Axis Bank licences ERI technology for private banking

Source: ERI

ERI, supplier of the OLYMPIC Banking System, is very pleased to announce that Axis Bank has chosen the OLYMPIC Banking System to support its Private Banking & Wealth Management business, starting with the establishment of a booking centre in Singapore.

Axis Bank is amongst the top 3 private sector banks in India, being an industry leader in its product offering, operations and processes. Wealth Management and Private Banking is an area of focus for Axis Bank especially in international markets.

The OLYMPIC Banking System will be used by Axis Bank's Singapore unit to support its proposed wealth management and private banking offering to NRI and other clients both out of Singapore and from its offices in Dubai. The facility will soon be available in Hong Kong as well, subject to approval from the regulators. The application will ensure that the Bank has an integrated, front-to-back real time system to support the products and services that it will offer to its clients, including internet access and advanced portfolio management services. The Bank plans to offer both discretionary as well as advisory portfolio management services utilizing the OLYMPIC Banking System and its associated modules.

Speaking on the occasion of the tie-up, Sonu Bhasin, Senior Vice President & Head - Wealth Management Group, Axis Bank said "In our foray into international markets we intend to focus on wealth management and private banking services to the overseas Indian population. Our adoption of the Olympic Banking System will surely equip us with a strong backend support system to offer these services to customers in a seamless and organised manner."

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