Norway's KLP licenses AIM data management technology

Source: AIM Software

AIM Software, a leading provider of reference data management solutions to the financial industry, announced today that KLP Kapitalforvaltning ASA has selected AIM Software's data management platform GAIN for the integration of price, static and corporate actions data provided by Bloomberg and Reuters.

KLP specializes in offering insurance and financial services to the public sector in Norway.

KLP required a data integration platform that supports the direct import of stocks and bonds data from among others Bloomberg and Reuters. The goal was to reduce manual intervention and, hence, potential human errors and to improve the efficiency of KLP's internal data management processes. The scalable GAIN software platform of AIM Software acts as a data hub and loading platform for Reuters DataScope, Bloomberg Per Security and other external vendors, processing data automatically using automated workflows.

The selection of AIM Software's solution followed a comparative analysis of competing data management solutions. KLP chose GAIN for its flexibility and cost efficiency, its ability to process various types of data from 15 different data feeds and its easy and quick adaptability to customers' requirements. Based on its strong track record of 100 successful projects worldwide, AIM Software gained extensive experience and know-how in implementing data feeding platforms in financial institutions.

"With the two main data sources Bloomberg and Reuters, it was becoming necessary to implement solid data centralization strategies and straight-through processes," said Kåre Østerud, Head of Reference Data Group at KLP. "We chose GAIN for its simple, intuitive, and yet comprehensive capabilities. AIM met our criteria and stood out among the competition for the maturity of its product and the breadth of its functionality. It was also important to have a full audit trail for reference data. Moreover, with an initial implementation time of only two weeks, we were able to reduce project risks to a minimum level and focus on our core competencies."

"AIM Software is pleased to offer KLP a platform that helps them to efficiently meet their daily needs in reference data management," said Frank Maltais, Head of Pre-Sales at AIM Software. "With industry support for our integrated GAIN platform, more and more companies are recognizing the power of a solution that solves today's business challenges, while positioning them on a technology platform for the future. We are proud to welcome KLP into the AIM customer group and look ahead to extending our activities in Northern Europe."

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