Royal Fidelity Merchant Bank and Trust and IPBS celebrate 10 year relationship with further extension of contract

On Dec 10 2007 8:00 AM

Royal Fidelity Merchant Bank and Trust and IPBS celebrate 10 year relationship with further extension of contract

Royal Fidelity Merchant Bank and Trust and IPBS celebrate 10 year relationship with further extension of contract

Leading offshore bank continues to reap benefits from private banking and wealth management solution

Dec 06th, 2007

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 it had reached the ten year landmark with one of its highest profile clients, Royal Fidelity Merchant Bank and Trust (“Royal Fidelity”).

The effective management and implementation of technology solutions are central to a financial institutions ability to retain its long term efficiency. This long term relationship with IPBS started in 1997 when Royal Fidelity selected IPBS to assist with administering its stock brokerage, private banking and wealth management needs in the Bahamas.

Royal Fidelity’s business has expanded significantly since then to include corporate finance and advisory, investment management, share registrar and transfer agency, pension and mutual fund administration services, and the IPBS system has grown too. Constant attention to product development ensured that IPBS continued to offer a first class private banking and wealth management solution. It has enabled the Bank to remain competitive in today’s fast paced financial environment and well positioned to take advantage of the growing number of investment and financing opportunities arising across the Caribbean.

The IPBS system was first implemented by Royal Fidelity in the Bahamas – also where the headquarters of IPBS is based, but over time the solution has been implemented in other regions, “We are extremely proud to have built a ten year relationship with an important high profile customer, and this is a testament to our business model, investment in maintaining the superior functionality in our solutions and the quality of the IPBS team that we have attracted over the years,” said Bruce Raine, Founder and President of IPBS.

“We initially selected IPBS based on the functionality and its reputation in the financial services market. Over time our needs and the markets we serve have evolved, but the IPBS solution has kept pace. Our relationship with IPBS has flourished based on their track record of delivering proven solutions backed up by a team with expertise and first class consulting skills,” said Michael Anderson, President of Royal Fidelity, “We are confident that our private banking and wealth management needs will be met by IPBS now and in the future.”

Raine concluded, “Innovative products, solid advice and unparalleled service have been the key to the Banks’ success. We are pleased to have played our part and to have supported a valued client over the last decade. We look forward to working closely with Royal Fidelity in the coming years and supporting its expansion and growth plans in the offshore market, an area that we know extremely well.”

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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

About Royal Fidelity

Headquartered in The Bahamas, Royal Fidelity is an investment banking group offering a comprehensive range of domestic and international investment banking, wealth management and private banking services in The Bahamas, Barbados and the Cayman Islands. A knowledgeable and experienced team of local and international professionals uses local intelligence and a global perspective to provide innovative, objective and well rounded solutions. With origins in The Bahamas since 1997, Royal Fidelity is an active and well respected participant in the communities it serves.

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