Aim Software, a global provider of reference data management solutions to the financial industry, today announced that Privatbank IHAG Zürich, a Swiss private bank, has successfully extended its existing GAIN Data Management installation by the Gain | Ambit Apsys interface for the daily update of static data.
The interface, developed in close cooperation with Privatbank IHAG, helps the bank to further increase the degree of automation and represents an important new offering for AIM Software's Ambit Apsys user pool.
Privatbank IHAG has been relying on GAIN Data Management since 2002 for the processing of SIX Telekurs VDF and Reuters data as well as for managing the storage, versioning and mapping of the data. Growing demands from the market made it necessary for the bank to further enhance the daily updating of static data. After substantially contributing to the development of the GAIN | Ambit Apsys security creation interface as a pilot customer, the bank decided to extend its long-standing cooperation with AIM Software to create the new GAIN | Ambit Apsys daily update interface. Privatbank IHAG's profound know-how regarding the Ambit Apsys banking system and its close collaboration with SunGard as well as AIM Software's expertise in data management, were the foundation of the efficient extension of the GAIN Data Management platform.
"Our positive experience with the GAIN Data Management platform in the past and our need for an automatic update interface for static data made us take the decision to further intensify our cooperation with AIM Software," explains Daniel Albisser, First Vice President at Privatbank IHAG. "Our joint effort has led to the creation of a comprehensive interface that helps us to reduce the manual handling of data and boost the degree of automation in our organisation."
The joint project resulted in a fully fledged GAIN | Ambit Apsys mutation interface that builds on the mutation logic in GAIN to automatically feed daily changes of static data into the banking system without manual interaction. The interface went live at Privatbank IHAG in January 2010. In addition to the GAIN | Ambit Apsys security creation interface, Privatbank IHAG can now profit from the daily automatic updating of static data directly in Ambit Apsys. In the next few months the interface will be implemented at numerous other AIM Software clients relying on the SunGard banking platform.
"The new interface is a milestone for our entire Ambit Apsys user pool", explains Josef Sommeregger, Vice President Marketing and Sales at AIM Software. "Since we put new functionalities at the disposal of all customers, other financial institutions will also be able to benefit from the mutation interface that allows them to concentrate on their core competencies."
"I am very pleased that we have been able to further enhance the GAIN Data Management solution based on our long-standing collaboration with Privatbank IHAG," concludes Martin Buchberger, Head of Marketing and Sales at AIM Software. „The new GAIN | Ambit Apsys interface will help banks and financial institutions to reduce costs related to data management while increasing their overall level of automation."