Founded in 1973, Stocks and Securities Limited (SSL) is the second oldest brokerage firm in Jamaica with a team of over 50 staff (started in 1968, NCB CapitalMarkets Limited, previously Edward Gayle and Company Ltd, is the oldest operational brokerage house in the country). SSL is a full-service wealth management, investment banking and advisory firm, and a securities dealer regulated by the Financial Services Commission. It is also a member of the Jamaica Stock Exchange and operates a currency exchange regulated by the Bank of Jamaica.
SSL aims to be 'the market leader in specialised local and Caribbean wealth management solutions, investment banking advisory services and structured products with global reach', said the firm's president and CEO,Mark Croskery. Up to 2009, SSL relied on a legacy system for wealth management. This posed a number of operational and competitive challenges not least to the company's aim to continue to 'provide outstanding service' and 'innovative product offerings'.With a client base demanding a higher level of service, greater reporting flexibility and easier online access, the firm recognised it needed to invest in new operating technology that would support its business, Croskery commented. 'We aim to listen to our clients' needs and stay a step ahead of the competition. A key part of achieving this is the ability of our technology platform to enable effective services delivery to our customers.'
Key project takeaways
Project aim To modernise the bank's IT infrastructure to support its mission to become a 'market leader'.
To centralise and standardise the bank's operations. Main challenges
Data migration Market compliance and regulation.
