SAN FRANCISCO and LONDON – December 5, 2011 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, and Applicon, a Northern European services provider to financial institutions, announced a cooperation agreement at an event on November 24th. The parties will leverage Applicon’s local expertise to implement Advent’s investment management solution in the Icelandic market.
According to the OECD’s 2011 Economic Survey of Iceland , the economy, including the asset management sector, has recovered since the2008 crisis. Advent and Applicon chose the opportunity to work together given the current trends in the Icelandic investment management industry, particularly local demand for more sophisticated investment management solutions, heightened focus on operational risk and increased regulatory reporting and compliancerequirements. The client event, which featured speakers from Advent, Applicon and NASDAQ OMX, was well attended by banks, asset managers, wealth managers and pension funds, and the attending firms expressed an increased interest in learning more about the latest trends, technologies and innovations.
“Advent provides reliable and trusted industry-standard solutions, including market-leading portfolio management systems,” said Ingimar Bjarnason, managing director, Applicon Iceland. “Years of experience have shown that their solutions help investment managers increase operational efficiencies and reduce risk. Given the market’s current appetite for proven solutions, we recognized that collaborating with Advent would enable us to meet this demand.”
“We are very committed to Iceland. We have been serving clients in Iceland since 2005, and we were looking for a local services provider to bring our clients additional local knowledge and industry expertise,” said Håkan Valberg, senior vice president and general manager, Advent Software EMEA. “Applicon has a long-standing presence in the Icelandic market, which will help us bring this local support to our clients and respond to their specific requirements.”
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Firms in more than 60 countries count on Advent technology to run their mission-critical operations. Advent’s quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling operational risks and costs. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being aworld-class support and services organization. For more information on Advent products visit http://www.advent.com/about/resources/demos/pr.
Applicon is a Northern European company formed in 1997 with offices in Denmark, Sweden, Iceland and the UK. Applicon offers advisory-driven services to financial institutions, delivering and implementing industry-standard software from internationally recognized vendors like Advent, coupled with add-ons specifically developed to address local needs, such as index-based products and integration with local institutions. Today Applicon has a strong customer base of companies in the Nordics including most of the larger banks and financial institutions.
Advent, the Advent logo and Advent Software are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
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