank of Cyprus has selected Dion Global Solutions’ (Dion) case and control management solution, FinCASE for the automation of payment investigations and bank to bank charges. The share price of Dion has increased by 14.79 per cent on bourses; and is trading at Rs 75.25 on an intraday basis.

FinCASE is a scalable and flexible application suite designed to assist financial institutions with a broad range of requirements from automating specific processes to an enterprise wide solution for tracking of all kinds of issues and queries. The suite has a number of standard applications including the tracking of transactional experience and investigations.

According to Dion’s management, high levels of automation are essential for banks to meet today’s regulatory and customer requirements. The company is confident that through FinCASE, it will deliver real value across the Bank of Cyprus business. It is also looking forward to a long partnership with the bank.

On the financial front, Dion’s revenue has declined by 20.69 per cent to Rs 230 crore in FY16 as compared to previous fiscal year. The company has posted a net loss of Rs 86.68 crore in FY16 against net profit of Rs 3.92 crore in FY15.

Dion Global Solutions is a financial technology company. The company provides a broad range of solutions that meet specific business needs across the financial markets. It offers business solutions such as portfolio management, institutional trading, retail trading, post trade, risk compliance and regulation, Foreign Account Tax Compliance Act (FATCA) and tax reporting, data management and workflow, client management, corporate action processing, payments and financial messaging, and financial research and information. Dion has more than 500 clients in 88 countries across the global financial markets.