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Introduction
Today, there is an estimated US $5 trillion held offshore with private banks and trusts, and this amount is expected to grow substantially over the coming years. Small banks and trusts seeking to prepare for this growth face a challenge to master the labor-intensive processes required to meet client needs, with limited staff. According to industry experts, many offshore banks and trusts are making heavy investments in systems with particular emphasis on productivity goals and improvements in client reporting.
Client reporting and client communications in general need to improve in order to satisfy the increasing demands of a new breed of private wealth management clients. In addition to improved client contact and reporting, the small banks require support to ensure that they can keep up with the technological demands of their clients. Image, size, credibility, and the vision of future trends and service are all important to the small banks.
Profile
For small offshore banks who need to provide state-of-the-art service to clients, Primacy Corporation is an Application Service Provider that offloads the burden of the technology infrastructure burden required to provide this service.
Unlike traditional service bureaus, Primacy guarantees innovative technology products and services to enable private banks to attract and retain a growing client base.
Primacy Corporation provides Client Accounting software, Web site management services and full network infrastructure and support to banks and trusts. Primacy Private Banker delivers real-time, integrated information on accounts, trusts and investment in multiple currencies. It offers an easy to use, workflow-based user interface.
Primacy Corporation is a Barbados International Business Company (IBC). It was created to address the expansive needs of small private banks and offshore trusts to better serve the growing demands of their clients in the wealth management sector. The company was founded in 1998 when a group of forward-thinking bankers visualized a solution that would guide the industry into the new millenium.
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