Modular private banking software platform to be deployed under hosted model

Nassau, Bahamas, 31st May, 2011 – International Private Banking Systems (IPBS, www.ipbs.com), the specialist provider of wealth management software for the private banking sector, has announced that Cainvest International Bank, a Cayman Islands-based private banking institution, has selected the modular IPBS private banking and wealth management system.  The software will be deployed under a hosted model which will shorten implementation timeframes and ensure a rapid return on investment.

Cainvest International Bank, formerly Sul America International Bank (Cayman) wanted to improve its customer service by implementing a modern private banking technology platform.  Following a detailed selection process which included evaluating five separate vendor solutions, the bank chose the IPBS private banking system.  Cainvest International Bank will deploy the IPBS/Business Manager, IPBS/Banking, IPBS/Investments modules. IPBS/eBanking will also enable the bank’s clients to securely and efficiently access their investment portfolios and accounts online as well as place various transaction orders with the back office.

Charles Aboulafia, Head of Investment Products & Services at Cainvest International Bank said, “I was very impressed with the expertise and professionalism of the IPBS team.  Our due diligence highlighted that IPBS provides their clients with a responsive, high quality service and the IPBS software would provide us with a flexible, cost effective and above all proven private banking platform.  Thanks to the hosted nature of the solution we will experience a short implementation timeframe.  I expect to go live in less than four months and anticipate that this will be the start of a productive long term working relationship with IPBS.”

Bruce Raine, Founder and President of IPBS said, “Cainvest International Bank has a reputation for providing a transparent and personalised service to High Net Worth individuals and institutional clients.  I am delighted that our modular private banking system will play a key role in upholding the qualities that the bank is known for.  Institutions that deploy the IPBS private banking and wealth management system under our hosted model benefit from lower implementation costs and faster time to market for new services.”