Russia’s ZAO Raffeisenbank, a subsidiary of Raiffeisen Bank International, has selected Advent’s wealth management solutions to "automate processes" and improve client reporting as part of its private banking developments.

Svetlana Grigorian, head of private banking at ZAO Raffeisenbank, cited “reporting functionality” as one of the main reasons for choosing Advent’s wealth management solutions.  

“Thanks to the increased levels of automation, we expect the Advent solution will help us improve client service levels, productivity, risk management and overall performance,” Grigorian said in a statement.

Håkan Valberg, senior vice president and general manager for Advent Europe, the Middle East and Africa said the firm sees “great potential” in the Russian market, reflected by its increased focus on the region.

Advent was established in 1983 and has partner firms in more than 60 countries.