Asset management software provider Objectway has signed a distribution agreement with Lebanon-based banking software firm BML Istisharat.
The deal is a central part of Italy-based Objectway’s strategy to target the Middle Eastern market.
Under the terms of the arrangement, Objectway’s digitial wealth management and robo-advisory products will be packaged together with BML’s various banking and insurance solutions and distributed to wealth and investment managers in the region.
According to Objectway’s chief business development officer Peter Schramme, the deal will be “a definite plus for firms looking to harvest the benefits of digital technology”.
In addition to the growing use of digital investment services, Objectway believes the increasing compliance requirements for wealth and investment managers in the region will be a driver for digital platform adoption as the market moves away from manual processes.
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