Aim Software, a leading provider of reference data management solutions to the financial industry, and Sintea S.r.l. a major provider of front and back office platforms in Italy and Ticino, announced today that Cornèr Banca has selected AIM Software's data management solution Gain in combination with Sintea's Security Master File Galileo for the integration of price, static and corporate actions data provided by SIX Telekurs as well as Bloomberg.
Cornèr Banca, one of the leading private and independent Swiss banks located in Lugano, focuses on private banking, lending and credit card management. Owing to a rising complexity in internal data management processes, Cornèr Banca decided to take in a solution which allows for an enhanced integration of prices, basic data and corporate actions into its back office environment. Together with its partner Sintea Servizi Informatici, AIM Software is currently implementing a comprehensive security master file solution at Cornèr which will act as a data hub for Telekurs VDF as well as Bloomberg data.
The selection of the system followed a comparative analysis of competing data management suites. Cornèr Banca decided to go for GAIN|Galileo for its cost efficiency and connectivity to 15 different data feeds and as well as its easy and quick adaptability to customers' requirements.
"With the two main data sources Telekurs and Bloomberg, it was becoming necessary for us to adopt a data centralization strategy," said Giuseppe Zambetti, Vice President of Organisation and IT at Cornèr Banca. "The solution acquired from Sintea and AIM Software meets our needs. The automatic data processing will help us to improve our level of STP which considerably reduces our total costs and processing effort."
The central data platform aims at a reduction of error-prone and time-consuming manual interventions by introducing a workflow driven and rule based data selection process which improves the efficiency of Cornèr Banca's internal data management processes.
The implementation of the GAIN Data Management solution was effectively started in September and is set to go live at the beginning of 2009. The mature level of the parameterization proposal rolled out with the initial installa-tion of the product guarantees a fast deployment at Cornèr Banca. "By building on pre-built business rules and processes alreaddy adapted to the specific needs of the local market, we were able to substantially reduce implementation time and effort with obvious advantages both for the client as well as the provider", explains Josef Sommeregger, Vice President Business Development at AIM Software.
"We are pleased to welcome Cornèr Banca in the extensive GAIN user pool in Switzerland," continues Martin Buchberger, Head of Marketing and Sales at AIM Software. "Based on its scalability, GAIN bridges the gap for our clients between a solution that solves their business challenges today, while providing them with an extensible application platform for the future."