According to Croskery, IPBS's e-banking module would benefit SSL's customers as they could log onto the firm's website 24/7 and instantly see portfolio valuations, for example, and their respective statement of account to a limited period which is set by the firm. There are also substantial productivity benefits for SSL, Croskery believes, as the IPBS system frees up a significant amount of the firm's resources from manual processing. 'Our wealth advisors will be able to spend more time on value-added activities such as prospecting, business development and managing their clients' funds, which in turn enables us to increase revenue streams.'
The attitude of SSL's clients in particular influenced this decision, Croskery commented. 'When we get contract notes and trade confirmations, we don't get paper anymore.We find customers in Jamaica don't want paper, they have become very green and digital.We want our system to be able to almost immediately send email confirmation to the client's email address.'
Croskery was highly complimentary of the partnership SSL built with the vendor. 'It has been incredibly valuable to SSL to not only deploy a modern private banking and wealth management solution, but with the support of IPBS we know it is future-proof and scalable.' He continued, 'we have absolute confidence that the system will continue to enable us to manage the complex tax requirements of the Jamaican market and how we meet the evolving reporting and regulatory requirements'.
