SEDCO chooses wealth suite from 3i Infotech

Saudi Economic and Development Company (SEDCO) chooses 3i Infotech to provide the Sharia-compliant private firm with a wealth management suite

Tags: 3i InfotechBanking and financeSaudi ArabiaSaudi Economic and Development Company - SEDCO
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SEDCO chooses wealth suite from 3i Infotech Chawla: We are confident 3i Infotech will manage and support SEDCO’s future growth.
By  Nathan Statz Published  September 2, 2009

Saudi Economic and Development Company (SEDCO) has inked an agreement with 3i Infotech to provide SEDCO with a financial management system.

As part of the deal, 3i Infotech will be rolling out its C-Matis solution in the offices of the Sharia-compliant private company. According to a statement released by 3i Infotech, C-Matis will centralise the wealth management, portfolio management and relationship management of operations and facilitate direct and efficient reporting to the stakeholders of SEDCO.

"In line with the evolving market environment, SEDCO's business model is becoming more and more dynamic, and the company therefore requires software analytical tools and business solutions that can aid our operations and marketing efforts. SEDCO has always played a pioneering role in the sectors in which it operates in the Kingdom of Saudi Arabia and abroad. Today, we are looking at accelerating our innovations in the areas of wealth management, asset management and fund management operations. Partnering with 3i Infotech will clearly assist us in meeting our and clients objectives," said Ahmed S. Banaja, CEO of SEDCO.

"Following a rigorous tender process, we found 3i Infotech's highly dynamic and scalable C-Matis solution best suited to meet our requirements," added Banaja.

The 33-year old company has a significant private wealth management operation in the Kingdom, with over 3,500 employees.

 "As a global IT solutions provider, we understand the dynamic nature of SEDCO's business and are confident that 3i Infotech will reliably manage and support the future growth of this company," explained Pankaj Chawla, CEO and president of 3i Infotech Middle East, Africa, Russia and the CIS.

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