Swiss banking software maker ERI Bancaire has agreed a deal with IBM for the use of the giant’s cloud offering.
ERI Bancaire, which is the maker of the Olympic core-banking software, will use the IBM Public Cloud for its services, according to a statement released on Tuesday. Users of Olympic will get a browser-based core-banking system, which also will give them access to further technologies. The software-as-a-service (SaaS) approach stands in contrast to the classic system of installing the IT in situ.
Moving the software onto the cloud means that private-banking clients can save money. They adjust the size of the infrastructure needed to changing needs and demand.
Private Banks Among Clients
ERI has software installed at banks in Geneva, Zurich, Lugano, London, Luxembourg, Singapore and Paris and has 300 companies under its wings worldwide. In Switzerland, ERI competes with the core-banking systems provided by Avaloq, Finnova, Temenos and TCS.
The users in its home country are mostly to be found among the private banks. In 2016, the company had a market share of 5.5 percent, measured by the number of staff.
Pole Position for IBM Cloud
IBM looks increasingly well-positioned in the current surge of companies to the cloud-based infrastructure. It is currently developing the Swiss Banking Cloud in cooperation with Avaloq, the No. 1 among Swiss banking IT firms.
