What was the winning formula of your firm that explains why you won?
ERI’s OLYMPIC Banking System empowers private banks and wealth management firms to modernise their business models, swiftly deliver innovative products, and offer personalised digital services, all while effectively managing costs and risks. By achieving these objectives, we support our clients in their digital transformation journey, ensuring the future resilience of their operating models and growth strategies. In today’s dynamic regulatory landscape, maintaining an effective compliance framework presents a significant challenge. It demands a multi-faceted approach to seamlessly adapt to regulatory changes and integrate them into front-to-back processes. Compliance with evolving local and international regulatory requirements often entail time-consuming manual processes.
To address this challenge, a technology platform with sophisticated embedded compliance functionality and an open architecture becomes indispensable. It provides access to a diverse ecosystem of regulatory partners via API connectivity, facilitating our commitment to seamlessly integrate and automate workflows.
ERI continues to invest in the OLYMPIC Banking System, empowering banks to minimise manual processes and reduce the risk of errors by automating key processes such as AML, KYC, fraud sanctions screening, transaction monitoring, and reporting.
We firmly believe that this flexibility is essential for wealth management professionals to remain competitive while effectively mitigating reputational and operational risks.
What are you going to do to remain competitive and stay ahead?
Carefully observing market anticipations for enhanced functionalities forms the foundation for creating solution-oriented tools, empowering our clients to establish efficient and transparent workflows. While simplifying complexity is a key component of this success, it is equally vital for private wealth managers to have real-time access to their clients’ data. This enables managers to proactively understand their clients’ requirements, delivering the personalised approach sought, and empowering decision-making processes through digital tools like our digital banking platform.
Who inspires you, either inside or outside your organisation?
Our approach to consistently investing in the development of novel product functions and features is intricately guided by the invaluable feedback from our clients. Prioritising their operational needs for daily efficiency and innovation is pivotal in ensuring that our solutions align seamlessly with market expectations.
Our clients not only serve as a wellspring of inspiration but also as collaborative partners across all functions. It is through this collaborative effort that we strive to deliver optimal solutions, drawing on the collective expertise and dedication of our team.
But what does a good omni-opti-channel offering look like? The central theme is a cohesive, customer-centric, unified approach. Users need to be able to seamlessly move between channels without encountering friction; whether they interact with the bank in-branch, online, via mobile devices, or through other channels, the transition should be smooth and consistent.
A consistent experience means that customers should receive a cohesive and unified representation of the bank’s brand, whether they are engaging with the bank in person or through digital channels. Efficiency, meanwhile, provides a holistic view of the customer, enabling seamless handoffs between channels and ensuring that customer information is consistently accurate and up to date.
How do you hope your firm will benefit from getting this award?
Winning an award in the compliance category signals to clients, partners, and stakeholders that ERI as a company excels in ensuring that its clients adhere to regulatory standards and best practices by embedding and automating regulatory constraints into workflows.
This award contributes to further build trust, in an industry where compliance is of utmost importance. Finally, this award underlines our commitment to supporting our clients in navigating the complexities of regulatory compliance and driving sustainable growth in the digital era.