AIM Software’s business approach to data management has been endorsed by Andbank, a private bank based in Andorra that has gone live with the company’s Gain Portfolio Pricing data management application.
The AIM solution was chosen following a comprehensive evaluation and selection process and is being used to service the bank’s primary private banking and asset management business lines. The software also forms the base of a tailor made pricing solution for Andbank’s fund accounting service in Luxembourg and is expected to support the bank’s growth strategy that covers 11 locations across Europe and Latin America.
Gerard Estrada, head of international operations at Andbank, says: “We selected AIM due to a combination of its track record within the fund administration and private banking industries, its knowledge of our business and its business application approach to data management, which allowed us a very fast initial implementation.”
Josef Sommeregger, global head of business development and strategy at AIM, expands on this, explaining: “Centralising pricing operations is a challenge that requires the support of an enterprise data management platform with enough flexibility to address the ever increasing pressure from regulations, while addressing business imperatives. We feel this is a further endorsement of AIM’s business application approach to data management, providing clients with measurable business outcomes in a shorter timeframe and with lower project risk than alternative approaches. The solution was configured and ready for client testing at Andbank in less than three months.”
AIM’s implementation of a Gain data management solution at Andbank follows two recent contract wins in the US that were influenced by the company’s business approach to data management, which includes fixed price, packaged applications covering market data, reference data and corporate actions data.