Kuwait Financial Centre “Markaz”, established in 1974 and listed on Boursa Kuwait , builds its reputation as the leading asset management and investment banking institution in the Middle East. The company’s Assets Under Management (AUM) as of 31 March 2021 is KD 988 million. The asset management services it provides include investment advisory services, GCC and international investments and private equities.

“In a market with a multitude of investment options and changing regulatory environments, finding a Wealth Management System that caters to our niche requirements was very difficult. After exploring a range of international solutions, we found VESTIO as the system capable of answering all the challenges that we, as an Investment Company, face nowadays.”

Hussein Zeineddin, CFA and Executive Vice President of Kuwait Financial Centre “Markaz”

With the boom of its business, Markaz was on a quest to optimize its operations and improve client communication. On the one hand, operations, including fast, accurate, and validated data entry, strict compliance to regulations, seamless integration among system components, straight-through processing and fast and thorough reporting had to be fully optimized in order to save time and provide better and timely services to the client.  On the other, as the internet had become the main means of communication, near real-time and online communication with the client had become a must.

As a solution for these challenges, VESTIO was the natural choice for Markaz because of its agility, flexibility, scalability, and wide coverage of wealth and asset management features.  For the past 5 years, Markaz was able to benefit from numerous additional features, currently unavailable in other solutions, easily, quickly, and cost-effectively.

With the implementation of VESTIO, Markaz has been able to automate its operations including the automated integration with other solutions such as Oracle Financials, where all financial transactions are processed straight through and posted automatically.  Internal and client reporting has never been easier; single and multiple reports are automatically generated and shared with beneficiaries without prior monitoring or manual intervention. Enhancing client experience and effective communication –key focus areas for Markaz – has been effectively attained through the introduction of a Client Portal for real-time reporting and communication along with a full-fledged mobile app.

In keeping with its business growth and sustainability objectives, Markaz has been relying on VESTIO for its comprehensive coverage of the entire investment chain and the most important asset classes in order to:

  • Control operations more efficiently
  • Provide in-depth data analysis and real-time data collection
  • Ensure operational compliance with region-specific and international regulations
  • Provide detailed client assessment with its powerful KYC Data Collection
  • Reduce the cost of obtaining, maintaining, and operating assets
  • Reduce operational risks and offer market risk analytics
  • Build and receive ad-hoc alerts and notifications through the flow of information
  • Provide clients with real-time information on market info and portfolios via customer website portal and mobile app
  • Provide clients with the full monitoring and tracking of transactions and alerts through automated emails and SMS