IPBS launches IPBS/Business Manager

On Dec 12 2006 8:00 AM

IPBS launches IPBS/Business Manager

IPBS launches IPBS/Business Manager

Enhancements for Trust and Managed Company Accounting and Business Administration include Diary - Time Billing, Fee Management, CRM, Task Management

Dec 12th, 2006

Nassau, Bahamas, New York and London –International Private Banking Systems (IPBS), the specialist provider of wealth management software for the private banking sector, today announced their new product, IPBS/Business Manager a culmination of the integration of the former IPBS/Trust Administration and IPBS/Business Manager offerings with additional functionality.

IPBS/Business Manager provides the governing framework for managing clients and related parties from a KYC/AML (Know Your Customer/Anti Money Laundering) viewpoint, as well as defining and documenting simple or complex structures for Individuals, Trusts, Companies, Partnerships, Foundations, and any other legal or quasi legal entities.

In keeping with the latest KYC/AML regulation mandates, IPBS/Business Manager offers a user defined risk rating scheme within the client structure, allowing an assessment of the aggregated weight risk of the client relationship (s) from a corporate risk perspective. These aggregated scores can then be measured against enterprise benchmarks of Low, Medium or High or any variant of these.

Interfaced with an in-house copy of any of the Criminal Watch List providers, IPBS/Business Manager enables private due diligence Investigation on prospective clients and relationship names. Other features Include consistent data scrubbing against watch list updated data. Where watch list providers offer Unique Record Numbering in the database IPBS/Business Manager allows marking and filtering out of false positive "hits" on any unique internal external pair.

In addition, the all important corporate fee management capability has also been built into the IPBS/Business Manager and provides a virtually open ended, user definable, fee definition capability for any client entity or group of entities. One off time billing and invoicing has also been incorporated in the Fee Management capability and allows users to create standard matters against which time can be invoiced.

“IPBS/Business Manager is a response to changes in the market, particularly the KYC and AML regulatory requirements. This new .NET solution delivers additional functionality and ease of implementation, ensuring that our clients keep pace with market forces, business trends and regulatory initiatives whilst enabling them to continue to deliver a high quality and timely service to their customer base.” said Bruce Raine, Founder and President of IPBS.

Other important features of IPBS/Business Manager include:

1. Secure 128 bit encryption of client and collateral information
2. Seamless, local interface with watch list provider data 
3. Automatic Risk score increases reported in Compliance Log
4. Out of limit or trend movements of money reported in Compliance Log
5. Sophisticated multi-level client relationships and relationship structures
6. Multiple Relationship - Entity connections
7. Graphic depiction of complex structures

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About International Private Banking Systems

International Private Banking Systems is a specialist provider of wealth management software for the private banking sector. The company began operations in 1993 and the flagship product is IPBS - a fully integrated accounting and management information system that provides all of the front, middle and back office support services required by international private banks, trust companies, mutual fund administrators and wealth management professionals. International Private Banking Systems now serves clients across the globe, including the Bahamas, the Cayman Islands, the Turks & Caicos Islands, Bermuda, St. Vincent and the Grenadines, Barbados, Panama, Uruguay, Vanuatu and the United States.

For further information, please visit www.ipbs.com

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