Adventity, a leading global research, analytics and business
processes firm, has entered into a joint venture with Noor Investment
Group LLC, a premier investments firm focusing on Sharia-compliant,
banking, financial and related services.
The joint venture will provide a full range of scalable end-to-end
outsourcing services including transaction processing, knowledge and
business process outsourcing ("KPO" and "BPO") and call centre
management services. The joint venture will offer its services
primarily in the Gulf Cooperation Counsel (GCC), Middle East and North
Africa regions (MENA) and Pakistan.
Through the joint venture, Noor Investment Group will be able to
leverage Adventity´s expertise in process management in the financial
services sector including assets and liabilities, card products,
insurance, fund administration, customer relationship management,
settlement and reconciliation, advisory services, detailed qualitative
and quantitative business and financial research and a broad range of
analytics offerings.
"The MENA region has always been of prime importance to Adventity,
and our partnership with Noor Investment Group further strengthens our
already solid position in the region," said Kumar Subramanian, CEO of
Adventity. "It not only provides us with an ideal opportunity to
deepen our investments in a region which we feel will be our primary
growth market, but will also bring significant value and solutions to
our customers globally. We are delighted to have been chosen by Noor
Investment Group as a partner for the Middle East."
This joint venture marks the first major investment by Adventity
in Dubai. Drawing on its specialized recruiting and training pool in
India, the company plans to establish a dedicated delivery centre in
the region to address the growing need for state-of-the-art
outsourcing solutions for the financial services industry.
"Over the last few months, Noor Investment Group has been working
with Adventity in a consulting and BPO capacity," said Hussain Al
Qemzi, Group CEO, Noor Investment Group. "We were impressed by the
company´s resources, talent and commitment to the MENA region.
Together, we saw a growing opportunity to build a world-class BPO firm
to service blue-chip companies across the region. The partnership with
Adventity enables us to capitalize on that opportunity."
About Adventity
Adventity is the fastest growing provider of strategic end-to-end
knowledge and business process outsourcing solutions to the banking,
mortgage, financial services and travel industries. With offices in
North America, Europe, Middle East and Asia, Adventity´s clients
include a broad range of Global 1000 companies as well as top
investment banks, private equity firms, management consulting firms,
multi-billion dollar asset managers and regional and global airlines.
Ranked a Top 25 Best Managed Global Outsourcing Company by the 2007
Black Book of Outsourcing, Adventity provides comprehensive and
cost-effective outsourcing solutions, including tailored research and
analytical services, middle and back office services, credit, debit
and cash cards processing, loan origination and processing,
underwriting, airline revenue accounting & recovery, fares
distribution and customer contact support. Adventity is funded and
supported by Norwest Venture Partners, CIBC Capital Partners, DA
Capital and private investors.
Additional information can be found on the company´s website:
http://www.adventity.com
About Noor Investment Group
Noor Investment Group LLC (NIG) is a company focusing on
investments in Sharia-compliant, banking, financial and related
services. Headquartered in Dubai, NIG is currently executing
aggressive growth plans to expand its portfolio of investments across
global markets. Noor Islamic Bank PJSC ("NIB"), a full service
commercial bank head quartered in Dubai is the flagship entity of, and
the primary growth engine within, NIG. NIG is also currently in the
process of establishing its Takaful business, which is to offer both
Family and General Takaful.
