, NAIROBI, Kenya, Jun 5 – American Financial software company, SunGard Financial Systems (SunGard) is set to open a new office in Nairobi to serve growing demand in East Africa.
The office will provide its existing customers in Kenya, Tanzania and Uganda with professional services, training and project support, and function as a sales and account management base to expand and service new customers in the broader East African region.
With existing offices in Cape Town, Johannesburg and Tunis, Nairobi will mark SunGard’s fourth regional operating office in Africa.
The company is supporting the local financial industry with the underlying technology and services which enable clients to bring new products to market quickly, automate their business processes, implement tighter risk management practices, and meet required regulatory demands.
“With East Africa’s sizeable and strong developing financial services market, there is an increasing need for sound market regulation and compliance. As we focus on the region’s positive economic growth and expanding client network, we are very excited about our strategic investment in East Africa and look forward to offering our customers a more efficient, competitive and industry aligned solutions and service delivery,” said Fred Manthe, Managing Director East Africa SunGard.
SunGard is one of the world’s leading financial software companies, with annual revenue of $2.8 billion providing solutions for financial services, the public sector and education.
SunGard currently supports over 140 customers in Africa, which includes banks, securities firms, hedge funds, pension funds, asset managers, energy and commodity trading firms, insurance companies, corporations and government entities in 15 African countries.
The company noted that countries in East and Central Africa had undergone a considerable and positive transformation in recent years.
The sub-Saharan mobile money revolution alone had enabled Kenya to claim a leading position in the financial services arena, with banks offering a diverse range of new products such as loans, savings accounts, mortgages and insurance.
The primary purpose of SunGard’s systems is to automate the many detailed processes associated with trading, managing investment portfolios and accounting for investment assets.
These solutions address the processing requirements of a broad range of users within financial services, including asset managers, traders, custodians, compliance officers, treasurers, insurers, risk managers, hedge fund managers, plan administrators and clearing agents.