Core banking vendor IPBS signs reseller agreement with eShore
Bahamas, home of core banking software vendor IPBS
International Private Banking Systems (IPBS), a Caribbean software vendor focused on wealth management and private banking sectors, has joined forces with eShore, an IT services provider to offshore international banks and FIs.
According to the agreement, Cayman Islands-based eShore will be marketing and selling IPBS’s flagship core banking system, also dubbed IPBS, across a number of offshore financial centres. These include Antigua, the Bahamas, Barbados, Bermuda, British Virgin Islands, Cayman Islands, Jamaica, Trinidad, Mauritius, Turks and Caicos Islands, St Lucia and the Channel Islands. Support and development of the IPBS system will continue to be provided by IPBS.
The two companies also have an earlier partnership in place, with eShore providing the technical infrastructure and implementation services to IPBS’s cloud-hosted core banking offering.
IPBS: fact file
IPBS was set up in the early 1990s by Bruce Raine, who continues to be at the helm of the company today.
The company’s HQ is in Bahamas.
Its flagship product is IPBS, a front-to-back office core banking system for private banks and wealth managers.
The vendor has repeatedly attempted to break out of its regional market, but to date most of its business continues to be in the Caribbean.
Customers here include Bermuda Commercial Bank, Stocks and Securities in Jamaica, Bank Cainvest in the Cayman Islands, Bourse in Trinidad & Tobago, and Guaranty Trust Bank in the Bahamas.
In 2012, the vendor had a breakthrough in Hong Kong with the signing of Commercial Trust. It opted for the IPBS system after halting its first unsuccessful implementation of another package.
Commercial Trust provides statutory trustee and custodian services for private trust and foundation accounts, asset managers, private estates, and entrepreneurs. It licensed the complete suite of IPBS software for its wealth management operations in Asia Pacific, Europe and Switzerland.
