Swiss headquartered Bank Sarasin has upgraded its implementation of Aim Software’s data management solution to the Gain Data Management platform combined with an adapter for the Avaloq Banking System. The bank, which has been using Aim Software’s Gain DataDesktop since 2002, hopes the new central data management platform and added functionality will provide enhanced automation of instrument data processing.
Julius Zürcher, head of operations at Bank Sarasin, explains why the bank chose to stay with Aim: “Owing to the positive experience with Gain Data Management in the past and the strong and proven track record in the Avaloq community, we have chosen to upgrade the existing solution to Aim Software’s central security master file. Moreover, Gain’s interface is the only one certified by Avaloq, and Gain is a scalable platform that can grow along with our future needs.”
Bank Sarasin has been using the Gain DataDesktop for the past seven years for the ad hoc opening of instruments, the export of SIX Telekurs data to other systems and the production of data change reports. However, the bank decided to upgrade to Aim’s Gain platform in order to cope with increasing market volumes and globalisation, facilitate the delivery of SIX Telekurs data to Sarasin subsidiaries and reduce the effort for data maintenance.
The bank hopes that by using Gain as central data management platform, it will be able to centrally manage the data quality and the delivery of data feed information to its international subsidiaries, thus considerably cutting infrastructure costs.
In the first phase of the project, Aim Software installed the certified Avaloq adapter for Avaloq 2.6, which went live mid-November, says the vendor. Further planned steps include the automation of corporate actions, the improvement of the price delivery, as well as the deployment of the full range security master file at Bank Sarasin.