|By RealWire News Distribution||
|November 22, 2012 12:59 AM EST||
Private banking and wealth management system enables SSL to improve customer service and reduce operational risk
Nassau, Bahamas, 21 November, 2012 - International Private Banking Systems (IPBS, www.ipbs.com), the specialist provider of wealth management software for the private banking sector, has announced that Stocks and Securities Limited (SSL) is live on the IPBS/e-Banking module to provide online portfolio access for customers. The deployment of the IPBS private banking and wealth management system has also enabled SSL to reduce operational risk, increase efficiency, enhance reporting capabilities and improve customer service.
The IPBS/e-Banking module allows SSL to provide customers with instant online access to their accounts. Mark Croskery, President and CEO, Stocks and Securities Limited commented, "Enabling online access for our customers was a logical progression for SSL. The IPBS/e-Banking module benefits our customers as it enables them to log in 24x7 at www.sslinvest.com and instantly see portfolio valuations and their respective statement of account to a limited historical period set by SSL for example. There are also substantial productivity benefits for SSL as the IPBS system has freed up a significant amount of our resources from manual processing. Our wealth advisors can spend more time on value added activity such as prospecting, business development and managing their client's portfolios which in turn enables us to increase revenue streams."
SSL has also deployed the IPBS/Banking, IPBS/Business Manager, IPBS/Investments modules to support all areas of its business including payments and transfers, trading, Know Your Customer (KYC) and Anti-Money Laundering (AML). It has also been able to improve internal controls for example by implementing an uncleared FX mechanism which ensures that client service officers can instantly see if there are sufficient cleared funds in the client account before executing a transaction.
Croskery added, "A number of our competitors offer online accessibility and clients are demanding more and more instant gratification; whether it is to see their portfolio immediately or at any time of the day or to receive a trade confirmation immediately after a trade is executed. We aim to listen to our client's needs and stay a step ahead of the competition, and a key part of achieving this is the ability of our technology platform to enable effective service delivery to our customers. The provision of online access for our customers is a key step forward for SSL and thereafter it will be a differentiator in the market via innovative online offerings. We chose the modular IPBS private banking and wealth management system as it represented a best of breed solution. Since going live in 2009 with IPBS we have grown considerably but the IPBS system has helped us to continue to offer a boutique service and maintain our first mover advantage in different markets."
Bruce Raine, Founder and President of IPBS concluded, "The IPBS/e-Banking module enables vital online access and those companies that cannot provide this, risk an erosion of their competitiveness. Private banking and wealth management is a dynamic market which requires companies to constantly evaluate their business and technology strategy. With the IPBS system, companies such as SSL can deliver ever higher levels of service, offer new products and remain one step ahead of their competition."
- ends -
About International Private Banking Systems
International Private Banking Systems is a specialist provider of wealth management software for the private banking sector. The company began operations in 1993 and the flagship product is IPBS - a fully integrated accounting and management information system that provides all of the front, middle and back office support services required by international private banks, trust companies, mutual fund administrators and wealth management professionals. International Private Banking Systems now serves clients across the globe, including the Bahamas, Barbados, Bermuda, Brazil, the Cayman Islands, Hong Kong, Jamaica, Panama, Trinidad and Tobago, the Turks & Caicos Islands, the United States and Vanuatu. For further information, please visit www.ipbs.com
About Stocks and Securities Limited
Founded in 1973, Stocks and Securities Limited (SSL) is the second oldest brokerage firm in Jamaica with a team of over fifty professionals. SSL is a full service Wealth Management, Investment Banking and Advisory Firm. We are a securities dealer regulated by the Financial Services Commission (FSC), located in Kingston, Jamaica. SSL is also a member of the Jamaica Stock Exchange (JSE) and operates a Currency Exchange regulated by the Bank of Jamaica (BOJ). SSL is a leader at Jamaican and Caribbean fixed income and equities trading. SSL is consistently among the equity value leaders at the JSE. SSL has a dominant position in the high net worth Jamaican retail market. SSL's clients also include the largest private and public institutional investors in Jamaica. For further information, please visit www.sslinvest.com.
Press contact: Jenny Swift, Rivercalm: North America Tel: 001 917 210 8064 or Europe Tel: 0044 207 665 1636 Email: [email protected]
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