Case Study: Stocks and Securities Limited reduces operational risk and gains competitive advantage with International Private Banking Systems

Stocks and Securities Limited reduces operational risk and gains competitive advantage with IPBS

Stocks and Securities Limited (SSL), the second oldest brokerage firm in Jamaica, faced operational and competitive challenges from an aging legacy wealth management system that limited reporting flexibility, online access and compliance with complex Jamaican tax and regulatory requirements. To modernize operations and better serve a demanding client base, SSL selected a modular private banking and wealth management system from International Private Banking Systems (IPBS).

International Private Banking Systems implemented multiple IPBS modules (IPBS/Banking, IPBS/eBanking, IPBS/Investments and IPBS/Business Manager), automating 90% of general ledger feeds and enabling real-time transaction processing, KYC/AML screening and online portfolio access. The IPBS solution reduced operational risk, shortened end-of-month processing, freed adviser time for revenue-generating activities, improved internal controls (including an uncleared FX mechanism) and delivered substantial productivity and reporting improvements that helped SSL maintain a competitive edge.

Stocks and Securities Limited

Mark Croskery

President and CEO