LONDON and SAN FRANCISCO – September 21, 2010 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that Jadwa Investment has selected Advent Portfolio Exchange® (APX), Advent’s portfolio and client relationship management solution, and Advent Tradex™, a fund order management solution to streamline operations and support client service capabilities.
Riyadh-based Jadwa Investment is a leading investment house in the Kingdom of Saudi Arabia and among the Kingdom’s largest by assets under management. The firm is a pioneer in the field of Shariah-compliant investment services, developing innovative and market-leading investment and financial products tailored to the needs of individual, corporate and institutional clients. Jadwa Investment offers a breadth of investment services for clients including dealing, investment management, custody, and advisory services.
Jadwa Investment wanted to upgrade from its previous system to a solution that could provide higher levels of automation and reduce manual intervention in its operations. The firm also sought a technology platform which had functionality to provide enhanced risk management, performance measurement and reporting capabilities. Through their evaluation process, Jadwa determined that APX and Advent Tradex™ would meet the firm’s requirements, while offering flexibility and scalability to accommodate future growth. Access to local solution support, provided through SISCOM, Advent’s premier consulting representative in the Kingdom of Saudi Arabia, was another important consideration in Jadwa Investment’s decision to choose Advent.
“Advent ticked all the boxes we were looking for in a technology partner,” said Mr. Abdullah Al Eisa, Chief Operating Officer at Jadwa Investment. “Its suite of solutions provides us with the core functionality and range of add-on modules we needed to meet our business requirements. As a result, we will be able to bolster our operational efficiencies, obtain better risk management and performance, and provide improved service to clients. The availability of Advent’s local implementation and support team then sealed the deal.”
“The combination of our industry-leading product suite and local knowledge and support infrastructure has made Advent a premier single solution vendor for investment management organizations in the Middle East,” said Håkan Valberg, Senior Vice President and General Manager, Advent Software EMEA. “Thanks to the expertise provided by SISCOM, Jadwa now can enjoy the benefits of a comprehensive and automated solution to support its investment operations.”
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.
About Advent Tradex™
Advent Tradex™ is ideal for organizations seeking a reliable, web-based fund distribution platform. With Advent Tradex™, an unlimited amount of funds and their associated order types are made available to client advisors, branches, agents and the end clients. The order flow from initiation to back-office and through to the funds’ administrators becomes highly automated – a process which otherwise is very labor intensive and error prone. In addition to subscriptions and redemptions, Advent Tradex™ elegantly handles fund switches, model orders, savings/pension plans, currency dealing, and fund and cash transfers. Advent Tradex™ also manages fees and sales commissions. For more information on Advent Tradex™, visit https://secure.advent.com/info/pr_tradex.
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.
SISCOM is a premier professional services organization in Saudi Arabia providing consulting and systems integration services in collaboration with global technology leaders. SISCOM is an established and trusted premier consulting representative to many leading commercial, industrial and public sector organizations in the Middle East, enabling all clients to better address the most complex business challenges to enhance their efficiency, competitive advantage and profitability. SISCOM supports clients in developing, planning, designing, building and managing technology solutions, integrating applications and processes across their operations, and increasing their ability to enhance relationships with suppliers, customers, employees and business partners. To learn more about SISCOM, visit www.siscom.com.sa.
About Jadwa Investment
Jadwa Investment is a Saudi company regulated by the Saudi Arabian Capital Markets Authority and offers a complete range of Shariah-compliant investment services. Jadwa's vision is to be a world-class investment bank rooted in Islamic values and committed to providing customized shariah-based financial solutions to institutional and individual investors. The company has carved a niche as a specialist in the Saudi and GCC markets, winning multiple awards including 'best private equity house' (PEW MENA) and for the most 'innovative financial deal of 2008' (EuroMoney 2008). Globally, it has forged strategic alliances with leading investment companies, none more important than, and including, a joint venture with Russell Investments for offering shariah-compliant funds and services.
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.
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