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Finastra Wins Investment Platform Deal with KAMCO

Financial systems provider Finastra has been chosen ahead of five competitors to provide Kuwait-based investment company KAMCO with a single software platform that will integrate all the company’s asset management operations.

Finastra’s Fusion Invest product will support KAMCO as it aims to scale up its business, extend asset class coverage and expand the range of investment solutions it offers. KAMCO says Fusion will provide automated workflows, consistent data and accurate risk analytics. Through the integrated Insight micro service, KAMCO portfolio managers will be able to give investors increased visibility of their assets and associated risk scenarios on the go.

Finastra won the KAMCO contract in a competitive pitch against five other solution providers. Fusion Invest was chosen based on its ability to support KAMCO’s growth plans through its core functionality, and its capacity to increase automation, reduce costs and boost collaboration across the organisation.

Khalid Owaida, head of IT at KAMCO, says: “Fusion Invest provides us with the scalability and functionality we need to expand our business, enhance our performance and also support our hedging and risk management capabilities. We view Finastra as a strategic partner.”

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