N M Rothschild launches private banking on the Internet

N M Rothschild launches private banking on the Internet

Guernsey-based private bank N M Rothschild & Sons has gone live with ArrowOnline, its new Internet-based system for the delivery of wealth management services to high net-worth customers worldwide.

The ArrowOnline service is based on BankWorld, the multi-channel banking package from Dublin-based CR2. It is being deployed to complement Rothschild's existing personal service, provding links to personal bankers, full access to account and transaction information and the functionality to issue transfer and payment instructions. Subsequent phases will see a comprehensive service made available to financial intermediaries and the provision of mobile banking services through handheld devices, says the bank.

Peter Rose, managing director, N M Rothschild & Sons comments: "It is important for private banking businesses to move with the times and enhancing the ways that we communicate with our customers is a key feature in the evolution of N M Rothschild's private banking services for the future."

The system is secured using 128-bit SSL encryption and two-factor user authentication via RSA Security's SecurID token technology. At Rothschild, BankWorld is integrated into a secure network infrastructure and features extensive auditing and component separation to ensure data confidentiality and integrity.

"There have recently been some very high profile problems with major Swiss, UK and US banks and their Internet offerings. These problems are bad for customer confidence and bad for the industry. Strong security was therefore a vital aspect of our decision to select BankWorld from CR2; their approach ensures that our customers can use ArrowOnline with the same level of security, integrity and confidentiality that is attributed to our traditional services," says Rose.

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