Advent Software (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."