BGL BNP Paribas centralises securities ops on ERI’s Olympic core system
BGL BNP Paribas, a Luxembourg-based subsidiary of BNP Paribas, has gone live with a new centralised hub for securities processing. The technology that underpins it is the Olympic core banking system, supplied by banking tech vendor ERI.
ERI is a long-standing supplier of core banking software to BNP Paribas’ wealth management and private banking businesses. Olympic supports the group’s back-office operations across the globe, from the US, to Europe, to the Middle East and Asia Pacific.
Switzerland-based ERI is one of the oldest specialist suppliers of private banking software to banks worldwide, having been in business since the late 1980s.
It has around 150 customers, including major names such as JP Morgan Chase, KBC Securities, SG Hambros and UBS.
Among recent takers of Olympic are BFC in the UK (the bank is awaiting a licence), Banca Consulia in Italy and Natixis in Luxembourg.
Further afield, customers include Cidel in Canada and the Caribbean, Axys Bank in Mauritius, La Poste de Côte d’Ivoire in Ivory Coast, Mandiri Sekuritas in Indonesia and Nepal’s central bank, Nepal Rastra Bank.
To boost its European market share – that is vigorously being contended by the likes of Temenos and Avaloq – ERI has recently formed a new partnership with Capgemini. This will see the launch of a shared services centre for private banks and wealth managers in Europe. ERI will provide Olympic, whilst Capgemini will bring to the table its expertise in infrastructure and application management services and business process outsourcing (BPO).