PROVEN Group expands Olympic Banking System to 3 companies

ERI has announced that PROVEN Group, a financial institution operating across multiple countries in the Caribbean, has chosen to expand the use of its core technology platform, OLYMPIC Banking System, to three new banking and wealth management entities in the Caribbean region.

OLYMPIC Banking System will serve as the core technology platform to facilitate the expansion of both private and retail banking businesses for the following entities within the group:

• PROVEN Bank (Cayman) Ltd (formerly Fidelity Bank Cayman Limited);
• PROVEN Bank (Saint Lucia) Ltd (formerly Boslil Bank), and
• PROVEN Wealth (Cayman) Ltd (formerly International Financial Planning Ltd)

Johann Heaven, PROVEN’s Group Deputy CEO said, “We are thrilled to announce the expansion of the OLYMPIC Banking System to additional entities within the group, marking a significant milestone in our digital transformation journey. By adopting this advanced platform, we anticipate numerous benefits across our diverse activities, including streamlined processes, reduced risks, and enhanced cost-effectiveness. Additionally, our customers can expect an elevated and personalized experience that perfectly aligns with our commitment to excellence.”

PROVEN Group has rebranded its entities and is undergoing a business structure transformation with the objective of standardising the IT infrastructure across the group.

This process positions OLYMPIC Banking System as the primary core banking platform in a multi-entity set-up. The project encompasses existing functionalities utilized by PROVEN Wealth Limited including client on-boarding, credits, corporate actions, funds, client reporting, treasury, REPO, accounting as well as new functionalities including CRM, e-banking, PMS and new interfaces. In addition, new compliance and risk assessing tools will be developed to cover KYC and KYT processes.

Jean-Philippe Bersier, ERI’s Director of Sales & Marketing, said, “We are delighted to see the Proven Group once again placing their continued trust in OLYMPIC Banking System. By deploying the solution in several new entities, the group will benefit from an integrated solution that shares standardized processes and lowers the total cost of ownership (TCO).”