New wealthtech deal for ERI in Mauritius

New wealthtech deal for ERI in Mauritius

Mauritius-based Warwyck Private Bank has signed a deal with Swiss banking software tech vendor ERI to implement its Olympic core banking system.

Warwyck Private Bank has been in business since mid-2014, and is one of the first banks in the country hold a licence as an exclusively private banking and wealth management financial institution.

“The bank intends to offer its clients high quality services based on the Swiss model,” ERI says.

It will replace “several legacy systems” with Olympic, which “will support the entirety of the bank’s business lines”, including portfolio management, fund management and digital banking, the vendor says.

Pascal Dulau, CEO of Warwyck Private Bank, says ERI was chosen due to its international experience and the “wide functional coverage” of its flagship platform.

This is the second deal for ERI in Mauritius, Banking Technology understands. A couple of years ago, AXYS Group signed for Olympic for its wealth/investment management operations.