Mr. Raine began his career in information technology in 1968 in the employ of the first offshore trust company outside of Switzerland. Trust Corporation of Bahamas Limited succeeded Bahamas General Trust Company and was jointly owned by the Royal Bank of Canada and National Westminster Bank.
He began his career as a junior programmer for IBM mainframe systems and became focused on the financial services business and this knowledge continued to develop in parallel with his skills of developing computer programs to manage it. In 1981, Mr. Raine and six other Bahamian professionals created the first software development company in the Bahamas – Data Systems Limited - and developed and supported software for myriad businesses ranging from Life Insurance, to Wholesale Distribution to Shipyard Labour and Materials Management. Micro-Processors had entered the market about this time, and with a continuing love of financial services, Mr. Raine developed what may have been the first ever functioning international banking application running on what was then called a “Xerox Word Processor”. Programs were stored on a 1 megabyte 8 inch floppy disk and the data was stored on another disk.
In 1993, Data Systems International was founded by Mr Raine with the single purpose of specializing in financial services software. Its flagship software product was International Private Banking Systems (IPBS) and was initially developed on two strategically different platforms - personal computers and IBM mid range systems The latter was retired in 1997 and IPBS became a single platform product. In 1998, Mr. Raine determined that the original technology of a DOS based system was at the end of its life and commenced the move to a Windows based product. Beta copies of this product were released in mid 1999. By 2004 Microsoft had released its .NET technology pointing the way to a revolutionary Internet based topology and Mr. Raine began what was in essence his fifth financial services product development. Today IPBS technology and products are installed and support the business of many financial institutions across more than ten international jurisdictions.
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