ERI, supplier of the OLYMPIC Banking System, is very pleased to announce that SG Private Banking has successfully implemented the OLYMPIC Banking System in Singapore to support their private banking operations there. This implementation is part of the set up of a regional support function hub by SG Private Banking (Asia Pacific) and the simultaneous transfer of its activities in a dedicated entity, a newly created branch of Societe Generale Bank & Trust.
This will be followed in 2006 by an implementation for the bankâs Hong Kong based private banking business on the same platform, subject to regulatory approvals.
The implementation in Singapore of the OLYMPIC Banking System covers not only all the wide range of functionality expected of a first class private bank, but also provides support for the creative derivative transactions for which the SG Group is well-known, as well as covering automatically local requirements such as the ACU/DBU accounting rules.
The OLYMPIC Banking System in now used by sites of the SG group in a total of 6 countries, with at least a further 2 countries due to go live on the application in 2006.