International Private Banking Systems (IPBS, www.ipbs.com), the specialist provider of wealth management software for the International Financial Services sector, today announced that Bourse Securities Limited and its subsidiaries (Bourse) in Trinidad and Tobago, has completed the roll out of most of the IPBS suite of integrated software.  Bourse has replaced manual and semi-automated processes with IPBS modules to provide brokerage and investment management services, money market and treasury operations, foreign exchange, mutual funds administration and shareholder services.

The Bourse Group is headquartered in Port of Spain, Trinidad, with offices in San Fernando and Chaguanas and is recognised regionally as a highly innovative investment provider, dedicated to providing superior returns to its clients.  To deliver ever higher levels of customer service, Bourse looked for ways of introducing a greater degree of automation in its back office and consequently began a review of the available technology solutions.

Nadia Abdool, Manager Financial Control & Corporate Services at Bourse said, “We spent a long time researching the market but could not find anything that met all of our varied and demanding requirements.  Fortunately a recommendation led us to look at wealth management software from IPBS.  We quickly realised that IPBS offered a single integrated system with specialised business functions covering the several different areas that we wanted to automate.  We were further attracted to IPBS, as like ourselves, they are headquartered in our region and are a privately owned and independent company.”

Bruce Raine, Founder and President of IPBS said, “Bourse has established a reputation for providing first class services in Trinidad and Tobago and we expect that as the Caribbean region becomes more integrated financially, that Bourse will become a prominent player regionally.  The IPBS modules allow companies to deliver innovative services to their client base, based on proven technology.  Additionally, our significant experience in many of the Caribbean archipelago jurisdictions has exposed us to the nuances of both international and local capital markets in the region.”

Raine continued, “Bourse presented us with a very interesting business case, as it is comprised of three separate core Companies, Bourse Securities Ltd., Bourse Brokers Limited, and Bourse International Asset Management Limited, as well as a “stable” of Mutual Fund Companies, with a variety of investment objectives. Any single “Bourse” customer however, could avail themselves of the services offered by any one, or indeed all, of the core Companies as well as be invested in one or all of the Mutual Fund Companies. This is not our typical wealth management model but with the fundamental “customer–centricity of the IPBS design, the customer can be discreet, yet can utilize the full range of business offerings of the Group within one suite. Ultimately, the customer does not have to keep track that their stock was traded through Bourse Brokers, or that their Repurchase Agreement or Bond was purchased through Bourse Securities. At the end of the day the customer will receive a combined statement showing all of his / her investments group-wide including positions in “in-house funds””
     
Bourse trades and deals in financial securities on the Trinidad and Tobago Stock Exchange, one of the leading exchanges in the Caribbean region.  Operating in a highly competitive market with homogenised banking services, the ability to continually offer new services is critical.

Abdool concludes, “The implementation of the IPBS system has enabled us to offer more flexible, reliable, and robust services to our clients.  Additionally, using the IPBS e-Banking module, we can become among the first companies in the region to offer clients the ability to remotely and securely log on to see their accounts in real time, which is an important differentiator for us.”

Trinidad and Tobago has grown to be an important regional Financial Centre and the Bourse Group is a well respected institution in this region. IPBS’s ability to service and support the local Trinidad market is an indication of our commitment to this region,” said Devanand Ramsingh, IPBS’s representative in the south Caribbean region, “By investing in state of the art wealth management technology to automate its core trading activities, Bourse will ensure that its operations remain highly efficient and competitive.”

IPBS provides a fully integrated trading, accounting and management information system that manage all of the front, middle and back office support services required by financial institutions, international private banks, trust companies, mutual fund administrators, wealth management professionals and investment and asset managers.  The IPBS modules will operate effectively stand alone or can be integrated where a more comprehensive solution is required.