FAQs

A core banking system is the central software platform that manages a bank’s customer accounts, transactions, and operations. It can be fully integrated to support end-to-end business activities, from front-office customer interactions to back-office processing, through a centralized, secure, and API-driven architecture. At ERI, we see it as the backbone of financial institutions, enabling efficiency, consistency, and compliance.

A core banking system is essential because it supports seamless transaction processing, secure data management, and allows smart integration with other systems . It allows financial institutions to maintain efficient operations, a high level of customer service, and meet regulatory requirements through a single, centralized platform.

OLYMPIC Banking System is a cloud-enabled, real-time core banking platform built on a modular, service-oriented architecture. It is based on industry standards such as open APIs, STP (Straight-Through-Processing), international and domestic financial messaging (ISO 20022, FIX,). It allows fast deployment and interoperability with fintech ecosystems.

OLYMPIC Banking System supports a broad spectrum of financial institutions across both traditional and specialized sectors. These include:

• Private Banks
• Retail Banks
• Commercial Banks
• Central Banks
• Credit Institutions (Credit Unions, Mutual Banks, Community Banks, Building Societies)
• Mutual/Cooperative Banks
• Microfinance Institutions
• Custodian/Depository Banks
• Fund Administrators

This broad compatibility allows institutions to manage core operations, client services, and regulatory compliance through a unified platform with multi-currency, multi-language, and multi-time zone environments.

ERI’s software platform, OLYMPIC Banking System, offers integrated, front-to-back capabilities that streamline the operations of financial institutions. Designed for wealth management/ private banking, investment services, and a wide range of financial services the platform includes:

Client & Advisory Services:

• CRM with a 360° client view
• Digital Onboarding
• Advisory Solution

Investment & Portfolio Management:

• Portfolio Management System
• Order Management

Digital Banking & Engagement:

• Digital Banking Portal
• Client Reporting

Back-Office & Operational Support:

• Fund Administration
• Custody Services
• Transaction Processing

Transfer Agency:

• Custody Services
• Settlement

Lending & Payments:

• Loan Origination and Servicing
• Savings & Deposits Management
• Payments & Remittances processing

These capabilities enable financial institutions to deliver seamless client experiences, ensure compliance, and manage complex financial operations through a unified system.

OLYMPIC Banking System is built with full alignment to global and regional standards (ISO 20022, PSD2, … ) and regulations (GDPR, MIfID II, LSFin, LEFin  …) and more. It includes encrypted data handling, operational and technical audit trails, identity access management, and continuous monitoring for full regulatory compliance.

OLYMPIC Banking System  is available in cloud-based, on-premises, and hybrid deployment models to meet the diverse needs of financial institutions. The platform can be deployed on public or private clouds such as IBM Cloud, Azure, or AWS, or installed on the client’s own infrastructure.

It is also offered as a SaaS solution, enabling institutions to access their core banking platform without managing in-house infrastructure. This flexibility helps organizations reduce operating costs, accelerate time to market, and align with IT governance requirements.

OLYMPIC Banking System integrates with external systems through secure, RESTful web services documented using the Open API Specification. These APIs are fully compliant with key financial and data regulations, including PSD2, FIDA, as well as frameworks like LUXHUB and Open Banking UK.

Supported integrations include:
Operational Systems: Clearing, Reconciliation, and Trading Platforms
Data & Document Management: ETL systems, Document Management
Compliance & Reporting: KYC, KYT, AML, Fraud Detection, and Regulatory Reporting Systems

This regulatory-aligned, open integration layer ensures interoperability with third-party platforms while supporting automation, data protection, and regulatory compliance.

ERI offers comprehensive support, including 24/7 technical assistance, dedicated account management, and on-site or remote training programs. Training covers both technical and functional areas to ensure users and administrators can efficiently operate the system.

Yes, OLYMPIC Banking System is built on a modular and parameter-driven architecture, allowing for granular customization. Financial institutions can tailor workflows, user interfaces, products, reports, fees & conditions, and accounting rules without requiring development or scripting, ensuring long-term maintainability and upgrade paths.

The platform is designed to scale both vertically and horizontally, supporting the needs of small institutions as well as large multinational banking groups. It can accommodate growing user bases, high transaction volumes, and expanding service offerings without performance degradation.

OLYMPIC Banking System includes an integrated digital banking portal that supports online and mobile banking, secure messaging, and personalized dashboards.

Yes, it is multi-language, fully UTF-8 and RTL compliant, multi-currency, and multi-time zone configurations out of the box, enabling international operations and seamless service delivery across jurisdictions.

OLYMPIC Banking System is based on open, service-oriented architecture (SOA) and supports modern standards like OpenAPI Specification. It uses industry-leading databases and application servers, and is continuously enhanced to align with emerging technologies and best practices.

ERI invests significantly in R&D and works closely with clients, partners, and regulators to evolve the platform. Continuous updates address new regulatory requirements, technological advancements, and client feedback, ensuring long-term system relevance.

ERI offers flexible licensing models, including perpetual licenses, subscription-based SaaS, and hybrid options. Pricing is typically based on institution size, user numbers, functional coverage, and deployment model. ERI works with clients to tailor a solution that meets functional and budgetary needs.

The system can integrate ESG scoring tools, sustainable investment frameworks, and reporting dashboards. It supports data collection and reporting aligned with ESG regulations and frameworks, helping financial institutions align with sustainable finance goals.