Second Jamaican banking organisation to do so

Jamaica’s credit union movement has signed onto the OLYMPIC Banking System developed by ERI, as it seeks to boost its product offering while making its banking system more scalable.

ERI, which is among the world’s leading banking software companies, has been selected by Jamaica Co-operative Credit Union League (JCCUL) to provide its OLYMPIC Banking System to the local credit unions spread across the island. The JCCUL is the umbrella credit union movement in Jamaica.

ERI will be providing its OLYMPIC Banking System to facilitate the provision of financial services to credit unions for the benefit of their members. The system will also facilitate the delivery of investment services to a growing clientele.

The OLYMPIC Banking System is one that is constantly evolving and adapting to meet financial institutions’ critical requirements and responds to the constraints and challenges of the market. The JCCUL is the second banking entity to have signed onto the OLYMPIC Banking System and ERI’s client base

More than 300 banks and financial institutions across over 55 countries have chosen OLYMPIC Banking System to streamline, automate and digitise their daily processes. ERI’s solutions assist banks in achieving cost and operational efficiency while keeping the focus on anticipating their clients’ needs.

ERI welcomes JCCUL to its client base

ERI Director of Sales Nicholas Hacking, in commenting on the deal, welcomed JCCUL to its extensive international client base.

“We are very proud that the discussions, carried out exclusively on a virtual basis due to the current pandemic, made it possible to demonstrate the match of the OLYMPIC Banking System’s extensive functional offering to JCCUL’s specific needs,” Hacking said.

He reported that ERI managed to demonstrate, through product coverage and strong client references, that ERI was the right fit for JCCUL business objectives. The ERI sales director stated that his team at ERI would be working remotely with JCCUL’s team to roll out the OLYMPIC Banking System across the credit union movement in Jamaica.

JCCUL and its subsidiaries offer a diverse array of financial products and services, facilitating and enabling credit unions to be at the forefront of financial inclusion in Jamaica and delivering billions of dollars of value to their 1.1 million members.

These services include loan and deposit products, fixed-income securities and equities dealing, pension fund management, hardware maintenance, software hosting and development, the operation of a debit card switch, training and business advisory services.

These products and services are provided through four separate entities within the JCCUL to its 25 member credit unions, as well as to a retail and corporate clientele in Jamaica and the wider Caribbean