TrustBankCBS
50+ years
serving the Liberian community (originating from International Trust Company, established 1947)
6-month
implementation timeframe for complete migration to TrustBankCBS
9 branches
plus the Head Office were brought onto unified retail banking
20+ integrated solutions and interfaces
including SWIFT, multi-currency treasury, and trade finance
Situation Overview
International Bank (Liberia) Limited (IBL) has served the Liberian community for over 50 years. Originally established in 1947 as the International Trust Company (ITC) to manage the Liberian maritime program, the institution opened a commercial banking department in 1960 and became a standalone commercial bank in 2000 under its current name. Committed to empowering Liberians and playing a role in national development, IBL set out to modernise its core banking infrastructure to support international-grade commercial banking and expansion into new markets.
Testimonial from Bank Leadership
Challenges
Although IBL had automated its banking operations, its legacy IT system created significant operational and strategic constraints:
Limited functional richness,
with unoptimized processes and duplication of work across systems
Wrong posting of multi-currency transactions,
alongside inadequate financial accounting functionality — a critical gap for a bank operating in international trade and remittances
Weak vendor support,
with heavy manual intervention required for statutory reporting and IT operations
IBL’s management set out clear objectives: implement a comprehensive Core Banking System to support expansion into new markets and grow its customer base; deliver complete commercial banking services to business customers; and launch self-service channels, including Internet Banking and Utility Bill Payments. The bank needed a state-of-the-art, future-ready CBS platform — deployed within an ambitious 6-month migration window.
Solution Provided
IBL selected TrustBankCBS for a complete, turnkey core banking transformation, with Trust Fintech delivering the full services stack — hardware and system assessment, requirements study and blueprint documentation, customisation and parameterisation, legacy data migration, UAT, training, go-live support, and post-go-live technical support.
The implementation delivered a comprehensive, multi-currency-capable solution stack, including:
- TrustBank H.O. Module — consolidated reporting, bank reconciliation, and statutory reports for the Central Bank
- Multi-Currency Accounting — real-time conversion of all foreign currency transactions into Liberian dollars, with support for multiple entities, parameterised base-currency setup, and simplified reconciliation and exchange rate reporting
- Retail Banking — unified across the Head Office and 9 branches
- Trade Finance — automation and centralisation of Bank Guarantees, Export-Import Letters of Credit, documentation, negotiation, and remittances with multi-currency support
- Treasury (Money Market + Forex) — integrated management of foreign currency exchange deals, investments, borrowings, and currency-wise/maturity-wise limits and positions
- SWIFT Integration — enabling international wire transfers and remittances, connecting IBL efficiently and reliably with banks and financial institutions globally
- ATM (SWITCH interface, ISO 8583) with multi-currency support, and POS Switch Integration
- Internet Banking — personal and corporate portals offering multi-currency balance views, statement downloads, fund transfers, bill payments, loan applications, and multi-level corporate authorization workflows
- Mobile Banking (USSD) — enabling fund transfers, balance inquiries, mini statements, and utility bill payments for customers without smartphones or data connectivity
- Agency Banking and Smartphone/Tab Web Interface for transactions
- Credit Appraisal and Rating/Scoring
- HRM (with training, appraisal, and payroll)
- Trust-Analytica — an in-built Business Intelligence tool for Chart of Accounts analysis, plus 8 additional dashboards
- Fixed Assets & Inventory Management, Shares Module, Direct Debit/Direct Credit file transactions, and ACP-ACH Clearing Platform integration
One unified platform
Business Impact
- Reliable multi-currency operations
Real-time currency conversion and parameterised multi-currency setup eliminated posting errors and simplified reconciliation
- Global connectivity
SWIFT integration positioned IBL to support international wire transfers and remittances efficiently and reliably
- Improved trade services
Centralised, automated trade finance processes enabled faster, more timely decisions for customers
- Expanded customer access
USSD-based mobile banking extended services to customers without smartphones, while Internet Banking gave both individual and corporate customers full self-service capability
- Stronger decision support
The built-in Trust-Analytica BI tool and 8 dashboards gave management real-time visibility for informed decision-making
- Enhanced statutory compliance
Consolidated reporting and reconciliation through the TrustBank H.O. Module strengthened compliance with Central Bank requirements
Conclusion
IBL’s transformation demonstrates how TrustBankCBS scales beyond India’s borders to meet the demands of international commercial banking — combining multi-currency accounting, global payment connectivity, and trade finance automation on a single, unified platform. With TrustBankCBS, IBL strengthened its foundation to pursue its mission of becoming Liberia’s premier bank, backed by technology built for global-grade banking.
