Johannesburg, South Africa: Advent Software,, a leading provider of software and services  for the global investment management industry, has announced that FirstRand Group has selected Advent Portfolio Exchange(R) (APX), its award-winning, integrated portfolio and client relationship management solution, and Moxy(R),

Advent's industry-leading trade order management solution. The Advent platform will be  implemented for a division of the FirstRand Group, namely the FNB Wealth
Segment, which includes RMB Private Bank.

The FirstRand Group was created in 1998 through the merger of the financial service  interests of Anglo American Corporation of South Africa Limited and RMB   Holdings Limited. FirstRand is one of the largest financial institutions in South Africa,  with a comprehensive range of products and services including Private Banking  and Asset Management.

With expansion on the horizon, RMB Private Bank concluded that its incumbent system was not sufficient to meet the firm's current and planned business needs.

Advent's proven and scalable front to back office wealth management solution met FirstRand  Group's requirements and provides a strategic platform which will enable RMB Private Bank to more cost-effectively grow its business.

FNB Wealth Segment, which provides trust and wealth management services, chose APX to replace an in-house developed mainframe solution previously used to  manage its core business. As the division evaluated future goals, it became clear that the existing system had reached the end of its lifecycle and did not have the functionality to meet future requirements. FNB Wealth Management has found that APX offers increased efficiency and accuracy in asset registration and client reporting resulting from the seamless integration of portfolio and client management data.

"Advent's wealth management solutions help us differentiate our product offering and service  capabilities from our competitors," said Jarret West-Evans, Chief   Information Officer, FNB Wealth Segment. "With Advent, we now have a technology platform  that will allow us to grow our business and deliver a superior client  experience."

"We chose Advent's product suite because it meets our functional requirements and will scale  as we grow. Because Advent's global perspective and diverse user base   feed into the ongoing development of the software, we have confidence that Advent will to  continue to meet our needs going forward," added Christian Naude, Project   Manager, RMB Private Bank.

"The ability to respond to clients quickly and with accuracy and transparency is critical in  today's fiercely competitive environment," said Hakan Valberg, Senior Vice   President and General Manager, Advent Software EMEA. "The selection of Advent by FirstRand Group, one of the largest financial institutions in South Africa, demonstrates our ability to provide industry-leading solutions to help global investment firms manage complexities and succeed in a global market."

 

 

 

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