SimCorp, a leading provider of highly specialised software for the investment industry, and Aim Software, a leading provider of financial data management solutions, have entered into a global collaborative agreement.
The agreement enables SimCorp to provide AIM Software's GAIN Data Management software to its clients, in conjunction with SimCorp Dimension, SimCorp's seamless investment management solution.
GAIN Data Management provides consolidated, cleansed data in standardised formats, based on client-defined rules, for use by downstream systems. As a result of the agreement, SimCorp's clients will be able to use GAIN Data Management to process securities prices, static and reference data and corporate actions notifications, with the resulting cleansed data being uploaded into SimCorp Dimension via a standardised interface. Consequently SimCorp's clients can mitigate risks of costly errors and avoid waste of resources associated with use of inaccurate data. They can also reduce cost and improve the accuracy of their data management processes through streamlined, automated workflows.
"The investment management industry has become more risk-aware since the financial crisis and its increased interest in ensuring cleansed, quality-assured data is part of that," said Marc Schröter, senior vice president and head of strategic research at SimCorp. "We undertook a thorough analysis of the data management market before approaching AIM Software and have been highly impressed with the company's product and expertise. Not only that but SimCorp Dimension and GAIN have a very good technological fit, we already have customers in common and AIM Software's business model is actively based on industry partnerships. We expect this agreement to allow us to create a very attractive data management offering for our clients."
"We are very pleased about this collaboration with SimCorp," concludes Josef Sommeregger, head of marketing and sales at AIM Software. "It allows both parties to concentrate on their core competencies that complement each other in an ideal way." Martin Buchberger, AIM Software's head of product management adds: "We have no doubt that our combined expertise will help SimCorp's clients to increase the overall quality of their data and they will also be able to access a wider range of data sources and tools that will allow them to add value to their businesses."