Customers of the National Commercial Bank of Anguilla (NCBA) are delighted to know that many payments to them, through international wire transfers, will now be a speedier service after a period of long delays.
This was made possible on Monday, October 11, 2021, when an agreement, to that effect, was signed between NCBA and IBIS Management Associates. IBIS serves over forty financial institutions and corporates throughout the Caribbean and Latin America.
The agreement was signed at a Press Conference by Ms. Sharmaine Francois, NCBA’s Chief Executive Officer; Ms. Marisa Gumbs, the Bank’s Manager of Projects and Card Services; and Mr. Clark Russel, Chief Executive Officer of IBIS Management Associates, with offices in Curacao, The Netherlands and Singapore.
Ms. Gumbs told the media that the agreement had begun a collaboration with IBIS to fully automate NCBA’s payment processing system using Alchemy and Swiss Route Services. She also explained that the new partnership was just one of the initiatives the Bank was embarking on as part of its wider digital transformation.
“Our customers are at the heart of every decision we make at NCBA and, as such, this partnership will undoubtedly result in better service and greater satisfaction for our valued customers,” Ms. Gumbs stressed. “This new system will allow for improved productivity and efficiency, but I would like to bring it a little closer to home by focusing on the advantages of this for our wire transfer customers.”
She continued: “The things we buy at supermarkets, hardware [stores], cosmetic stores, apparel stores, and other businesses here in Anguilla, must be imported from overseas…and these businesses are expected to pay for them, with the majority of payments made via international wire transfers. These payments must be made on schedule in order to meet shipment dates and other obligations.
“Therefore, the automation of our transfer system, using Alchemy and the use of straight through processing via Swiss Route, will allow the Bank to be in a position to significantly reduce the completion time of our entire wire transfer process and enable our customers, such as pensioners, the straight through processing will now mean your funds will be in your account much quicker.”
Ms. Gumbs added: “As we seek to expand our business and move NCBA forward digitally, this partnership with IBIS Management will allow us to remain competitive, improve our processes, enhance security, satisfy international compliance standards, and provide for greater customer satisfaction.”
IBIS’ CEO, Mr. Russel, encouraged NCBA’s Management Team to keep pushing the Bank in a direction of innovation and efficiency.
One of three founders of IBIS, he also stated: “With over 20 years plus of solid leadership, IBIS Management Associates Inc. became the solutions provider, and consulting firm of choice, for many financial institutions across the Caribbean, Central and South America. We specialise in the development and implementation of best practice Straight Through Processing payment systems, Internet Banking, Mobile Banking as, AML/CFT Compliance solutions, Application development and other essential needs. We are confident that our solutions and expertise will further propel National Commercial Bank of Anguilla forward to increased client service, efficiency and compliance.”
Commenting on the agreement, Ms. Francois stated: “The signing has just taken place so the relationship is official. We will be bringing better value to our customers, and so we are very excited about anything that would do so and is important to us at NCBA.”
She disclosed that “the agreement was for an initial five years, but would be a growing relationship.”
A press release issued later by the Bank stated, in part: “The new age of modern banking is growing rapidly across the world, offering more avenues for banks to diversify their business while demanding a higher compliance standard. With this growing demand, customers are seeking for more ease with a constant service provider that is willing to innovate. NCBA recognises this to be an essential part of its core vision.”
