established reputation in the asset management sector with ten clients running its core banking system in Jamaica.
2012 was also a challenging year for the Jamaican financial industry as there was reliance on the InternationalMonetary Fund (IMF). This domestic market was said to be in a holding path, depending on the IMF's agreement to change Jamaica's debt dynamics, which was causing great uncertainty. At the end of the year, the country was still hoping for a deal to be finalised.
New vendor and system
IPBS (International Private Banking Systems) is a specialist provider of private banking and wealth management software for the private banking sector, set up in 1993 in Nassau, Bahamas. Although half a dozen of IPBS's customers are in its home country, over the last few years it has also gained users in the Cayman Islands, Hong Kong, Jamaica and Panama. It has a headcount of 15 staff and its target markets are generally North America and the Caribbean, Europe and Asia Pacific.
The vendor's main core banking product is IPBS, and it has around 25 takers. Functionality of IPBS
Private Banking Treasury and client deposits FX Swift Payments Investment asset classes Trust & client accounting Mutual funds NAV calculator Reporting and transaction order entry into back office KYC/AML
