Saudi Start-Up Opts for Advent

Saudi Start-Up Opts for Advent

United Financial House selects Advent’s Integrated Solutions to Support Launch and Development of Asset Management Enterprise

LONDON and SAN FRANCISCO – August 24, 2010 – Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that United Financial House has selected Advent Portfolio Exchange® (APX), Advent’s portfolio and client relationship management solution, Moxy® trade order management system and Advent Tradex™ fund order management solution. The implementation for United Financial House was led by SISCOM, Advent’s premier consulting representative in the Kingdom of Saudi Arabia. APX and Moxy® will provide a robust, integrated platform for portfolio management, reporting and trade order management.  Advent Tradex™ has been deployed to help automate the order flow of mutual and real estate funds, from initiation to back office.

Riyadh-based United Financial House is a recently-launched financial services organization, providing asset management services to private investors and institutional clients. As a new entrant to the market, United Financial House wanted an efficient and flexible technology solution that would meet its operational requirements and offer scalability to support future growth. After a detailed survey of the marketplace, United Financial House found the Advent solution suite, recommended by SISCOM, was the best platform to meet their needs.

“With Advent Software, we have a technology infrastructure with the comprehensive coverage to meet our business requirements,” said Khalid Ali Aljehani, Head of Asset Management at United Financial House. “The platform is operationally efficient, enables us to provide our clients with exceptional performance and service, and has the flexibility to handle regulatory reporting requirements. SISCOM was able to implement the solution quickly to meet our tight schedule, and will provide us with ongoing local support.”

“Having a proven and effective technology platform is critical for growth and success, whether a firm is new to the market or is long-established. United Financial House is an exciting new entrant to the Middle Eastern investment management arena, and we are thrilled the firm has chosen Advent to support its business,” said Håkan Valberg, Senior Vice President and General Manager, Advent Software EMEA. “Through the premier consulting agreement in the Kingdom of Saudi Arabia between Advent and SISCOM, we have been able to equip United Financial House with an end-to-end solution that will support the launch and continued development of its range of mutual and real estate funds.”

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 Moxy®
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.

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.

About Advent
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 SISCOM
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 strategic partner 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.

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.
 
Contacts:
Smita Topolski
Advent Software, Inc.
+ 1 415 645-1668
stopolsk@advent.com   

Daphne Marciel
Advent Software EMEA
+44 20 7631 9240
daphne.marciel@advent.com