AIM Software Data Management System at Privatbank IHAG Extended by New Interface
September 21, 2007 (PRLEAP.COM) Technology NewsAIM Software, a leading provider of reference data management software to the financial industry, today announced that Privatbank IHAG Zürich, a Swiss private bank, has successfully expanded its back office solution by using the GAIN Data Management software.
Privatbank IHAG has been using GAIN Data Management from AIM Software for five years for connecting to Telekurs VDF and Reuters data and for managing the storage, versioning and mapping of the data. The new APSYS security data interface substantially extends the existing functionalities of AIM Software’s GAIN Data Management platform at IHAG.
“AIM Software has a range of interfaces to complex data feeds which reduces our development cost and the implementation effort” said Daniel Albisser, First Vice President at Privatbank IHAG. “This allows us to improve the quality of our reference data utilized within the bank’s back office and to increase the level of processing automation throughout the organization.”
The new GAIN | APSYS interface, based on the modular GAIN framework, imports, processes, and maps all required data to create new securities directly within APSYS at any time and within a few minutes. The solution ensures that all imported data is validated prior to the export to APSYS, resulting in time and cost savings for Privatbank IHAG and reducing the risk of flawed input.
Christian Trnka, Professional Services Manager at AIM Software, said: “By using GAIN’s workflows that consolidate and verify the financial data, we are able to provide our customers with a high degree of automation. GAIN has thereby been providing a future proof and constantly evolving platform for data management, fully aligned with the evolution of APSYS.”
Albisser stated: “By using GAIN we are able to move to an automated environment. Through the stepwise integration of the functions of GAIN we could reduce the project risk and achieve a fast return on investment.” Privatbank IHAG will further expand on AIM Software’s reference data management platform by using the GAIN | APSYS interface to automatically update income and revenue data as well as basic data on a daily basis. Both interfaces are based on the already developed mapping logic of the security opening interface.
Albisser continued: “We perceive AIM Software as a flexible company which meets the current and future back office needs and which is therefore a long-term partner of Privatbank IHAG in providing data management solutions for our banking IT environment.”
“We are delighted to further intensify our collaboration with Privatbank IHAG to provide tailor made solutions for the client’s processes based on the GAIN platform,” Trnka adds. “The modular framework of GAIN is already being used by twelve banks in our constantly growing GAIN | APSYS community, significantly speeding up the interface development and consequently reducing the costs for a single institution.”
About AIM Software
Established in 1998, AIM Software is one of the leading providers of reference data management and risk management solutions for financial markets, with offices in Austria, Switzerland, the US, Hong Kong and Japan. AIM Software is active in the major financial centres based on its service and support partner network and supports more than 100 references in 15 countries. Supported by the company's expertise in the areas of reference data management, risk management and financial instrument pricing, the creation of future proof software solutions is the cornerstone of AIM Software's business mission. For further information, please visit http://www.aimsoftware.com and http://www.dmstudy.info.
About Privatbank IHAG Zürich
Privatbank IHAG Zürich is a Swiss private bank, established in 1949, which offers services to its clients in private banking, credit services and trading. In April 2000, the bank was renamed from Industrie- und Handelsbank (IHAG) to Privatbank IHAG Zürich, symbolizing the corporate culture shift towards individuals and their private money matters. For further information, please visit http://www.pbihag.ch.
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