{"id":554475,"date":"2024-01-03T10:29:20","date_gmt":"2024-01-03T09:29:20","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=casestudy&p=554475"},"modified":"2024-01-03T10:29:20","modified_gmt":"2024-01-03T09:29:20","slug":"eri-bancaire-implements-portfolio-management-system-for-andbank","status":"publish","type":"casestudy","link":"https:\/\/ibsintelligence.com\/casestudy\/eri-bancaire-implements-portfolio-management-system-for-andbank\/","title":{"rendered":"ERI Bancaire implements Portfolio Management System for Andbank"},"content":{"rendered":"

Overview<\/strong><\/p>\n

Andbank initiated the project to upgrade its portfolio management system in response to several key needs. First, there was a necessity to address increasing costs associated with the existing externally-provided portfolio management system. Additionally, as the bank underwent corporate expansion, it faced challenges related to interface frictions between the portfolio management system and the core banking system. Technological and regulatory demands further underscored the need for a system upgrade. The primary objective was to simplify operations and enhance the system\u2019s functionality to generate faster and more comprehensive analytics for Andbank\u2019s private banking clients. The upgraded system needed to seamlessly interface with the bank\u2019s e-banking and mobile banking solutions. <\/p>\n

Andbank chose ERI as the partner for this critical project based on a combination of trust, industry experience, and the proven success of their existing collaboration. Andbank had a longstanding relationship with ERI, having used their comprehensive core banking system, the OLYMPIC Banking System, for many years. The decision to upgrade the portfolio management system was a strategic one, and ERI was selected for its ability to adapt and enhance the existing OLYMPIC Banking System model to meet the specific needs of Andbank. <\/p>\n

Familiarity with ERI\u2019s technology, coupled with the trust built over 28 years of partnership, played a crucial role in the decision-making process. Andbank\u2019s confidence in ERI\u2019s capability to consult, communicate, and deliver solutions was paramount, especially considering the critical nature of the portfolio management system as one of the most important and powerful tools in the bank\u2019s daily operations. <\/p>\n

Implementation Process<\/strong><\/p>\n

The implementation process of upgrading Andbank\u2019s portfolio management system with the Olympic Banking System (OLYMPIC Banking System PMS) was a meticulously planned and executed endeavor. Commencing in 2019, the project unfolded with Andbank assembling a dedicated internal team of specialists. Despite facing considerable operational constraints imposed by COVID regulations, the teams successfully navigated through an ambitious eight-month timetable for design, construction, and implementation. Key components, such as global order generation, rebalancing of strategies, and portfolio analysis, were seamlessly transitioned, while the reporting element underwent significant enhancements, including a new global Value at Risk (VAR) analysis, asset allocation capability, and corporate action processing across jurisdictions. Rigorous testing was conducted with the new system running alongside the existing one to ensure a smooth transition without disruptions for clients. The collaborative effort between Andbank and ERI culminated in the system going live in December 2021, delivering on time and within budget, and establishing a more consolidated and reliable IT foundation for the bank\u2019s operations.<\/p>\n

Benefits Achieved<\/strong><\/p>\n