International Financial Systems (ifinancial), the financial services software developer, has recently signed a distribution agreement with Skanco Business Systems Limited to supply and support their full range of software solutions in the Isle of Man.
Skanco is an Isle of Man company wholly owned by its directors, all of whom are Manx residents. Skanco has grown steadily since 1985 following the growth of the business sector on the Island and its product portfolio has changed according to their needs. Managing Director David Butterworth said “Our core business has always been in providing complete solutions for our clients. In the Isle of Man many clients want a one-stop shop and we are seen as a company who provides it. In our agreement with iFinancial we are continuing with this philosophy and look forward to working closely with them.”
International Financial Systems has been developing software and services for the financial community for over 27 years. Among its clients are international banks, stockbrokers and credit unions. The iFinancial product range consists of AMLtrac, a complete anti-money laundering tool set, BankWare a core banking and internet banking solution and Cumulus which is its cash management offering.
Terry Day of iFinancial said “There is a great deal of synergy both in terms of business requirements and practices between mainland UK and the Isle of Man which, together with the density of financial institutions, means that it is a logical location to have a dedicated representation. We have worked with Skanco on other projects in the past and we are confident that the business relationship will continue to blossom and bring success in the future. The availability of Skanco’s server farm means that our products are now available both on a deployed and hosted basis thereby putting them within the reach of every business irrespective of their size.”