New Research Project- DiFiCy-Digital Transformation and Fintech: Shaping Cyprus’s Economy

The University of Limassol (UoL) proudly announces the initiation of DiFiCy (Digital Transformation and Fintech: Shaping Cyprus’s Economy), a groundbreaking research project funded by the Cyprus Research and Innovation Foundation (RIF) under the RESTART 2016–2020  framework. The project aims to provide robust, evidence-based insights into how digital transformation and financial technologies (FinTech) are reshaping Cyprus’s economic landscape, particularly for Small and Medium-Sized Enterprises (SMEs).

Led by Dr. Snezana Eminidou, Assistant Professor of Economics at the University of Limassol, the project adopts an interdisciplinary theoretical framework, combining digital economy theories, innovation adoption models, and green growth economics. By integrating advanced econometric modeling, machine learning techniques (Natural Language Processing and Natural Language Generation), and mixed-methods research, DiFiCy seeks to quantify how digital adoption influences business competitiveness, productivity, and sustainable economic development.

DiFiCy will explore how digital transformation and financial technologies (FinTech) can boost SME competitiveness, productivity, and sustainable economic growth. By combining surveys, case studies, econometric modeling, and AI-driven analysis, the project will deliver:

✅ A clear map of digital and fintech adoption trends in Cyprus

✅ Evidence-based policy recommendations for regulators

✅ Practical guidelines to help SMEs embrace digital innovation

DiFiCy is implemented by a strong partnership between University of Limassol (UoL), PwC Cyprus, and Unity Growth, combining academic expertise, industry insight, and practical SME case study analysis. Stay tuned for updates as DiFiCy explores the intersection of digital innovation, financial technologies, and sustainable economic growth.

The project is co-funded by the EU within the framework of the Cohesion Policy Programme “THALIA 2021-2027”. [Pr. no. EXCELLENCE/0524/0568]. The content reflects the views of the author(s) only. The European Commission and the Managing Authority of THALIA 2021–2027 cannot be held responsible for any use which may be made of the information contained therein.