AIM Software successfully certifies GAIN platform with Avaloq
Released on: September 18, 2008, 4:46 am
Press Release Author: AIM Software
Industry: Financial
Press Release Summary: VIENNA (Austria), 18th September 2008 - AIM Software, a global provider of reference data management solu-tions to the financial industry with more than 100 references, and Avaloq, the Swiss market leader in the field of standard banking software, today announced the certification of AIM Software's Avaloq adapter, which is based on the GAIN Data Management platform.
Press Release Body: In order to standardize the data exchange between data feeds and the Avaloq Banking System, Avaloq and AIM Software entered into a joint project to certify the GAIN|Avaloq adapter which has been in productive use with leading Avaloq banks since 2003. Adrian Bult, Chief Operating Officer at Avaloq explains the rationale behind this investment: “Avaloq maintains a network of specialists with first-class partners in different areas enabling us to offer our clients a comprehensive all-in-one solution. Given our customers’ feedback, we realized that a proven and certified interface to financial market data was essential. With AIM Software's broad user base and solid track record in the Avaloq community it was a clear choice for us to extend our partnership.”
The objective of this project for Avaloq (www.avaloq.ch) and AIM Software (www.aimsoftware.com) was to streamline the integration of their two established software solutions by offering a certified package delivering out of the box what banks need in reference data management. Back-office users can now request data for new instruments directly through an Avaloq screen, with GAIN delivering all necessary data without any time-consuming or error-prone manual data collection. The adapter can both be provided as an installation or as a hosted service.
On top of that GAIN can offer a Golden Copy solution with cleansing and scrubbing functions and exception han-dling to secure the quality of data delivered to Avaloq from internal and external sources. Martin Buchberger, Head of Marketing and Sales at AIM Software points out: “For the first time, a fully tested and standardized data feed interface for the whole range of the Avaloq business bus can be provided, not only for static data and pricing data but also for all corporate event types, an extent of automation that we could only achieve based on the modern business bus interface of Avaloq.”
As a result of the project, clients have now full access to a complete set of documentation and frequent release notes. Since AIM Software adjusts the Avaloq adapter and the metadata of the data feeds to changes, the maintenance and migration efforts to new Avaloq releases are very low. Moreover, customers can rely on the guaranteed release and support policy of the adapter giving them full investment and upgrade protection.
As proven in more than 10 Avaloq projects, the GAIN|Avaloq adapter can be quickly configured to customer specific needs, since it is fully aligned with the Avaloq data model. The certified interface helps to improve overall operational efficiency by increasing the level of straight through processing of data feed messages into Avaloq. The extensively tested adapter minimizes project risks and costs by reducing the efforts of the implementation to a minimum, targeting a fast return on investment.
“Since we saw the success of Avaloq as a leading-edge banking technology provider, we decided to extend our data management solution to utilize the full range of functions offered by Avaloq”, states Buchberger. “Based on the certified Avaloq adapter we can now offer fixed price projects which will raise the acceptance of a customer to pursue an integration project.” Buchberger continues.
About AIM Software Established in 1999, AIM Software (www.aimsoftware.com) is one of the leading providers of data management and risk man-agement solutions for financial markets, with offices in Switzerland, Austria, the USA, Hong Kong and Japan. Based on the worldwide service and support partner network, AIM Software provides internationally established software solutions and ser-vices with more than 110 references in 17 countries in Europe, the United States and Asia. Supported by the large client base, AIM can offer low risk and low cost all-in-one software packages, based on its industry proven data management and risk man-agement software platform GAIN. For further information, please visit http://www.aimsoftware.com.
AIM Software annually publishes its Global Data Management Survey (www.dmstudy.info). This industry wide research is designed to provide insights into the driving forces, challenges and planned investments for reference data automation and risk management. The survey reflects the statements of reference data managers from about 500 financial institutions in 65 coun-tries.
About Avaloq Group AG The Avaloq Group (www.avaloq.ch), with branches in Luxembourg and Singapore, is the Swiss market leader in the field of stan-dard banking software. For over a decade, the Swiss company has been developing and marketing the Avaloq Banking System. It is trusted by leading financial service providers in private, retail and universal banking in international financial centers around the globe. A network of specialists with first-class partners in the areas of implementation, software, service and technology enables Avaloq to offer its clients a comprehensive all-in-one solution – a modular, innovative and integrated standard software for the financial sector.
Contact: Avaloq Evolution AG Allmendstrasse 140 8027 Zürich Switzerland
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