Bahwan CyberTek Acquires STOICS IT’s operations to strengthen its Temenos capabilities

BCT’s Bahwan CyberTek Group (BCT), a global leader in digital transformation solutions, today announced the acquisition of STOICS IT’s operations in Cyprus, UAE and India.

October 03, 2024 . India

Bahwan CyberTek Group (BCT), a global leader in digital transformation solutions, today announced the acquisition of STOICS IT’s operations in Cyprus, UAE and India. This strategic move strengthens Bahwan CyberTek’s capabilities in the global financial services sector, enabling deeper market reach and enhanced service offerings to meet the evolving needs of banks and financial institutions.

STOICS Solutions & Services LTD (STOICS) is a certified Temenos partner, specializing in complex integration projects and offering core banking consulting and implementation services for Temenos products. By integrating STOICS’s skilled teams into its operations, Bahwan CyberTek aims to strengthen its Temenos expertise, driving innovation and operational excellence for its clients. In just two years, Bahwan CyberTek ’s Temenos practice has rapidly expanded into a 150+ member team, supported by a dedicated center of excellence with specialized certifications, proven methodologies, accelerators and industry best practices.

"We are delighted to welcome STOICS and its talented team to the Bahwan CyberTek family. This acquisition presents an exciting opportunity for us, reinforcing our commitment to enhancing our capabilities, especially as the BFSI sector undergoes significant transformation," said Vish Srinivasan, Chief Operating Officer – MENA & India at Bahwan CyberTek. "Their expertise in Temenos implementations aligns perfectly with our vision, and together we can drive even more impactful solutions for our clients."

"Our journey with Temenos, which began in 2022, has been one of strategic growth," noted Madhan Visvanathan, Vice President & Business Head – Temenos Practice at Bahwan CyberTek. "This acquisition strengthens our capabilities, enhancing our ability to provide transformative solutions across the Temenos ecosystem and deliver deeper business value to customers globally."

Andreas Chrysafis, Chief Executive Officer of STOICS, commented, “Aligning with Bahwan CyberTek offers tremendous value to financial institutions focused on digital transformation. This partnership accelerates our shared vision to support banks in achieving their strategic objectives through innovative technology.”

Antonis Theodosiou, Chief Operating Officer of STOICS, added, “STOICS has built a strong reputation in the Temenos space. This acquisition enables Bahwan CyberTek to leverage our expertise, enhancing its offerings and elevating customer experiences for banks globally.”

The agreement marks a significant milestone in Bahwan CyberTek’s growth. The combined resources of both companies will foster innovation, improve operational efficiencies, and accelerate growth.

About Bahwan CyberTek

Bahwan CyberTek is a global provider of digital transformation solutions. A trusted partner for over 1000+ customers, including Fortune 500 companies, we drive innovation through our products, service offerings & strategic partnerships. Established in 1999, Bahwan CyberTek has over 4500+ associates with technical and domain expertise across the Banking & Financial Services, Oil & Gas, Telecom, Power, Government, Banking, Retail and SCM / Logistics verticals. Bahwan CyberTek has delivered solutions in 50+ countries across North America, Europe, Middle East, Africa and Asia-Pacific.

For more information, please visit www.bahwancybertek.com.

MEDIA CONTACT:

vinod.nair@bahwancybertek.com 

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