Aim Software has entered into a strategic partnership with Swiss?based application service provider (ASP) and outsourcing vendor SFB services4banks to provide the latter’s clients with a central reference data management platform based on Aim Software’s Gain Data Management solution. The two vendors are therefore working together to provide Swiss clients using SunGard’s Ambit Apsys with an extended reference data service.
Under the exclusive service partnership, Gain Data Management will become part of SFB’s standard offering for financial institutions. The new service will 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 Telekurs data via a wide range of interfaces, which are tailored to the Ambit Apsys logic, says the vendor. Aim Software’s Gain Data Management then handles the complete processing and mapping logic between Telekurs and Ambit Apsys.
Peter Kaszuba, CEO at SFB services4banks, explains why the vendor chose Aim: “For us, Aim Software stood out among all options for the comprehensive functionalities of its data management solution, as well as its proven track record in the Ambit Apsys community, with 13 live customers. By relying on Gain, we will be able to meet the requirements arising from our current and future customer base.”
Josef Sommeregger, head of business development at Aim Software, adds: ”The strategic partnership between SFB services4banks and Aim Software with clearly defined responsibilities will help our joint clients to benefit from both partners’ experience and enable them to fully concentrate on their core business processes while additionally saving costs.”
The advantage of the partnership for SFB clients will be the timely supply of data without the requirement to install hardware, says the vendor. Customers can therefore access reference data from different providers and open new instruments directly in Ambit Apsys via Gain. According to the vendor, this will reduce costs due to the elimination of manual data collection and increase operational efficiency.
Furthermore it claims that the external hosting of Gain will allow customers to share the expenses for enhancements and adjustments, thus resulting in reduced costs for firms at the smaller end of the spectrum.
“We are looking forward to further extending our offering for Ambit Apsys clients by a new ASP service that gives financial institutions an even wider choice,” adds Sommeregger.
The ASP model certainly seems to be popular with the vendor community this year. Given the increased costs that firms are facing, it seems that the decision to outsource processing is becoming ever more common as they seek to reduce overheads in any way that they can.