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Press Release: Bank Sarasin & Co. Ltd: Reference Data Software from AIM Software successfully in use
Added: (Mon Feb 07 2005)
New York/Vienna (Austria), Feb. 7, 2005
Bank Sarasin & Co. Ltd: Reference Data Software from AIM Software
successfully in use
The data management platform of AIM Software (www.aim-sw.com), the GAIN
DataDesktop, is the key for Swiss Bank Sarasin & Co. Ltd to enable the
automation of opening instruments directly in their Avaloq banking
application.
Bank Sarasin & Co. Ltd (www.sarasin.ch) has now been using successfully the
data management solution GAIN DataDesktop from AIM Software for one year for
the processing of Telekurs Financial's Valor Datafeed (VDF), which also
includes a fully-fledged reporting system for all VDF data.
Alexander Buytenhuijs, Financial Instruments & Quantitative Methods, Bank
Sarasin & Co. Ltd, says, "We greatly appreciate the easy handling of the
GAIN DataDesktop, giving us the possibility to build up queries and to
extract data coming from any type of data feed. GAIN allows us to quickly
elaborate all new requests on our own, offering a wide range of
functionalities".
Automatic opening of instruments a key demand
The automatic opening feature of GAIN delivers all necessary fields from a
data feed without manual interference. This ensures significant time and
cost savings for the bank and eliminates the risk of flawed inputs.
GAIN DataDesktop (www.aim-sw.com) enables checks on all imported data prior
to export to the banking application, and can produce control reports, which
improves data quality. In case of exceptions, an intuitive interface
provides a view on the data flagged as faulty and risky or where the bank
has specified the data must be checked manually.
"The automatic integration from VDF data into Avaloq through the GAIN
DataDesktop provides an added value to Bank Sarasin & Co. Ltd Ltd, since the
trading room can start trading the instruments earlier," says Buytenhuijs.
Trends and tendencies in automation
In most institutions, the level of automation in data processing is still
very low. This finding is underlined by the recent AIM Global Data and Risk
Management Survey (www.dmstudy.info), which was conducted amongst over 1,700
banks from 63 countries. In fact, 29% of all approached banks worldwide
state that they currently plan to increase the level of automation for
static (reference) data. Due to the growing need for the reduction of cost
and of operational risks, more and more clients of AIM Software are scaling
up their data integration and automation efforts.
About AIM Software
Founded in 1998, AIM Software (www.aim-sw.com) specializes in data and risk
management solutions for financial institutions. With offices in Austria,
New York, Switzerland and Hong Kong, AIM Software operates globally,
servicing 70+ clients in the major financial centres, making it a global
leader in reference data management. AIM Software supports a step-by-step
integration of reference data management and risk management in order to
achieve higher efficiency and lower project risk.
About Bank Sarasin & Co. Ltd
Founded in 1841, Bank Sarasin today is one of Switzerland's leading private
banking institutions. Its core activities include investment advisory and
asset management service for private and institutional clients, as well as
an investment funds business.. The Sarasin Group - headquartered in Basel,
Switzerland - is represented in Switzerland, France, Germany, Guernsey, Hong
Kong, Luxembourg, the United Kingdom, and Singapore. Bank Sarasin is a
limited company. Its shares are listed at the Swiss Stock Exchange, SWX.
Contact:
AIM Software
Gerlinde Pachinger
PR & Communications
T: +43-1-5124652-228
pr@aim-sw.com
www.aim-sw.com