Advent Software (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that ANB Invest is live on Advent's platform for asset management to deliver portfolio, client relationship, trade and fund order management.
As a provider of Sharia-compliant and conventional funds for retail clients, Riyadh-based ANB Invest needed a solution to meet their evolving needs and business growth, which their legacy system could no longer manage. They also demanded a platform that would offer broader functionality and more operational efficiency.
"We chose Advent's platform for asset management because it is a fully integrated solution with the capacity to scale in line with our growth in assets under management and subscribers. It met our business as well as our operational requirements, from increased efficiencies of back office operations to audit trails," said Gary Littlejohn, CEO at ANB Invest. "We can run all of our funds on the solution, including open-ended and close-ended funds, ETFs, and funds offered on both Sharia-compliant and other bases. Advent has enabled us to increase automation in functions like subscriptions, redemptions and regulatory reporting."
"Advent's fully integrated, scalable and flexible technology has once again proven to be a winning solution to address our clients' business and operational needs," said Håkan Valberg, Senior Vice President and General Manager, Advent Software EMEA. "We're delighted that ANB Invest has selected Advent's platform for asset management, adding to our roster of Middle Eastern clients. We look forward to providing them with ongoing support as a true long-term partner helping to grow their business."