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Panama's EUBK live on IPBS private banking and wealth management system

04 November 2008  |  3177 views  |  0 Source: International Private Banking Systems

International Private Banking Systems (IPBS), the specialist provider of wealth management software for the private banking sector, today announced that EUBK Stock House Corporation (EUBK), a leading broker based in Panama, is now live on the IPBS/Banking, IPBS/Investments and IPBS/e-Banking modules.

Indira Veitia, Director of EUBK Stock House Corporation said, "We wanted best of breed products to support our new banking and trading offering. The IPBS private banking system demonstrated great flexibility and its ability to meet our multi-lingual requirement for Japanese support was a key factor in our decision. We were pleased with how fast we went live thanks to the hard work of the IPBS team."

Panama's private banking sector provides a significant contribution to the national economy and ensures it has a well earned reputation as a major international financial centre in Latin America. Its location means that it is seen as a convenient gateway to both the North and South American financial markets.

To take advantage of this beneficial environment, EUBK has set up a new division to offer trading, banking and e-banking services. The IPBS/Banking module provides all of the operational functionality to manage traditional banking functions. Transactions are processed in real time and update all relevant accounting records and positions across the enterprise.

IPBS has enhanced the multi-lingual capabilities of the IPBS/e-Banking module to provide Japanese language support. EUBK offers end clients, investment and financial advisors a secure, 24x7, real-time online view of an entity's cash and investment asset positions from a cash or portfolio perspective.

The broker also uses the IPBS/Investments module as a comprehensive platform for managing client investment assets from the initial portfolio allocation and structuring through to trade order placement, order dealing and trade settlement, thus maintaining high rates of Straight Through Processing (STP).

Bruce Raine, Founder and President of IPBS commented, "EUBK has invested in its private banking infrastructure to support all aspects of their business. Our local expertise combined with the proven IPBS software was essential in meeting the client requirements."

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"IPBS has a very positive reputation in the Panama market. We are confident we have selected a future proof system that will ensure we can manage our back office transaction processing efficiently and minimise our operational costs," Veitia concluded.

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