Development Bank of St. Kitts and Nevis renovates core with ERI’s Olympic Banking System
Development Bank of St. Kitts and Nevis (DBSKN) has tapped ERI for its Olympic Banking System as it aims to expand its business in the Caribbean.
Development Bank of St. Kitts and Nevis in core banking system revamp with ERI
Founded in 1981 and based in the island’s capital of Basseterre, DBSKN seeks to inspire economic growth and commercial development through the provision of financial and advisory services, including loans and mortgages, to business ventures and programmes concerning industry, agriculture, education and housing.
Following in the footsteps of Banque Richelieu Monaco, Milleis Banque Privée and Bank of China Luxembourg Branch, the Caribbean development bank will implement Olympic on a Software-as-a-Service (SaaS) basis.
The initiative will be specifically tailored to meeting the funding and growth needs of small and medium-sized business (SMBs), which might otherwise lack the capability or track record to access funding through more traditional means.
The Olympic Banking System is to be deployed at DBSKN via a Microsoft Azure SaaS platform, and will be managed by ERI’s hosting partner, TAG Consulting, which is based in San Juan, Puerto Rico.
The bank’s future growth endeavours will be backed by ERI’s “local and international expertise” and its product’s “extensive functional coverage”, according to Jean-Philippe Bersier, the vendor’s director of sales and marketing.
Adding to this, Laurinston Matthew, the development bank’s CEO, anticipates that its upgraded core will enable it to “attract foreign banks and sovereign wealth funds” and encourage further investment into the island’s development projects.
He also says that the integration will benefit its clients by way of providing “easy access to their loan and account information” in tandem with “a new enhanced digital user experience”.
