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A-Team Insight Blogs

Aim Bags Second Client Win of 2010 with Switzerland’s Finter Bank

Data management solution vendor Aim Software has bagged its second client win of the year this month with Swiss private bank Finter Bank Zurich, which has opted for an application service provider (ASP) version of the vendor’s Gain data management platform. The solution will be deployed as an ASP service via outsourcing vendor SFB’s services4banks platform to deliver data from SIX Telekurs and Thomson Reuters into Finter’s banking platform Ambit Apsys from SunGard.

This collaboration between the SFB and Aim Software is part of the strategic partnership that both vendors announced in February last year. The vendors are working together to provide Swiss clients using SunGard’s Ambit Apsys, such as Finter Bank, with an extended reference data service.

The exclusive service partnership means that Gain Data Management is part of SFB’s standard offering for financial institutions. The service can be used to feed client instances with reference data from multiple sources, which can be integrated into Apsys through a range of customisable data feed interfaces. A central focus of the service lies on the automatic processing of SIX Telekurs data via a wide range of interfaces, which are tailored to the Ambit Apsys logic. Aim Software’s Gain Data Management then handles the complete processing and mapping logic between SIX Telekurs, or another data feed, and Ambit Apsys.

Finter Bank Zurich opted for the combined SFB Aim solution as part of the rollout of Ambit Apsys as its new core banking solution. Beat Brechbühler, senior project manager at the bank, explains that it needed a data management solution for the delivery of data from SIX Telekurs and Thomson Reuters DataScope, as well as the automatic creation of securities in the new banking system.

“The solution provided by Aim Software and SFB enables us to access a state of the art platform without having to install software on site and to take care of the maintenance. As a result, we are able to concentrate on our core competencies and can handle data requests faster and more efficiently,” continues Brechbühler. The delivery of data is handled automatically via FTP and does not require manual intervention by Finter Bank.

The rollout of the joint solution was completed in three months, explains Martin Buchberger, head of marketing and sales at Aim Software. After the specification phase of the project in July, the implementation and test phase was finished at the end of September and the system went live in October. In the future, the bank is also planning to extend the installation to provide reports and cover additional data fields.

According to the vendor, Gain features an automatic security creation interface that enables Finter Bank to generate new securities in Ambit Apsys at any time of the day. The automatic security creation also allows the bank to execute an initial load for Ambit Apsys. This has helped the customer to increase the level of STP and to reduce costs and manual effort.

“By offering Gain as an ASP service, we are able to provide clients with high quality data while spreading the costs and efforts over a number of customers,” claims Josef Sommeregger vice president of business development and sales at Aim Software. “The short project duration and the reduced implementation effort became possible because of the deployment of Gain together with the standard Gain|Apsys interface, developed in collaboration between Aim Software and SunGard.”

It has been a fairly positive start to the year for the vendor; earlier this month, German bank Deutsche Postbank Financial signed up for the vendor’s Gain platform in combination with SIX Telekurs’ Valor Data Feed (VDF). For now, it seems that the vendor’s collaboration approach to the market is paying off. It will be interesting to see whether its partnership with Luxembourg-based, ASP specialist CetrelSecurities, which it announced in October, proves as fruitful.

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