competitors. The reason for its success is that the software matches what the market is looking for: it offers a wide range of functionality, reduced total cost of ownership, rapid installation and an upgradeable platform technology.
Martin Whybrow, the publisher of the International Banking Systems Journal, observed when commenting on the survey results that the volume of sales in 2009 was less than in 2008 but that ERI had managed to open up new markets by sales in several geographical regions.
Michel Mathys, ERI's Sales Manager, expressed his satisfaction: "We are happy with the progress of sales of OLYMPIC Banking System. The application is aimed at private banks, wealth management and funds as well as universal retail banks. Central banks that have been won over by the integration of components and real time transaction processing also represent a growing number of ERI's clients. The recent multi-platform SOA version has greatly increased potential market size."
ERI is positive about its business prospects for 2010; the bounce-back of financial markets will boost the recovery of investment in banking platforms. Growth will occur in traditional market places where renewal is expected but it will also affect emerging economies where there is frequently a strong demand for software in the banking and financial sectors.