Aim Software, a global provider of reference data management solutions to the financial industry, today announced that the Swiss private bank Finter Bank Zurich has chosen Aim Software's Gain Data Management platform provided as an ASP service by SFB services4banks.
The solution delivers data from SIX Telekurs and Reuters into Finter's banking platform Ambit Apsys from SunGard.
Finter Bank Zurich is an independent Swiss private bank dedicated to maintaining strong partnerships with its customers. Owing to a change of their core banking application, Finter Bank Zurich required a proven data management solution for the delivery of data from SIX Telekurs and Reuters as well as the automatic creation of securities in the newly introduced banking system Ambit Apsys. AIM Software's and SFB's joint offering to provide the customer with GAIN as an ASP service that automatically delivers the requested data, met the bank's requirements and allows Finter Bank Zurich to concentrate on its core business.
"We required a data service that allows us to receive high quality data from SIX Telekurs and Reuters DataScope," explains Beat Brechbühler, Senior Project Manager at Finter Bank Zurich. "The solution provided by AIM Software and SFB enables us to access a state of the art platform without having to install software on site and to take care of the maintenance. As a result, we are able to concentrate on our core competencies and can handle data requests faster and more efficiently."
After the specification phase of the project in July, the implementation and test phase was finished at the end of September. The installation went live on October 1. After a short project duration of only 3 months, Finter Bank Zurich can now profit from the daily delivery of data from SIX Telekurs and Reuters DataScope Select. The delivery of data is handled automatically via FTP and does not require manual intervention by Finter Bank.
Moreover, GAIN features an automatic security creation interface which enables Finter Bank to generate new securities in Ambit Apsys at any time of the day. The automatic security creation also allows the bank to execute an initial load for Ambit Apsys. This has helped the customer to increase the level of STP and to reduce costs and manual effort. In the future, the installation will be extended by reports and additional data fields.
The main advantage for Finter Bank Zurich is the access to the state of the art GAIN Data Management platform without having to deal with the installation of software and the maintenance of the installation, which is taken over by SFB services4banks. "By offering GAIN as an ASP service, we are able to provide clients with high quality data while spreading the costs and efforts over a number of customers," notes Josef Sommeregger. "The short project duration and the reduced implementation effort became possible because of the deployment of GAIN together with the standard GAIN | Apsys interface, developed in collaboration between AIM Software and SunGard."
"By offering GAIN to streamline the consolidation of the financial data, we are able to provide our customers with a high level of automation," concludes Martin Buchberger, Head of Marketing and Sales at AIM Software. "With GAIN, we have always been aiming at providing a future proof and constantly evolving data management platform fully aligned with the evolution of Ambit Apsys. GAIN is already being utilized by sixteen Apsys banks in our growing community, which enables us to offer clients the shortest possible implementation time."