Mumbai, November 16, 2017 - African Alliance Investment Bank (PIVOT Limited) awards Credence Analytics a multi-country contract for its investment management software iDEAL Wealth & Funds. The implementation will be on the cloud infrastructure aiming at transforming the Global Investment, Funds, Portfolio, Registry, Wealth Management, Investment Advisory & Third Party Funds Administration business through a single unified software solution.
African Alliance is an investment banking group operating in Africa providing local and on-the-ground investment banking services across the African continent. Its holding company Pivot Limited that provides third-party administration services to the financial industry in Africa and Internationally, offering both credit and investment administration services shall be used as the core back office operations to service its clients through iDEAL Wealth & Funds 6.0.
African Alliance is an investment banking group operating in Africa. African Alliance provide local and on-the-ground investment banking services across the African continent.
African Alliance has built a substantial infrastructure in terms of offices and professional teams throughout the continent to meet the investment banking needs of our clients. These include national governments, municipalities, parastatals, pension funds and large to medium-sized public and private companies.
The African Alliance group has a unique pioneering philosophy aimed at building markets while developing solutions for the clients in a local context using on-the-ground professionals. African Alliance is driven by outcomes and add real value by drawing on collective skills and experience in:
African Alliance's businesses are licensed, where applicable, by domestic regulators. Our operating activities are conducted with transparency and integrity using various official codes of conduct.
Since 1992, African Alliance has built a substantial infrastructure in terms of offices and professional teams throughout the continent to meet the investment banking needs of our clients. These include national governments, municipalities, parastatals, pension funds and large to medium-sized public and private companies.
Pivot Limited provides third-party administration services to the financial industry in Africa and internationally, offering both credit and investment administration services.
Pivot operates from Mauritius, in a favorable time zone. The Mauritian office is backed up by office in Botswana for disaster-recovery and business-continuity purposes.
Pivot offers the following services:
Investment & wealth management
Mr. Akash Anand- Chief Marketing Officer, Credence Analytics states that the success of this win completely goes to the advanced functionally rich solution that is built by our team. A software company today needs to focus on automation of business process through reduced TCO and improved ROI for its client. This is only possible if you create a functionally & technically advanced solution that covers the complex business requirements of Financial Institution through a single platform. iDEAL Wealth & Funds is flexible solution that works on service oriented architecture (SOA), Internal (STP) ensuring various business workflows can be managed through a single platform.
Mr. Vijay A Simha- CEO at Credence Analytics says this is a prestigious win for us as it marks our entry into South Africa & Mauritius financial services industry. We are very proud to have been chosen by a well recognised institution like African Alliance, South Africa to be the vendor of their choice. We are very eager to complete the implementation of our solution quickly and establish African Alliance as a marquee customer for our Investment Management product.
We have a lot of plans to position our various software solutions for financial services players in South Africa & Mauritius extending beyond fund management & administration into bank and corporate treasuries. Along with the success we have enjoyed in Nigeria, we believe this win will allow us to extend our presence in African more.
About Credence Analytics
Credence Analytics is an International software solution provider for over 25 years having marquee clients across Asia, Middle East & African markets. In its home market i.e. India, its clients comprises of leading Banks & Institutions like Reliance Nippon Asset Management (One of the Largest Asset Management Companies of Indian subcontinent), State Bank of India (Largest Bank in India), ICICI Bank (Largest Non-Government owned bank in India), SBI Life Insurance (Second largest life insurance company in India) and SBI Associate Banks (Largest Banking Group in India). Globally Credence Analytics has presence in South East Asia, Middle East, and African Countries with clients in Nigeria, Vietnam, Oman, UAE, Sri Lanka and Philippines. The strength of Credence Analytics is its strong domain expertise in the areas of Treasury, Investment Management and Risk Management. The Firm Strongly believes that its role goes beyond providing software solution by actively implementing the solution and advising the customer on how to use the software to the fullest extent.
Except for the historical information contained herein, statements in this release, which contain words or phrases such as "will", "would", "expect", "believe", and similar expressions or variations of such expressions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of our principal international markets, the performance of the industry sectors in which our clients are based, the performance of the information technology industry sector world-wide, competition, our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of our growth and expansion in business, technological implementation, changes, advancements, and redundancies, the actual demand for software products and services, or the future potential or feasibility thereof, changes in revenue, income or cash flows, our market preferences and our exposure to market risks, as well as other risks. Credence Analytics undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.