Butterfield Bank Limited has chosen the International Private Banking Systems’ IPBS/Business Manager for regulatory and compliance responsibilities.
Management of risk and best practice conformity with worldwide financial regulations led the bank to look at implementing a new system with stringent compliance controls, particularly with regards to Know Your Customer and Anti-Money Laundering regulations.
This comes just a few weeks after Panamanian asset manager Financial Pacific Inc. went live on the IPBS/Business Manager, IPBS Investment Management, ebanking and etrading solutions in Panama.
The Panamanian market is growing rapidly in terms of economic and financial importance, as the region positions itself as a key gateway to North America and Europe. It is already one of the most modern and successful international banking centers in Latin America.