International Private Banking Systems (IPBS), the specialist provider of wealth management software for the private banking sector, today announced that Sentinel Bank & Trust (Sentinel), has implemented the IPBS/Banking, IPBS/Trust, IPBS/Investments, IPBS/Funds, IPBS/Compliance, IPBS/Remote Client Access to support it's growing high net worth client business from its base in the Bahamas.
Sentinel, a member of The Colina Financial Group, the largest life and group insurer in the Bahamas has selected the IPBS solution to support the Trust and Corporate Secretarial administration services, client accounting and international private banking activities. The IPBS solution replaces a system which had reached the limit of its capabilities.
The services offered by Sentinel to its high net worth clients include international private banking, offshore incorporation, trust and foundation formation, client accounting and general administration. These services are utilized by high net worth individuals to protect their investments and ensure adequate asset protection and estate planning for future generations.
The project created to identify a fully integrated, web enabled system that was designed for the needs of private banking had to satisfy a number of important criteria:
- user friendly
- integrate the entire front to back office activities
- eliminate duplication of effort
- ensure compliance requirements met
- affordable with excellent 24 x 7 support
- be flexible and scaleable for future business growth
Richard Evans, President, Sentinel Bank & Trust states "We chose IPBS for a number of reasons. Firstly, using "single source" data entry, the IPBS system has been designed to allow our professionals to use their time more effectively and efficiently, allowing them to avoid duplication of administrative effort, minimize the risk associated with multiple data entry points and to increase the efficiency of our operations. Secondly, the benefit of working with the team at IPBS who are truly experts in understanding our business means they appreciate our day to day challenges and can be relied upon to provide us with an IT system that meets our needs perfectly. Thirdly, after speaking to a number of IPBS users, all of whom were delighted with the IPBS solutions they had implemented, it was clear they were the best choice for us."
"The challenges faced by Sentinel, if not addressed, could affect the companies ability to service is customers around the world, effectively and efficiently. Our team observes these challenges in the private banking sector very frequently, and because we know the environments in which our customers operate, we can readily address their needs and deliver a solution that is effective and affordable. There can be no better accolade in our view than a happy customer and we look forward to a long and happy association with the team at Sentinel," adds Bruce Raine, Founder and President.