Clariden Bank deploys AIM data integration platform
13 July 2005 | 1895 views | 0
Source: AIM Software
AIM Software, a leading provider of reference data management and risk management solutions to the financial industry, announced today that Clariden Bank, a Swiss private bank, has successfully implemented AIM Software's reference data management platform GAIN DataDesktop to integrate financial data from Telekurs and Bloomberg into Clariden's banking application Avaloq.
Additionally, Clariden Bank will use GAIN for the processing of corporate actions data.
The proven reference data management solution of AIM Software processes Telekurs Financial's Valor Datafeed (VDF) data and Bloomberg (Data License) data into Avaloq providing a fully automated interface for the most important data.
Michael Hochstrasser, Vice President at Clariden Bank, says: "By consolidating the data feeds and centralizing the data management process, we plan to realize significant improvements in operational efficiencies and are able to deliver critical business information in a timely fashion."
The data management platform GAIN DataDesktop is a flexible all-in-one solution and is designed for an extremely fast implementation. Martin Buchberger, Head of Marketing & Sales for AIM Software, states: "We focused on Clariden's requirements and adapted our turnkey solution for specific needs, ensuring low project risk and an implementation effort of only 2 weeks net."
Clariden Bank, additionally, plans to strengthen its relationship with AIM Software by using GAIN for the management of corporate actions data. The data will be mapped into AIM Software's corporate actions diary system and reported daily. Corporate actions are being seen as the least automated - and therefore most labour-intensive, error- and risk-prone - areas in data processing within financial institutions. Hochstrasser adds: "By implementing the GAIN corporate actions module, we can further improve the communication of corporate actions and can avoid that financial information is missed."
"This new module underlines AIM Software's commitment to offer best practice solutions that are aligned with market needs and will continue to invest heavily in its products," Buchberger affirms.