AIM and B-Source enter into partnership on the delivery of cleansed reference data to Avaloq
Released on: September 24, 2008, 6:06 am
Press Release Author: AIM Software
Industry: Software
Press Release Summary: ZURICH, LUGANO, VIENNA, September 24, 2008 - AIM Software, a global provider of reference data management solutions to the financial industry, and B-Source, a leading service provider of Business Process Outsourcing (BPO) and IT Operations Outsourcing (ITO) services to banks, today announced that they have entered into a partnership to provide clients of B-Source with a central reference data management platform based on AIM Software’s GAIN GoldenCopy.
Press Release Body: B-Source provides BPO services to banks and wealth management institutions. In the near future, these services are to be offered on the basis of the Avaloq banking system, a project which is currently being implemented at B-Source. The different requirements resulting from diverging data needs of Avaloq clients made it necessary for B-Source to integrate a centralized reference data management repository for all B-Source clients. Carmine Cammarota, Business Architect at B-Source, explains the rationale behind the partnership between B-Source and AIM Software: “We required a future-proof data management solution with a proven track record in the Avaloq community. AIM Software's certified Avaloq adapter as well as the extensive GoldenCopy functionalities were decisive for us to select them as our supplier in this area.”
Serving as the technological basis for the provision of reference data related services, GAIN GoldenCopy will be part of B-Sources’ standard offering for financial institutions. The new services will be used to feed up to 15 client in-stances with high quality reference data from sources such as Telekurs, Bloomberg and Reuters. Relying on the certified Avaloq|GAIN adapter, AIM Software’s flexible GoldenCopy solution will cover the requirements arising from B-Sources’ current and future customer base.
Currently the first clients at B-Source are being migrated to the GAIN reference data platform with an internal pro-duction start by end-September. In further project phases more and more processes will be migrated to the multi-entity GoldenCopy installed at the B-Source headquarters in Lugano. Josef Sommeregger, Head of Business Development at AIM Software explains: “We are proud that our GAIN GoldenCopy will be used for the delivery of refer-ence data services at one of the major BPO providers in Switzerland. Our strong local customer base in Ticino will serve as a basis for a close cooperation with B-Source allowing both partners to focus on their core competencies.”
As a result of the partnership, bank and wealth management institutions will be able to benefit directly from AIM Software’s established GAIN Data Management platform with more than 110 references. Drawing upon GAIN’s connectivity with more than 15 data feeds, B-Source will be able to provide added-value services in accordance with its clients’ needs. Customers can profit from an approved reference data management solution delivering them high-quality data to their Avaloq screen. By reducing time-consuming and error-prone manual data collection, clients will be able to cut down on costs and increase overall operational efficiency.
Martin Buchberger, Head of Marketing and Sales at AIM Software states: “AIM Software already services many of the leading Avaloq banks, which also contributed to the roadmap of the interface. Thereby the Avaloq|GAIN adapter guarantees an intensively tested and constantly maintained solution for data management aligned with the further evolution of Avaloq. The clearly defined responsibilities of each party will reduce implementation costs and risks for joint clients of B-Source and AIM Software.”
About AIM Software Established in 1999, AIM Software (www.aimsoftware.com) is one of the leading providers of reference data management 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 services with more than 110 references in 17 countries. 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 software platform GAIN. For further information, please visit http://www.aimsoftware.com.
About B-Source B-Source is one of the leading Swiss Business Process and IT Operations service provider (BPO and ITO) for banks in private ban-king and wealth management. The company provides BPO and ITO services to clients in Switzerland and selected countries, in compliance with the legal requirements of the Swiss and European financial regulatory authorities. All services are ISO 9001 and ISO/IEC 27001:2005 certified and the company is also SAS 70 Level II audit report compliant. Today B-Source is located in Luga-no, Zurich, Nyon and St. Gallen and has data centers in Lugano and Zurich. The current number of employees is about 550 of which 50% are bankers. For further information please visit: www.b-source.ch
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