ERI and Swisscom team for hosted core banking tech and ops
Switzerland-based core banking software provider ERI has joined forces with another domestic IT firm Swisscom to offer private-banking and wealth management outsourcing services to banks and financial institutions operating in the Swiss financial centres.
ERI’s Olympic core banking system will be packaged together with Swisscom’s banking operation to offer information technology outsourcing, application management of Olympic and third-party applications, as well as business process outsourcing (BPO).
The latter, ERI says, “will cover the entire outsourcing of payment processing, securities data management, back-office for securities transactions and document digitisation”.
Swisscom already provides these services to over 80 banks in Switzerland, the vendor adds.
For this partnership, Swisscom will provide the infrastructure, host and operate the Olympic core platform (as well as third-party systems).
This is not ERI’s first foray into outsourcing. Back in 2012, it announced plans to provide its fully-outsourced core banking software in Switzerland via a local partner (by that point, ERI had been talking about this option for a number of years). Banking Technology is not aware of that venture’s progress or any takers.
A number of ERI’s Swiss clients already outsource certain services around IT and application management to vendors such as IBM (e.g. managing data centres).
In the UK, ERI has a partnership with Blue Chip, which hosts a “bank in a box” version of Olympic. The offering is aimed start-up and challenger banks. It has one known taker, BFC Bank.
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