LONDON and SAN FRANCISCO – February 28, 2011 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that ZAO Raffeisenbank has chosen Advent’s wealth management solutions to automate processes and improve client reporting in anticipation of the development of their private banking activities.
ZAO Raffeisenbank decided the time was right to move from the proprietary solution they had been using for portfolio accounting and management to an enterprise-ready, purpose-built system that would enable them to improve service level and operational efficiency.
“We reviewed several vendors and chose Advent because its wealth management solution best met our needs, specifically in terms of reporting functionality,” said Svetlana Grigorian, head of private banking, at ZAO Raffeisenbank. “Thanks to the increased levels of automation, we expect the Advent® solution will help us improve client service levels, productivity, risk management and overall performance.”
“Advent continually works to gain insights into our clients’ specific business needs so that we can develop solutions that significantly improve operational efficiency,” said Håkan Valberg, senior vice president and general manager, Advent Software EMEA. “We see great potential in the Russian market and, that one of Russia’s top banks has chosen Advent as a partner for growth is testament to our increased focus on the region.”
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 businesses 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 a world-class support and services organization. For more information on Advent products visit http://www.advent.com/solutions.
About ZAO Raffeisenbank
ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 10th among the Russian banks in terms of assets, based on 2011 results (Interfax-CEA). According to the same Interfax-CEA data, ZAO Raiffeisenbank ranked 5th in terms of private deposits and 8th with regard to consumer lending.
Raiffeisen Bank International AG (RBI) regards both Austria, where it is a leading corporate and investment bank, and Central and Eastern Europe (CEE) as its home market. In CEE, RBI operates an extensive network of subsidiary banks, leasing companies and a range of other specialised financial service providers in 17 markets. RBI is the only Austrian bank with a presence in both the world's financial centres and in Asia, the group's further geographical area of focus. Around 60,000 employees service about 13.7 million customers through around 2,900 business outlets, the great majority of which are located in CEE. Raiffeisen Bank International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG (RZB). RZB indirectly owns around 78.5 per cent of the common stock, the remainder is in free float. RBI's shares are listed on the Vienna Stock Exchange. RZB is the central institution of the Austrian Raiffeisen Banking Group, the country's largest banking group, and serves as the group head office of the entire RZB Group, including RBI.
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