Aim Software signs Meinl Bank to Gain data management system
02 May 2007 | 1608 views | 0
Source: AIM Software
AIM Software, a leading provider of reference data management solutions to the financial industry, announced today that Vienna-based private bank Meinl Bank AG has selected AIM Software's flagship product, GAIN, for the management and update of financial information delivered by international data feed provider Telekurs Financial.
AIM Software manages the data capture, processing and distribution of Valor Data Feed (VDF) securities data and integrates it into the existing banking application banqpro from Hewlett Packard (HP).
Meinl Bank AG's decision to deploy the enterprise data management platform GAIN for the processing of basic data and price data was based upon two major criteria. On the one hand, Meinl Bank AG required a stable platform for the automatic processing of the whole range of VDF data, in order to ensure a high quality client reporting system. Secondly, Meinl Bank AG wanted to provide a solid basis for the execution of the compliance standards of the FMA (Austrian financial market supervisory authority) and the upcoming MiFID directive.
AIM Software's GAIN solution met these demands and is already deployed at Meinl Bank AG for the automatic procurement of the whole VDF data universe with its straight-through application processes.
Additionally, the Austrian private bank is now ready to handle EU Savings Tax data without any manual interventions. GAIN imports the corresponding financial information directly into the HPbanqpro banking environment. The interface to the HPbanqpro banking application was developed in close cooperation with HP and is designed as a standard interface, which can be implemented at any banqpro user within a short period.
Christian Trnka, professional services at AIM Software, explains:"The biggest challenge was in the technical mapping of the broad data range of the VDF feed and the HPbanqpro target application. Thanks to the mapping and process management functionalities of GAIN, we were quickly able to realize Meinl Bank's requirements."
Walter Steinek, Head of back office at Meinl Bank AG, draws a positive conclusion about AIM Software's solution: "The financial analysis solution GAIN supports us in our continuous efforts to efficiently automate the operating processes in securities management of a growing financial institution, and meets our demands with regard to its easy handling." Steinek continues, "We chose GAIN for its simple, intuitive, and yet comprehensive capabilities. AIM Software's know-how and large customer base, as well as its experience in integrating Telekurs data into existing banking applications, proved to be a decisive factor in selecting GAIN."
During the project, AIM Software arranged for coordinating the project managers of Telekurs, Meinl Bank and HP. Changes in the Telekurs feed structure will be checked and tested by AIM which will result in a more secure maintenance of the interface and faster implementation of future interface enhancements.
Trnka concludes, "GAIN as a modular platform allows for a stepwise integration and supports our clients in realizing cost savings in their daily data management. We are proud to welcome Meinl Bank into the AIM customer group and look ahead to service other HPbanqpro users."