Since the Bank’s inception International Financial Systems (iFinancial) from London, has been the choice of provider for its technology systems which included not only the branch on St Helena itself but also the remote branch in the Ascension Islands. Rosie Bargo Managing Director The bank originally looked at a number of suppliers including those on mid-range platforms. The reason that the bank selected iFinancial was a combination of functionality, price, support, and ‘their reputation for going the extra mile’.
DMS have refocused from its ‘private banking’ heritage to offering exclusively institutional offshore financial services and realised that they needed a new banking system with an online capability to enable this repositioning to take place. Muspratt and his team looked at three international banking systems with comparable capability.
They spent some time evaluating the alternatives with their main criteria being that it met their business needs, cost, simplicity and reliability. They finally selected BankWare, iBank, and AMLtrac from International Financial Systems (iFinancial). Muspratt and iFinancial were known to each other. Fortis had previously worked with iFinancial and used an earlier version of their flagship system, BankWare DOS.
FCMB Bank (UK) Limited is a UK incorporated and regulated bank and is a member of FCMB Group Plc, a leading banking group headquartered in Nigeria. FCMB group has more than 2 million customers and over 270 branches in Nigeria. FCMB is located in the City of London and commenced operations in 2014.
The bank chose International Financial Systems (iFinancial) to supply BankWare and AMLtrac as the platforms around which they would build their operations. The bank provides Trade Finance, Corporate and Investment Banking Services to its customers. It also offers Stockbroking Services for institutional clients, wishing to trade in Nigerian equities.