Development Bank of St. Kitts and Nevis taps ERI for its Olympic Banking System

ERI, has announced that Development Bank of St. Kitts and Nevis has chosen the OLYMPIC Banking System as its new core banking platform to support its development banking business expansion.

Development Bank of St. Kitts and Nevis (DBSKN) promotes economic growth and development by providing financial and advisory services to viable ventures and programmes in Business, Industry, Agriculture, Education and Housing.

Development banking in the Caribbean region as a whole and in the Eastern Caribbean Currency Union in particular, has been a means of providing access to finance by the small and medium size businesses which did not have the capacity or track record to do so from the established banking system.

Laurinston Matthew, CEO at DBSKN said, “OLYMPIC Banking System will enable DBSKN, through automated compliance processes and sophisticated balance sheet reporting, to attract foreign banks and sovereign wealth funds to invest in development projects in St. Kitts and Nevis. Clients will also benefit from having easy access to their loan and account information while enjoying a new enhanced digital user experience.”

The bank has embarked on a strategy to transform its operating model by implementing a digital core banking platform that will enhance its services and product offering.

The project will be delivered in a SaaS Model, OLYMPIC Banking System will be deployed on a MSFT Azure SaaS platform which will be managed by hosting partner TAG Consulting LLC in San Juan, Puerto Rico.