KAS BANK has licensed three modules of AIM Software’s GAIN business application suite as part of a digital transformation designed to the make the bank more agile and competitive. The GAIN solutions will be used to underpin data management and support the bank’s strategic focus on becoming more data driven and improving operations by streamlining internal processes to reduce costs and increase data quality.
KAS BANK, headquartered in the Netherlands and a European provider of custodian and fund administration services, has selected the GAIN security master, portfolio pricing and corporate actions modules, which will be delivered as a hosted managed service via GAIN in the Cloud, AIM Software’s software-as-a-service (SaaS) solution.
Michiel Noteborn, head of IT demand at KAS BANK, says: “We selected GAIN because of its best-in-class data management capabilities, productised adaptors to data feeds, and seamless integration with SimCorp Dimension. The platform will allow us to onboard new sources of data more quickly and increase STP automation levels. With management and processing of market data, management of corporate actions, and look through services all taking place in one central location, KAS BANK is equipped with an efficient and reliable solution for scaling its administration services business. The selection of GAIN is also considered a key building block to further scaling KAS BANK’s insourcing proposition for administrative services.”
The bank will use GAIN to automate much of its security opening and maintenance processes, reducing operational risk. The platform will also introduce rules and workflow-driven processes for corporate actions processing, enabling the bank to achieve higher STP rates. GAIN will sit upstream of investment management solutions from SimCorp’s Dimension portfolio – AIM Software has a partnership with SimCorp supporting a fully-maintained integration between GAIN and Dimension – and deliver validated data via the integration interface.
Josef Sommeregger, managing director and head of Europe at AIM Software, describes market requirements saying: “Financial institutions are focusing more than ever on business efficiency, cost reduction, and most importantly, on how they can differentiate themselves in a competitive market, perhaps by offering additional and better services, and by streamlining front to back processes to ensure agility throughout the whole value chain.
“In order to achieve this agility even faster, KAS BANK will leverage the GAIN solution in the Cloud which will allow a faster rollout and even higher flexibility in adjusting to changing client needs. By using GAIN in the Cloud, AIM will not only provide KAS BANK with all necessary and elastic infrastructure, but also complete IT operations around GAIN – allowing clients to focus on their core business. We are seeing significant traction across all regions for this cloud-based offering, both from new and existing clients.”