The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

A Bahamas-based provider of specialist wealth management software yesterday said its selection as the sector’s top performer was “a nice pat on the back”, and could provide a springboard to win new clients and markets.

Bruce Raine, chief executive of International Private Banking Systems (IPBS), told Tribune Business that its selection as the 2013 International Wealth Management Software Provider of the Year by ACQ Magazine - a publication he said was affiliated with the Financial Times - would further boost the company’s market credibility.

Now boasting between 20-25 clients in 12 different jurisdictions, including the latest ‘win’ in Hong Kong, IPBS is currently dealing with three more prospective clients based in the Bahamas.

“I think it’s very, very positive for us,” Mr Raine told Tribune Business of the award, “because it’s not a local thing, it’s not a Caribbean thing, it’s very much a global sort of award.

“From that point of view it gives us some more credibility in the marketplace.”

Based on previous international exposure, Mr Raine said such developments such as the ACQ award could introduce IPBS to new clients and markets.

“It makes businesses aware of what business are in the marketplace and what we’re doing,” he told this newspaper. “It’s a nice pat on the back.”

Mr Raine said IPBS had grown gradually, in a controlled fashion, since its founding in 1993, and added: “We take it as we can get it. You couldn’t deal with a lot all at once.

“We’ve been at it a while, but it’s bearing some fruit now. It’s really, really rewarding. We were best known in the Bahamas, next in the Caribbean, and now we’re getting a bit of global exposure.

“That may lead into different opportunities in different parts of the world.”

The company’s 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.

IPBS has clients in the Bahamas, the Cayman Islands, the Turks & Caicos Islands, Bermuda, St. Vincent and the Grenadines, Barbados, Jamaica, Panama, Uruguay, Vanuatu, Hong Kong and the United States.

Mr Raine added: “Recognition that our company is delivering solutions that meet the growing needs of our users, and can keep pace with the constant changes in regulatory requirements, is high praise indeed.

“At the end of the day, we have been focused on ensuring our clients can support a highly efficient and dynamic business operation for over 20 years. We are very experienced in this highly specialised industry and proud of our reputation in the market.”