NDB Aviva Wealth Management selects Advent’s solution to support growth

Advent Software, Inc., a leading provider of software and services for the global investment management industry, last week 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 Hakan 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.”

Advent Software, Inc., a global firm, has provided trusted solutions to the world’s financial professionals since 1983. Firms in more than 60 countries count on Advent technology to run their mission-critical operations.

Advent’s quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling operational risks and costs. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organisation.

About NDB Aviva Wealth Management NDB AVIVA Wealth Management Limited is the largest private sector Wealth Management Company in Sri Lanka with over USD 500 Million of funds under management.

NDB AVIVA Wealth Management Limited is a joint venture between National Development Bank Plc (NDB bank), the only true universal bank in Sri Lanka and AVIVA Asia Holdings, part of the sixth largest insurer in the world. It is independently owned and managed by a highly qualified and experienced team of professionals, assisted by best in class systems.

The local expertise of the NDB bank and the global knowledge of AVIVA enable us to deliver new and innovative savings and investment solutions to the Sri Lankan market. Our comprehensive product offer caters to the investment needs of a wide range of clients, whether it’s a new born or a retiree.

‘myeaglefunds’ is a suite of risk rated mutual funds, managed by NDB AVIVA Wealth Management, which either singularly or in combination offer a powerful Wealth Planning solution to clients. This unique proposition will enable our clients to have reliable and easy access to investments ranging from shares of companies, corporate debt to government securities.

NDB AVIVA Wealth Management Limited is licensed with and regulated by the Securities and Exchange Commission of Sri Lanka (SEC) as an Investment Manager.

Globacom FZ LLC is a professional services company with main office in Dubai, UAE, providing information technology services and products to the financial industry. Globacom is also a certified Advent Software outsourced partner providing professional services to their clients based in EMEA and South East Asia.

Globacom is committed to bringing its clients a consistently high level of service. Our competent consulting and development teams have a long history of implementing, managing, and integrating with Advent(R) products. Our team includes software architects, systems integrators, software developers and testers.