•   Latest version exploits web based technologies to deliver greater banking functionality

Nassau, Bahamas, New York and London, 4th February, 2010 – International Private Banking Systems (IPBS, www.ipbs.com), the specialist provider of wealth management software for the private banking sector, today announced the launch of an enhanced e-Banking module. The software allows wealth management providers to deliver a superior user experience to their customers with enhanced banking and investment facilities using state of the art secure online access to data. The platform supports a wider range of transaction types and features fully revised comprehensive online reporting.

Bruce Raine, Founder and President of IPBS said, “We have invested a significant amount of development work into the new e-Banking module. The resulting product delivers powerful and flexible ebanking functionality allied to ease of use and the highest levels of user security to meet the demanding needs of today’s banking industry. The e-Banking module enables our customers to offer their end-clients a more functionally rich online banking platform that supports a wider range of transaction capabilities. The reaction from the market has been extremely positive and we are already working on client implementations.”

Transactions may be entered by users and held for review and authorisation under the ‘four eyes’ principle for greater security. All orders are automatically interfaced to the back office systems for updating, with additional user alerts triggered to ensure orders are acted on.  This minimises manual intervention and increases straight-through processing (STP).  Orders may also be confirmed via email to one or more parties.

The introduction of templates which may be stored for different types of transaction cuts down the time required to perform similar transactions in the future. The range of transaction types has also been expanded and the e-Banking module now includes support for:

•   Payments – in SWIFT ready formats
•   Foreign Exchange
•   Deposits
•   Securities trades

IPBS has made significant improvements to the power and sophistication of the reporting functionality that is available. Users have instant visibility and control over their portfolios and may access a wide range of reports which may be downloaded to external applications such as Excel with a click of a button for further analysis.

Security features have also been upgraded, with the addition of a virtual keyboard for use during the sign-on process which prevents key-click tracking of passwords. The e-Banking module allows relationship managers or end-user clients to log in securely and remotely to access reports for designated entities.

Raine concluded, “We have used the latest web-based technologies to ensure the e-Banking module delivers greater user access and convenience combined with improved flexibility. It forms part of the modular and integrated IPBS private banking and wealth management system, which enables all relevant accounts and journals to be updated once a transaction has been executed, thus increasing STP and minimising operational risk.”