Ardshinbank selects OLYMPIC Banking System to fuel securities and forex operations

By Gloria Mathias

ERI, an international company specialising in the design, development, distribution, and support of the OLYMPIC Banking System, has announced that Ardshinbank CJSC, an Armenian bank, has chosen the OLYMPIC Banking System to support its securities and forex operations.

Ardshinbank CJSC, founded in December 2002 in Yerevan, has consistently been at the forefront of providing financial services to its clients. The bank’s activities include providing investment services such as custody, brokerage, and forex services to its wide range of clients.

Ardshinbank is offering its clients the unique advantage of tapping into its extensive partner and correspondent network. This global network enables clients to access the best investment services, leveraging Ardshinbank’s strategic relationships around the world.

OLYMPIC Banking System will cover the end-to-end operational chain for securities (equities, bonds, funds, derivatives, etc.) and traditional FX products (spots, forwards, swaps). The administration of these products will be done within the OLYMPIC Banking System, with functionalities for securities transactions, delivery management, settlement/custody, accounting, and cash management.

The bank plans to implement ERI’s digital banking platform, which features transfer/payment orders, securities orders, and FX orders. The banking platform will be integrated with the bank’s mobile banking application for the retail business.

“Welcoming Ardshinbank as an esteemed member of our client community emphasises the strength and capabilities of our core banking system. This collaboration fills us with excitement as we embark on a collective mission to drive success in the dynamic realms of digital banking, securities, and forex operations, forging a promising path forward together,” shared Jean-Philippe Bersier, Director of Sales & Marketing, ERI.

“As we navigate the dynamic landscape of modern investment banking, we are thrilled to adopt a cutting-edge system that will streamline and digitise our investment services front-to-back operations. This strategic move underscores our dedication to providing best-in-class investment services to our clients and positions us at the forefront of technological innovation in the industry,” stated Harutyun Ispiryan, Chief Digital and Talent Officer and member of the Management Board.