Armenia’s Ardshinbank selects ERI’s Olympic Banking System for securities and forex
Ardshinbank, a commercial bank in Armenia, has selected Swiss vendor ERI’s Olympic Banking System to enhance its operations across securities and forex.
Ardshinbank taps ERI for Olympic Banking System
Founded in 2002 and headquartered in Yerevan, Ardshinbank provides a wide range of banking services to both individuals and businesses, including mortgages, accounts, student loans, time deposits, payment cards, business loans and investment services covering custody, brokerage and forex.
It’s this latter provision where its new partnership with ERI is most concerned, with the adoption of the vendor’s Olympic Banking System offering to help support the bank’s operations in securities and traditional forex products.
ERI says the system will cover the end-to-end operational chain for these services, including the administrative burden, by leveraging functions for securities transactions, delivery management, settlement, custody, accounting and cash management.
On top of this, Ardshinbank has signed to integrate the vendor’s tech to strengthen its retail mobile app. The app currently supports the likes of contactless payments, money transfers, tax services and financial analytics, with the bank previously coming together with Visa in April 2021 to launch an accompanying e-wallet. The integration of ERI’s platform is expected to complement these existing features with transfer and payment orders, securities orders and forex orders.
Recent adopters of ERI’s Olympic Banking System include Proven Group in the Caribbean, Development Bank of St. Kitts and Nevis, and private bank Banque Richelieu Monaco, among others.
