LONDON and SAN FRANCISCO – July 21, 2010 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that FirstRand Group has selected Advent Portfolio Exchange® (APX), its award-winning, integrated portfolio and client relationship management solution, and Moxy®, Advent’s industry-leading trade order management solution. The Advent platform will be implemented for a division of the FirstRand Group, namely the FNB Wealth Segment, which includes RMB Private Bank.
The FirstRand Group was created in 1998 through the merger of the financial service interests of Anglo American Corporation of South Africa Limited and RMB Holdings Limited. FirstRand is one of the largest financial institutions in South Africa, with a comprehensive range of products and services including Private Banking and Asset Management.
With expansion on the horizon, RMB Private Bank concluded that its incumbent system was not sufficient to meet the firm’s current and planned business needs. Advent’s proven and scalable front to back office wealth management solution met FirstRand Group’s requirements and provides a strategic platform which will enable RMB Private Bank to more cost-effectively grow its business.
FNB Wealth Segment, which provides trust and wealth management services, chose APX to replace an in-house developed mainframe solution previously used to manage its core business. As the division evaluated future goals, it became clear that the existing system had reached the end of its lifecycle and did not have the functionality to meet future requirements. FNB Wealth Management has found that APX offers increased efficiency and accuracy in asset registration and client reporting resulting from the seamless integration of portfolio and client management data.
“Advent’s wealth management solutions help us differentiate our product offering and service capabilities from our competitors,” said Jarret West-Evans, Chief Information Officer, FNB Wealth Segment. “With Advent, we now have a technology platform that will allow us to grow our business and deliver a superior client experience.”
“We chose Advent’s product suite because it meets our functional requirements and will scale as we grow. Because Advent’s global perspective and diverse user base feed into the ongoing development of the software, we have confidence that Advent will to continue to meet our needs going forward,” added Christian Naude, Project Manager, RMB Private Bank.
“The ability to respond to clients quickly and with accuracy and transparency is critical in today’s fiercely competitive environment,” said Håkan Valberg, Senior Vice President and General Manager, Advent Software EMEA. “The selection of Advent by FirstRand Group, one of the largest financial institutions in South Africa, demonstrates our ability to provide industry-leading solutions to help global investment firms manage complexities and succeed in a global market.”
About Advent Portfolio Exchange®
Advent Portfolio Exchange® (APX) is a comprehensive portfolio management solution that integrates the front-office functions of prospecting, marketing, and customer relationship management with the back-office operations of portfolio accounting and reporting. This enterprise solution leverages a single SQL database to deliver critical client information via an easy-to-use browser-based user interface. APX delivers improved client service with enhanced security for today’s amplified compliance environment. For more information on APX visit https://secure.advent.com/info/pr_apx.
Moxy® is the industry-leading OMS deployed at over 850 firms which automates and streamlines the trading and order management process of investment executions and allows the user to send post trade allocation results to brokers electronically. Moxy® also provides Internet-ready electronic order routing based on the industry standard FIX messaging protocol, allowing users to route trades electronically to any FIX-compliant broker or crossing network that supports the internet or other TCP/IP connections. For more information on Moxy® visit https://secure.advent.com/info/pr_moxy.
Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Firms in more than 60 countries rely 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 costs. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization. For more information on Advent products visit http://www.advent.com/about/resources/demos/pr.
About FirstRand Group
Created in 1998 through the merger of the financial service interests of Anglo American Corporation of South Africa Limited and RMB Holdings Limited, FirstRand Group is one of the largest financial institutions in South Africa. FirstRand is an integrated financial services group structured with critical mass to take advantage of the blurring of boundaries in the financial services industry and the convergence of products and services. The group provides a comprehensive range of products and services to the South African market and niche products in certain international markets.
Advent, the Advent logo, Advent Software, Advent Portfolio Exchange and Moxy are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.
Any forward-looking statements included in this press release involve risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties include continued sales of existing products, the successful development, timing, anticipated features, functionality and market acceptance of new products and enhancements, the impact of initiatives by competitors, continued uncertainties and fluctuations in the financial markets and economic conditions and other risks detailed in Advent’s most recent filings with the Securities and Exchange Commission, including, but not limited to, its quarterly reports on Form 10-Q and its 2008 annual report on Form 10-K, copies of which may be obtained by contacting Advent Software at (415) 645-1787 or by visiting Advent’s Investor Relations Web site at www.advent.com.
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