Albilad in S.A. selected IMSplus Custody to effectively manage their operations

7 July 2016

Profile Software, an international financial solutions provider, today announced that Albilad Capital, the investment arm of Albilad Bank, one of the largest banks in Saudi Arabia selected IMSplus Custody to deploy in their newly created custodian services department so as to experience automation and compliance.

Established in 2008, Albilad Investment Company "Albilad Capital" - licensed by Saudi Capital Market Authority - offers a range of investment services and solutions aimed at individual as well as institutional and corporate customers. It operates under Islamic Sharia principles, with paid up capital of SR 200,000,000. Since the Company’s establishment, the Investment Banking Division provides financing from Equity Capital Markets (ECM) and Debt Capital Market (DCM) for clients in different sectors, including Oil & Gas, Petrochemicals, Real Estate and Telecommunications.

Following a thorough international vendor selection process, Albilad Capital selected IMSplus Custody to manage their newly created departmental needs so as to effectively address the requirements for multi-entity and multi-asset class custody processes including local and international network. Albilad will be able to experience full trade life-cycle management with the company’s set workflows, ensure control via the compliance rules engine, calculate fees and tax policies, simplify reconciliation and benefit from the parametric transactional and MIS reporting.

The communication with counterparties will be based on international standards using standard protocols and defined connectors, while ready to use interfaces are available for market data providers. Furthermore, Albilad Capital will be in a position to offer advanced custodian services to their clients by utilising IMSplus’ sophisticated portfolio reporting functionality and performance analysis features. Keeping up with the latest technology standards, Custody’s clients will be able to access anytime and from anywhere a range of services through the Web solution, enabling them to stay on top of their investments. The additional functionality provided was one of the reasons that Albilad Capital selected the IMSplus solution over competitive ones.

IMSplus is a leading investment management platform that comprehensively covers all areas of investment ranging from private wealth management to asset management and custody. The sheer focus on functionality rich solutions provides the needed capabilities to international financial services institutions to excel in their domain while easily incorporating new modules or solutions as the requirements develop. Profile‘s strong regional and international team both directly and via partners provide continuous support and implementation methodologies to better serve each client’s needs.

Founded in 1990, Profile Software is a specialised software solutions provider with offices in Geneva, Dubai, London, Singapore, Athens, and Nicosia, delivering market-proven solutions to the Investment Management and Banking industries. Profile Software is recognised as an established and trusted partner in a number of regions in Europe, Africa and Asia, offering a wide spectrum of solutions to the financial services sector. Profile Software’s solutions enable organisations to align their business and IT strategies while providing the necessary business agility to proactively respond to the ever-changing market conditions. 

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development