About a-team Marketing Services
The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

AIM Acquisition of Joss Technology Adds Entity Data Application and US Presence

Subscribe to our newsletter

AIM Software’s acquisition of Joss Technology will add an entity data business application to AIM’s Gain data management platform, as well as US based employees and customers who will help to power the company’s ‘go west’ strategy.

The terms of the acquisition have not been disclosed, but once it is complete, Joss Technology will be rebranded and operate as part of AIM Software North America. All of the company’s managers and employees, including co-founders Olivier Schlatter and Julien Serdaru, will join AIM, along with a handful of clients.

On the product side, AIM will rebrand Joss Technology’s Entity Data Management System as an entity master business application on its Gain platform. The application will replace AIM’s counterparty data application, which the company says it will continue to support along with existing instances of Joss Technology’s Entity Data Management System, although its goal is for all users to migrate to AIM business applications over time.

Josef Sommeregger, global head of sales at AIM, explains: “We offer packaged business applications that differentiate us from other vendors that take an IT-based approach to data management platforms. The addition of an entity master business application from Joss Technology is a logical extension of AIM’s Gain platform.”

Joss Technology was founded in New York City in 2010 with a focus on entity data management. Its Entity Data Management System, which uses fuzzy matching algorithms and an intuitive user interface to help firms aggregate, manage and disseminate entity data for greater operational efficiency, was brought to market in late 2011. Commenting on Joss Technology’s acquisition by AIM, Schlatter says: “Joss Technology and AIM have a shared vision about developing apps and platforms around business users. We have had a business rather than a technical focus since we started the company.”

As well as adding an entity master application to the Gain platform, Joss Technology adds to AIM’s presence in the US, where the company recently secured two Tier 1 clients and is planning a wider rollout out of its newly extended product line. Sommeregger says AIM has a number of US deals in the pipeline and hopes to close some of them before the end of this year. By early next year, he intends to have 10 employees in the US to meet market demand for AIM solutions and to provide added value for local customers using the company’s solutions. Looking a little further ahead, he concludes: “Over the next two years, we will do more in North America as we continue to follow our ‘go west’ strategy.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Adding value and improving efficiencies in sanctions screening

Sanctions have been headline news this year. They are growing in number, sanctions lists are changing on a daily basis, and there can be conflict between sanctions issued by different jurisdictions – the whole calling for financial institutions to optimise sanctions screening to reduce risk and avoid potentially punitive penalties of non-compliance. This webinar will...

BLOG

Encompass Plans Global Growth Acceleration Following £25 Million Funding Round

Encompass, a provider of automated Know Your Customer (KYC) solutions, has completed a capital raise of £25 million. The funds will be used to accelerate global growth, particularly in the US where the company opened its first office in New York in October 2021, and in Europe where an office was recently opened in Amsterdam....

EVENT

ESG Insight Briefing New York

The briefing will explore challenges around assembling and evaluating ESG data, how to apply new technologies to improve data quality and insight and the impact of regulatory measures on standardisation efforts.

GUIDE

Entity Data Management

Entity data management has historically been a rather overlooked area of the reference data landscape, but with the increase focus on managing risk, the industry is finally taking notice. It is now generally agreed to be critical to every financial institution; although the rewards for investment in entity data management appear to be rather small,...