Business wire
Strategic collaboration leverages Objectway’s cutting-edge modular solution to enhance the client experience for Markaz customers.
Objectway Expands Into the MENA Region by Signing With Kuwait Financial Centre "Markaz"
Chiara Giudici
Communication Manager
Objectway
+39 393 8229579
chiara.giudici@objectway.com
www.objectway.com
Sondos Saad
Corporate Communications Department
Kuwait Financial Centre K.P.S.C. "Markaz"
Tel: +965 2224 8000
Email: Ssaad@markaz.com
markaz.com
Objectway enters the MENA region by signing its first client in Kuwait, Kuwait Financial Centre “Markaz”, a leading asset management and investment banking firm in the MENA region. This collaboration marks a significant milestone in Objectway's growth in the region.
As a leading provider of innovative digital solutions for banks, asset managers, and wealth managers, Objectway will support Markaz in delivering an enhanced client experience for their clients, by significantly improving and automating processes and seamless client journeys.
Markaz, established in 1974, is a prominent player in the financial sector in the MENA region, with total assets under management of over USD 4.56 billion, as of 30 September 2024, with bespoke advisory services and diversified investment portfolios, with a presence in 13 countries. Over the years, Markaz has pioneered innovation through the creation of various investment channels, which enjoy unique characteristics to help widen investors’ horizons and offer unparalleled experiences across its offerings.
In line with its commitment to providing world-class services, Markaz sought a modular and best-of-breed front office solution that would align with its business objectives, comply with Kuwait's regulatory framework, and support its relationship managers (RMs) and advisors in delivering tailored client solutions.
Markaz has followed a rigorous selection process with the help of Ernst & Young Wealth & Asset Management consulting services to capture industry best practices.
Driving innovation in client journey
By adopting Objectway’s front-end solution, Markaz will gain greater operational agility, automated workflows, and enhanced data-driven decision-making capabilities for their client-facing activities, ensuring they remain at the forefront of industry best practice.
“Our strategic partnership with Objectway is a significant step forward in delivering innovative and efficient client experiences,” said Salman Olayan, Senior Vice President, Strategic Planning - Digitization & Analytics, at Markaz. “Objectway’s comprehensive understanding of our needs and their ability to deliver a configurable, scalable solution fully aligns with our vision to enhance our services, streamline processes, and enable further profitable growth.”
“We are proud to partner with such a prominent wealth and asset management firm in Kuwait on their digital innovation journey,” said Tariq Khan, Objectway Director of Sales & Business Development for UK & MENA. “This collaboration reflects our commitment to providing financial institutions with advanced, modular and scalable solutions that support personalised customer journeys, operational agility and market expansion. Together, we are setting a new standard for innovation in the MENA region.”
The evaluation process included a review of the breadth and depth of Objectway’s solution capabilities, as well as its flexibility, accessibility and configurability. Objectway's approach to implementation and delivery, financial stability and reputation, and experience with similar projects and customers were also evaluated, as well as feedback and recommendations from references. These elements were decisive in the selection of Objectway.
"The evaluation process was stringent and thorough, ensuring that we selected the most suitable solution for Markaz’s needs," said Hamdan Khan, Partner Wealth and Asset Management Consulting from Ernst & Young. "Our focus was on finding a solution that not only met the technical requirements but also aligned with the strategic goals of Markaz. Objectway’s solution stood out for its comprehensive features and adaptability."
This partnership highlights Objectway’s expertise in delivering flexible solutions that meet the unique needs of financial institutions and marks another milestone in its mission to drive digital transformation in global markets.
About Objectway
Building on more than 30 years of business and technology expertise, Objectway is an international wealth, banking and asset management software and service provider empowering clients to embrace their future challenges while providing great performance today. The Objectway software and service platform digitalises as-a-service the entire value chain of private banking, wealth and asset management, thanks to extensive capability, future-proof technology and strong investment operations expertise. It supports more than 100,000 investment professionals to manage more than €1 trillion in assets. With over €115 million of consolidated revenue, the Group is a global Top 100 fintech provider (IDC ranking). The Group has a global organisation including over 800 business and technology experts, operating from Italy, UK, Belgium, Germany, Switzerland, Ireland, UAE and Canada. Objectway clients include 250+ leading Banks, Wealth Managers, Asset Managers and Insurers in more than 15 countries.
About Kuwait Financial Centre “Markaz”
Established in 1974, Kuwait Financial Centre K.P.S.C “Markaz” is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over KD 1.39 billion (USD 4.56 billion) as of 30 September 2024. Markaz was listed on the Boursa Kuwait in 1997. Over the years, Markaz has pioneered innovation through the creation of new investment channels. These channels enjoy unique characteristics and help Markaz widen investors’ horizons. Examples include Mumtaz (the first domestic mutual fund), MREF (the first real estate investment fund in Kuwait), and Forsa Financial Fund (the first options market maker in the GCC since 2005), all conceptualized, established, and managed by Markaz.
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