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We may not have to deal with inter-dimensional post-trade, just yet. However, a recent Citi Securities Services survey reported that close to 90 percent of respondents expect their local settlement cycles to shorten to T+0 or T+1 within the next five years. In the current T+2 world, once instructions are sent to custodians then, if there is a problem, it will become apparent the next day and may still be corrected and settled in time. In contrast, T+1 actually requires a T+0 approach, underpinned by technology to support continuous real-time processes, as the window for reconciling and settling trades is compressed to same-day. Here, ERI’s Alan Goodrich explores the path to implementing a technology solution that meets the future; everything, everywhere, all at once requirements.
These days we hear a lot about Infrastructure-as-a-Service, Software-as-a-Service, all the way through to Banking-as-a-Service. Unfortunately, there is no one-size-fits-all solution for every institution, is there?
The goal of digital and digital transformation is to retain profitable clients and attract new clients
ERI’s mission is to deliver a unique technology solution, OLYMPIC Banking System, that constantly evolves and adapts to meet the critical requirements of financial institutions and responds to the constraints and challenges of the market. Having successfully delivered more than 400 implementations in over 60 countries, ERI has established deep expertise by continuously envisioning and incorporating future requirements while ensuring the efficiency of the existing product for our clients’ day-to-day use.
ERI constantly adapts its suite of solutions to reflect and respond
to the challenges faced by banks. Diversification of products and
services and reducing time-to-market are key to ensuring new
sources of revenue. Responding to new customer segments and
needs is an enormous challenge. The only way to face it is the capacity
to rely on a digitally enabled platform that facilitates agility
and connectivity thanks to an open architecture. An enhanced and
personalised customer experience will be the backbone of client
acquisition and retention.
ERI’s mission is to deliver a unique technology solution, OLYMPIC Banking System, that constantly evolves and adapts to meet the critical requirements of financial institutions and responds to the constraints and challenges of the market.
The UK private wealth industry has seen its consolidation trend strengthen in 2022, and 2023 looks to be no different. Banks have been very careful in choosing priority areas for investment. In this respect, technology is now seen as a central element of a bank’s growth strategy, but also as a key differentiator in a highly competitive environment. Leveraging technology to optimise operational efficiency and manage costs is essential to building a robust and healthy bank for years to come.
Die Bank der Zukunft – Welche Lösungen gibt es, um die Agilität zu entwickeln, die die Banken brauchen werden?
Das Auftreten neuer Marktteilneh-mer in der Bankenwelt, auch wenn ihr Marktanteil derzeit nur einen winzigen Bruchteil des Finanzsek-tors ausmacht, hat die traditionellen Banken dazu gezwungen, Überle-gungen zu ihrem Geschäftsmodell und zu technologischen Alternativen anzustellen.
Customer centricity has always been a focus for wealth managers. But, as this digital age unfolds and a new generation of customers takes the reins, what customer-centric means is changing. How can modern wealth managers adapt while still achieving profitable growth?
Jean-Philippe Bersier, Director – Business Development, ERI, talks to WealthBriefing, on ERI’s accomplishments this year.
2022 is coming to a close. A new year with fresh opportunities awaits. Technology forms an integral part of financial services and now, more than ever, it has become a key market differentiator enabling firms to attract new business, retain profitable customers, leverage new ecosystems and introduce fresh revenue generating digitally-delivered products and services.
Conversations are at the centre of any client relationship. The need for easy, flexible and transparent ways to interact are driving the digital transformation and will fundamentally reshape the banking industry. While internet banking and omnichannel interactions have created a world of convenience, clients are indicating that something is missing: personal interaction.
With a progressive strategy in place, an institution can more easily flex its service model to meet the future demands on the business.
In order to remain profitable and relevant, the providers of private banking and wealth management products and services are having to reinvent themselves as part of their digital transformation journey. Alan Goodrich, at ERI, suggests that becoming the client’s Ambassador of Quan holds the key.
According to recent statistics, despite measures like the EU’s CSDR regulations that were intended to improve settlement efficiency, the rate of failures has actually increased, not come down. The US, Canada and India all have firm plans for the introduction of T+1. The pressure is mounting on Europe to follow suit. As a result, the topic is being given an increasing amount of airtime and is the subject of intense discussion. Regulation, so far, does not appear to be solving the issue. So, asks ERI’s Alan Goodrich … what will?
ERI is the developer and supplier of the OLYMPIC Banking System – a fully-integrated, front-to-back, parameter-driven digital platform supporting all types of financial service providers to streamline their core business activities. The solution provides a complete set of decision-making, transaction processing and control tools to support domestic and inter – national financial services. It comprises a functionally-rich, client-centric, integrated system with a wide range of front-, middle- and back-office activities across the entire lifecycle.
Two years ago, only a few crypto enthusiasts had heard of NFTs. By the end of 2021, the market was already worth around $41 billion, according to data from Chainalysis.
ERI SUPPORTS ITS CLIENTS IN DIGITISING THEIR CORE BUSINESS TO SECURE THEIR STRATEGIC GROWTH OBJECTIVES
Simon Wong, Regional Director, ERI, talks to Tom Burroughes, Group Editor at WealthBriefingAsia, on its accomplishments this year.
Géraldine Chardiny – Au cœur des services financiers, la maîtrise des technologies devient un enjeu majeur. La transformation du marché bancaire français passe de plus en plus par une architecture ouverte, pour une gestion facilitée, et un recentrage sur le cœur du métier de banquier, le conseil.
Crypto-speak and fintech buzzwords – the financial services technology space is awash with either new vocabulary or new use cases for existing concepts. The reality is that much of the jargon used by vendors to hype up technology is simply intended to make it sound or look exciting and new, when often the truth is something else entirely.
Paul Driver, Sales Manager at ERI, talks to Tom Burroughes of WealthBriefing about what it takes to make the complex simple.
What happened when, as a child, you played in a sandbox? It generally ended up in tears with everyone and everything needing a thorough cleaning! Some core system suppliers promote having a sandbox as being a shortcut to evaluating whether their solution will meet potential users’ requirements. However, a bit like the childhood sandbox experience, there is a risk that taking such a shortcut will not end in the happy smiles anticipated.
SACCOS are digitising their financial services to future-proof their growth and boost their business
SACCOs are accelerating their digitisation to respond to a growing need for financial inclusion.
Simon Pilgrim and Paul Driver discuss how the Bottomline Technologies and ERI partnership can help the securities market automate, secure, and simplify their reconciliations and data management processes
Jean-Philippe Bersier, Sales Director at ERI, explains to WealthBriefing’s Tom Burroughes his firm’s formula for enduring success.
For many in the core banking systems space, the “build versus buy” issue was thought…
From Mass Affluent to HNWIs how to create experiences that cost-effectively support the next generation of wealth.
Aside from the obvious challenges of living through a pandemic, the last 18 months have offered a period of reflection for many businesses…
Reducing operational and compliance risks in asset servicing through process digitalisation and data integration
Despite the macroeconomic uncertainties, the asset management industry has been enjoying healthy AUM growth for the past few years…
The post-trade world is undergoing some major changes and transformations. Besides the impact of Covid-19, the past year…
Hybrid is a word that may well end up defining this period in history.
The ESG tributary is fast becoming the mainstem when it comes to investment flows. Technology will play a pivotal role in supporting this transformation…
For a more in-depth view of the winners of The WealthTechAsia Awards 2021 please read the new Acclaim publication….
Hybrid is a word that may well end up defining this period in history. Hybrid cars, hybrid working (thanks to the COVID-19 pandemic), hybrid…
Are you flexible enough for some post-trade limbo dancing? For the securities industry, T+2 is already feeling too high and the post-trade…
A lot is said (and rightly so) about the growing needs and expectations of clients: the daily demands for speed and flexibility to support their…
Private Banking is facing perhaps its greatest challenge. It is estimated that Gen X and Gen Y will inherit €8 trillion…
Agile versus waterfall: The conundrum that continues to tax the minds of project and program managers…
Over the last decade, Financial inclusion can be characterised as a means to an end. By ensuring access for households and small and medium enterprises to safe, essential financial services, financial inclusion is a key facilitator of inclusive economic growth. Not only does financial inclusion promote regional economic objectives, it is also considered as an enabler for 7 of the 17 sustainable development goals defined by the United Nations Department of Economic and Social Affairs.
This whitepaper explores emerging core banking trends and how technology innovations are reshaping the industry.
REDUCING OPERATIONAL AND COMPLIANCE RISKS IN ASSET SERVICING THROUGH PROCESS DIGITALISATION AND DATA INTEGRATION
This paper makes the argument that the root cause of these challenges lies in the fragmentation of data from operational processes that are for the most part disjointed, and to overcome this problem, asset servicing firms must look…
This whitepaper explores the technologyinnovations in the Wealth Management (WM) and Private Banking (PB) industry, identifies key trends and provides an outlook on the way forward for the industry on digitising processes in Tier 2-3 banks.
“The custody services industry is highly concentrated, with intense price competition favouring large players…
Over the last few years, the industry has witnessed several events that have accelerated …
The Core Banking System is considered as being the heart of every bank.
The Euro region experienced a positive growth of 2.4% in 2017.
Financial institutions have long been accumulating precious data about customers …
Bankinter Luxembourg offers its clients access to the main financial centre of the euro zone, Luxembourg.
Andbank had been using OLYMPIC Banking System, ERI’s comprehensive core banking system, for many years, and had also successfully and efficiently upgraded it during that time. Andbank turned to ERI as a trusted partner to discuss the potential features of an enhanced portfolio management system.
IBSi FinTech Journal March 2022 – Stern International Bank is a US “state bank” as defined in Section 3 of the U.S. Federal Deposit Insurance Act …
Cidel Group is a Toronto, Canada-based international financial services group with several subsidiaries…
BFC Bank, part of the Bahrain-owned BFC Group, was launched in the UK in March 2018.
ERI enhanced its core banking system to further support a software as a service (SaaS) model…
Wyelands Bank retains technology partner Blue Chip Cloud to underpin its rapid growth, …
It was meant to be a broader panel, but few speaker candidates could relate to the topic, and many pros are not yet familiar with the incoming Digital Operational Resilience Act (DORA). Euroclear Finland’s Kati Honkajuuri-Kokkonen and ERI’s Alan Goodrich shared their insights with the audience of PostTrade 360° Helsinki 2023.
Jean-Philippe Bersier, Director of Sales Marketing at ERI, shares his inspiring journey and sheds light on ERI's mission to revolutionize banking. Discover how ERI's innovative technologies, like The OLYMPIC Banking System, and its customer-centric approach are shaping the future of banking.
Nad Cyrus Vice President IT explains how Cidel has benefited from the implementation of OLYMPIC Banking System in its journey towards digital transformation.
Spécialiste du logiciel bancaire depuis plus de 30 ans, ERI développe et distribue un progiciel de gestion bancaire intégré : OLYMPIC Banking System. La fintech promet ainsi de fluidifier les processus opérationnels de ses clients.
As regulators crack down on greenwashing, asset managers find themselves navigating a tricky new landscape while trying not to trip up. Therese Niklasson – Global Head of Sustainable Investment at Newton Investment Management – sees the industry needing an overhaul of how responsibility is shared and accountability taken. At PostTrade 360° Stockholm, she joined discussion with Sustainalytics’ Benjamin Schofield and ERI’s Alan Goodrich.
Watch the new episode of ERI TALKS: "Conversational Banking puts clients first - loyalty will follow" where Javier Puga, EVP Marketing at Unblu gives us insights on how banks can automate, secure, and simplify their clients’ interactions to best create a meaningful and connected customer experience at each step of their journey.
So far, post trade infrastructures have played a humble role in the budding sustainability transition. This Wednesday panel at the PostTrade 360° Helsinki conference dug into whether central securities depositories could play a supportive role as data intermediaries, as reporting requirements stack up both for issuers and investors.
With 27 member nations in the EU, it stands clear that a shortening of the standard settlement cycle by a day can be nowhere near as smooth and quick as in the US, with its single CSD. A panel at the PostTrade 360° Amsterdam conference discussed what could be a path forward.
As part of the 2022 WealthTech Landscape Report, Anthony Bream, Global Head of Partnerships at The Wealth Mosaic, interviews Paul Driver, Business Development UK at ERI, also known as the solution provider of the Olympic Banking System. In the interview, Paul discusses the current and future goals of ERI, and how they plan to adapt as the industry changes to ensure that they continue to support the growth of their diverse clientele.
Charles NGUEUGA, Head of Business development – Africa chez ERI, a expliqué à Digital Business Africa les avantages de la solution OLYMPIC Banking System pour les banques et établissements de microfinance.
ERI talks to Anthony Samé CEO & Founder of ST DIGITAL about trends in banking technology in Africa.
How the digital payments landscape is evolving and what’s coming next in PayTech
Sustainability is complex, and as requirements get regulated many questions arise across investment operations.
Faster, cheaper and less risky … the benefits of making securities digital on distributed ledgers makes Deutsche...
Meeting the Rising Tide of Demand and Opportunity in the Middle East
31 August 2021
The state of the private wealth management industry in the GCC will be debated in depth at the August 31 Hubbis Digital Dialogue event...
17 June 2021
10 June 2021
Private Banking is facing perhaps its greatest challenge. It is estimated that Gen X and Gen Y will inherit €8 trillion from their Baby Boomer...
11th May 2021
PIMFA Roundtable Discussion
Michael Cahill - Paul Driver
11 March 2021
Private Banking is facing perhaps its greatest challenge. It is estimated that Gen X and Gen Y will inherit €8 trillion from their Baby Boomer...
CHALLENGES FOR TIER 2 / TIER 3 BANKS:Be flexible and digital ...