Gulf Capital Investment Company KSCC (“InvestGB”), the investment arm of Gulf Bank, announced that it has gone live with Avaloq, a global leader in private banking and wealth management technology, to serve InvestGB’s individual and institutional clients in Kuwait and the wider Gulf Cooperation Council (GCC).
InvestGB selected Avaloq to build a single, harmonized operating environment across its business and to elevate the digital experience it offers clients. By unifying wealth management, portfolio management and fund administration on a single Avaloq platform, InvestGB has established one operating environment across its business. The milestone marks InvestGB’s first step into a new phase of digital wealth and investment management and marks Avaloq’s first go-live in Kuwait.
The implementation forms a key component of InvestGB’s broader digitalization strategy. By operating on a single platform, the firm is well positioned to improve operational efficiency, scale its business and optimize total cost of ownership across infrastructure, software, implementation services and operational teams.
Mr. Samer Obaid, Managing Director of Information Technology at InvestGB, commented:
“Going live with Avaloq is a major milestone in our digital transformation journey and reflects our commitment to innovation and our mission to deliver long term value to our clients. With Avaloq’s advanced technology now fully operational, we are strengthening our wealth management capabilities, fostering growth through innovation, and positioning ourselves to address the evolving needs of our clients. Most importantly, it enables our teams to focus more of their time and energy on delivering exceptional value for our clients.
From her side, Ms. Jinnan Hussain, Senior Vice President of Information Technology at InvestGB, added: “This go live is the result of months of close collaboration between our technology and business teams to ensure a seamless transition onto the Avaloq platform. The new infrastructure gives us a stronger technical foundation, tighter system integration, and greater agility to support InvestGB’s continued growth. We greatly appreciated Avaloq’s commitment, expertise and clear communication throughout the project.
Mr. Akash Anand, Managing Director for the Middle East, Africa and India at Avaloq, remarked:
“This is a landmark achievement for both InvestGB and Avaloq, and we are proud to see InvestGB go live as our first client in Kuwait.
He added: “Together, we have delivered a transformation that will help simplify the company’s operations and increase efficiency. We would like to thank the InvestGB team for their close collaboration and market expertise, which played a vital role in the success of this program. With this foundation now in place, we look forward to continuing our partnership as InvestGB advances the next phase of its digital transformation journey.”
At a time when financial institutions across the GCC face mounting pressure to improve efficiency and control costs. And keep pace with evolving regulatory requirements, InvestGB has set a successful example of how institutions in the region can reduce complexity and accelerate innovation by consolidating their operations on a single platform rather than relying on fragmented systems.
