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

A-Team Insight Blogs

Danske Bank Implements AIM Data Portal to Centralise and Optimise Reference Data

Subscribe to our newsletter

Danske Bank is implementing AIM Software’s GAIN Data Portal to centrally source, monitor and optimise the bank’s reference data and snapped prices from a leading data provider. Subject to requirements, the bank will broaden data coverage with additional vendors.

Danske Bank was looking for a solution that would help it stage and distribute its data across the banking group. The solution also needed to optimise the bank’s cost base, track usage across downstream systems and business users, and ensure compliance with vendor data contracts. GAIN Data Portal is being rolled out across Danske Bank Group as a centralised repository for raw vendor data. The application monitors and manages vendor data requests, both for bulk loads and defined universes, and the data is stored in a centralised hub, where it is made easily accessible to authorised users and systems. The application also facilitates faster onboarding of data to support new business cases and is helping the bank achieve significant cost savings by eliminating duplicate and wasteful requests.

Jacob Wahlers, group head of financial data at Danske Bank, says: “We are using GAIN Data Portal to efficiently source the data that we need and to ensure that we’re compliant with our vendor data contracts. It provides us with complete control over new data requests, as well as transparent usage tracking at a user, account, business unit, and organisational level. The application will also allow us to achieve significant cost savings through sourcing optimisation.

“In terms of speed to market, GAIN Data Portal certainly does the job. The application eliminates the hassle of unpacking, normalising and joining keys for huge volumes of data. The data we need is made readily accessible and can be queried in a lean and fast manner.”

Wahlers remarks that building a version of the application in-house would have taken a year or more to achieve. GAIN Data Portal was up and running in a matter of days.

Commenting on the implementation at Danske Bank and the wider market, Josef Sommeregger, managing director for Europe and chief commercial officer at AIM Software, adds: “Market data managers globally are under increasing pressure to provide access to a wider variety of financial information services, while at the same time reducing spend on these services. GAIN Data Portal addresses this pain point by providing the control and transparency that firms need to understand and optimise their vendor data costs and usage, while ensuring compliance with vendor data contracts.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: New opportunities to scale data operations

Faced with tough competition and ongoing pressure on margins, many firms are reviewing their operating models and assessing whether they can reallocate more resources to high-value projects by outsourcing commoditised processes including data operations. This webinar will explore the different approaches that buy-side and sell-side firms are adopting to scale their data operations, including market...

BLOG

SimCorp Releases Cloud Native Investment Analytics Platform

SimCorp has released a cloud native investment analytics platform offering a real-time attribution solution designed to meet growing demand for accurate and real-time performance analytics. This is the company’s first service on its Investment Analytics Platform, with solutions related to ESG attribution and risk attribution planned as the next set of releases. The platform provides...

EVENT

TradingTech Briefing New York

The TradingTech Briefing New York will explore how trading firms are innovating and leveraging technology as a differentiator in today’s cloud and digital based environment.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...