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IPBS and Sequrest partner to enhance cyber security for private banks and wealth managers

  • IPBS customers to benefit from the latest cyber defence systems including facial recognition and biometric technology

Grand Cayman, 29 November 2017 – International Private Banking Systems (www.ipbs.com), the specialist provider of wealth management software for the private banking sector, today announced a partnership with cyber security specialist Sequrest. This will see Sequrest as the exclusive provider of end to end cyber security frameworks to the IPBS customer base of private banks, wealth managers and trusts etc. The agreement covers the Caribbean region and other offshore markets that IPBS serves.

Sequrest offers a range of cyber security solutions including the latest facial recognition and biometric technology, encrypted communications and cyber intelligence. As a product and technology agnostic service provider, Sequrest is able to offer the optimum cyber security solution taking into account each institution’s specific challenges. Bespoke advisory protection is then available on an on-going basis according to the organisational requirements and risk profile.

Sequrest logo

Bruce Raine, Founder and President of IPBS said, “The Panama Papers was a result of a security breach and it is clear with the recent Paradise Papers that the industry has failed to learn the lessons of the past. Given the nature of sensitive data that private banks and wealth managers have access to, it is imperative that institutions invest in providing robust cyber security defences. The number of threats is growing on a daily basis and this issue should be at the top of every C- level executive’s agenda. There is already evidence of a cyber security skills shortage in the industry which will ultimately hinder an institution’s ability to defend itself against external threats. By partnering with a specialist in cyber security, we can help organisations to focus on their core business secure in the knowledge that their infrastructure is protected to the highest standards.”

Robert McClure, Managing Director of Sequrest added, “Many small and medium sized institutions lack the capability or know how to mount an effective defence against an increasingly sophisticated threat or keep pace with the latest threats as they evolve. However, efficient and cost effective cyber security solutions exist that can keep an institution safe, prevent reputational damage and lower the risk of financial penalties. What’s more, it can be rolled out quickly ensuring institutions and their customers are protected to the very highest standards. By working with Sequrest, you will benefit from a responsive service with direct access to cyber experts with many years of industry experience.”

Those companies that don’t invest or maintain adequate defences are putting their customers at risk. To avoid becoming the next victim, institutions need to carry out an immediate threat assessment to determine any weaknesses. Fortunately, given today’s technology every institution can implement effective controls such as multi factor authentication which are a strong defence against hacking and unauthorised access.

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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, Barbados, Bermuda, Brazil, the Cayman Islands, Hong Kong, Jamaica, Panama, Trinidad and Tobago, the Turks & Caicos Islands, the United States and Vanuatu. For further information, please visit www.ipbs.com

About Sequrest
Sequrest is an end to end cyber and digital security integrator and facilitator, specialising in immediate solutions for commercial organisations. Based in London, United Kingdom and offices in Europe and the Middle East, Sequrest has had successful operations and deployments in over twenty countries, and three continents, representing over 400 organisations across the spectrum of finance and business. For further information please visit www.sequrest.com

Press contact: Adam Osman, AO Marketing: Tel: 00 44 7976 891 335 Email: [email protected]

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