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Mundial Asset Management Panama selects International Private Banking Systems
• Top priorities include Compliance, KYC and Anti-Money Laundering
Nassau, Bahamas, New York and London, 17 May 2005 – International Private Banking Systems (IPBS), the specialist provider of wealth management software for the private banking sector, today announced Mundial Asset Management has gone live with their IPBS fully integrated client portfolio management, KYC and compliance solution. The IPBS solution is built on the Microsoft .NET platform.
Mundial Asset Management is based in Panama, a large international financial centre strategically located at the crossroads of the Americas and on the western rim of the Caribbean basin. The company requires a completely integrated system to ensure they meet the stringent Panamanian regulatory requirements for KYC (Know your Customer) and AML (Anti-Money Laundering). At the same time they wanted to ensure their client portfolio management systems were maintaining a level of sophistication that would deliver the very best of client service and enable them to operate efficiently in a multi-lingual capacity using web based technology.
IPBS will implement three key products from their specialized portfolio to meet the demands of Mundial, namely IPBS/Investments, IPBS/Compliance Manager and IPBS/Remote Client Access. The combination of the products creates a streamlined, automated process with full STP (Straight Through Processing) capabilities.
Key capabilities of the solution:
- multi-lingual/multi-currency portfolio management
- front office order booking, portfolio modeling, forecasting
- access to full range of investment instruments
- compliance management
- secure 128 bit encryption of all information
- seamless interface with WorldCompliance (AML database)
- sophisticated multi-level client relationship management
- web-based direct client access enabling trading, with payment, deposit and funds transfer capabilities
- high level secure access at all entry points
Gabriel E. Fabrega W., CEO of Mundial Asset Management commented. “Mundial Asset Management is a new company, established in a very dynamic market with many clients to service across a wide geography. We needed to identify a proven wealth management software company who could meet our IT challenges with innovative technology and for a realistic investment. We are pleased to be working with the team at IPBS who have been recommended to us as specialists in the industry.”
Bruce Raine, Founder and Managing Director of IPBS adds: “The proximity of Panama to the international financial markets is quite unique. Mundial was faced with a number of challenges to enable its IT systems to support the breadth of services offered to clients who include both Global investments and specialist Central and South American investment instruments. Our partner, Gustavo Garcia de Paredes has been a key partner in the relationship, working with both Mundial and IPBS to ensure delivery of the very best solution possible. We look forward to a long association with Mundial Asset Management and towards helping them achieve success in their market”.
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, Panama, Uruguay, Vanuatu and the United States.
For more information, please visit www.ipbs.com
About Mundial Asset Management
Mundial Asset Management is a broker dealer wholly owned by Grupo Mundial, a leading financial consortium in Panama. Grupo Mundial is formed by Aseguradora Mundial, Panama’s leading insurance company, Banvivienda, a leading mortgage bank, Mundial Fiduciaria, a trust company, and Mundial Pensiones, a newly formed pension fund company. Mundial Asset Management was launched in 2004 as the result of a strategic alliance between Dryden Wealth Management and Aseguradora Mundial, for the development and distribution of the Global Select open architecture wrap account program. Dryden Wealth Management is a 100% subsidiary of Prudential Financial, Inc. (USA). Mundial Asset Management has also added a local stock seat, and Pershing’s fully disclosed clearing services to its customer transactional platform offerings. Finally, Mundial Asset Management has signed numerous distribution agreements with the leading offshore mutual fund families, as well as the most renowned global investment banks. With the IPBS platform in place, Mundial Asset Management is able to provide their customers with a unified account statement, online access to their consolidated holdings, and state of the art compliance and AML tools.
For more information, please visit www.mundialam.com
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