Advent Software (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 TradexTM 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."