Hong Kong based trust company invests in modular trust and private banking platform
International Private Banking Systems (IPBS, www.ipbs.com), the specialist provider of wealth management software for the Trust and Private Banking sector, has announced that Commercial Trust Limited of Hong Kong has licenced the complete suite of IPBS software for its wealth management operations in the Far East and Europe.
The IPBS system has been deployed under a flexible business model with the Trust Company implementing the IPBS/Business Manager, IPBS/Private Banking, IPBS/Investments & Safe Custody, Mutual Funds and Share Registry and IPBS/eBanking modules. This will enable Commercial Trust to provide its clients with access to account and investment positions from a flexible and robust, integrated wealth management platform.
Commercial Trust provides statutory trustee and custodian services for private trust and foundation accounts, asset managers, private estates, and entrepreneurial individuals. It provides custody and transactional support through HSBC Global in Hong Kong, and is a clearing correspondent of ABN-Amro Bank, Amsterdam. Commercial Trust wanted to replace a legacy back office system with one that would support its long term business and technical requirements.
Bruce Raine, Founder and President of IPBS said, “By investing in a modern, sophisticated private banking and wealth management system, trust companies can ensure they benefit from greater levels of operational efficiency and straight through processing while enjoying lower on-going maintenance overheads. The latest version of the IPBS system allows companies to free up staff time to be spent on more productive client relationship management activities and builds on our heritage of providing our clients with innovative solutions that enable real and sustained competitive advantage. The system is proven in a number of different jurisdictions and I am delighted that we are continuing to experience expansion of our client base in the Far Eastern market.”