DMS Bank and Trust, Cayman upgrades to iFinancial latest software release

DMS Bank and Trust, a user of iFinancial products since the bank’s incorporation in 2000, has recently upgraded its entire software suite to the latest releases of the iFinancial family of software products, AMLtrac for anti-money laundering, BankWare for core banking and iBank for digital banking. DMS is a specialist, boutique bank that provides offshore financial services to hedge funds, private equity funds, and investment management companies.

Mike Da Silva, iFinancial’s Technical Director, said…

“Because of the close integration of our products the project required meticulous planning and comprehensive User Acceptance Testing before the cutover weekend could even be scheduled. Our target was minimum customer disruption in what is a 24×7 processing environment. Fortunately, we were successful in meeting our, and the banks, objectives.”

Da Silva went on to say…

“the upgrade was made more complicated by the fact that the bank had decided to move their processing environment from an in-house solution to one running in the Amazon cloud. From our perspective all the work in preparation for the upgrade was done remotely with a technician being flown out to the Cayman Islands to be on-site for a few days either side of the cutover weekend”.

Matthew Day, Managing Director at iFinancial, said…

“the upgrade was part of our Continuous Upgrade and Evolution (CUE) program whereby all customers are entitled to the latest release of their licensed software with no additional licensee fees and only time charges in respect of data conversion, training and implementation support. CUE is an absolutely fabulous program from the customer’s point of view as it enables them to keep up to date with our latest software both from the functional and technological point of view”.

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