Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that NDB Aviva Wealth Management has selected Advent's wealth management solution, which covers portfolio, client relationship and trade order management.
Colombo-based NDB Aviva Wealth Management is Sri Lanka's leading asset management firm, offering wealth management and asset management services to provident funds, mutual funds and other institutional funds.
NDB Aviva wanted to improve its operational efficiency and achieve industry best practices, to enable it to develop its institutional investor client base and increase client service levels. NDB Aviva is also expecting to achieve rapid growth in the coming years, and needed a scalable system to meet its future needs as well as its current requirements. After looking at several vendors, the firm decided to replace its previous system, DST Hi-Port, with Advent's wealth management solution.
"We decided to partner with Advent when they demonstrated that they could meet our specific requirements," said Prabodha Samarasekera, chief executive officer at NDB Aviva Wealth Management. "Their industry leadership and focus on compliance, along with the global standards of their performance reporting system were key points for us, as were the presence of their regional support team and their partnership with regional player Globacom LLC. We were also challenged with the task of migrating 25 years' worth of historical data, which was carried out by Globacom LLC, UAE. They were able to bring together a team of professionals with deep business and technical knowledge."
"That a leading firm like NDB Aviva has chosen Advent is testament to our ability to deliver great service to wealth management firms in Asia," said Håkan Valberg, Senior Vice President and General Manager, Advent Software EMEA. "The combination of our insight into wealth management businesses - and NDB Aviva's needs in particular - and of our solutions designed to help improve these businesses was key in making us stand out from the competition."
"Apart from leading the Advent implementation team, we also took up the challenge of migrating 25 years' worth of historical transactions into Advent's APX, with changes affecting almost a million records" said Vijay Kartha, chief executive officer at Globacom LLC. "Taking up a project of such magnitude and complexity shows the maturity of our data conversion tool and methodologies that can be used for migrating data from any other portfolio management system into Advent's APX."