US-based Advent Software has said that FirstRand Group, a South Africa-based financial institution, has selected its Advent Portfolio Exchange (APX), an integrated portfolio and client relationship management solution, and Moxy, a 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.

According to Advent Software, FNB Wealth Segment chose APX to replace an in-house developed mainframe solution previously used to manage its core business. APX will offer increased efficiency and accuracy in asset registration and client reporting resulting from the seamless integration of portfolio and client management data.

Jarret West-Evans, chief information officer at FNB Wealth Segment, said: “Advent’s wealth management solutions help us differentiate our product offering and service capabilities from our competitors. With Advent, we now have a technology platform that will allow us to grow our business and deliver a superior client experience.”

Hakan Valberg, senior vice president and general manager for EMEA at Advent Software, said: “The ability to respond to clients quickly and with accuracy and transparency is critical in today’s fiercely competitive environment. 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.”