AIM Software has secured a contract to modernise data management at Netherlands-based KAS Bank, a specialist in securities services, risk control and reporting services that administrates over €400 billion in assets on behalf of clients in the pensions and securities industry.
The bank was looking for a solution that would allow it to migrate from a legacy data management system with minimum disruption and selected AIM after considering in-house development, specialist tool suppliers and another enterprise data management solution.
The bank will initially implement the data management business application that is part of AIM’s GAIN business application suite and will use the application with a securities data feed from SIX Financial Information to support its custody business. The solution is expected to be in place in a couple of months and could be the beginning of a more extensive roll-out of the GAIN platform and its business applications.
Mark Schilstra, managing director of asset servicing at KAS Bank, says: “We have chosen GAIN because it is the most cost effective and lowest risk option to migrate from the legacy system. The implementation team is very impressed by how comprehensive the configuration tools are and how intuitive they will be to use. We like the fact that AIM’s business applications are designed to meet the particular challenges of our asset servicing operations and will help us reduce our operational workload.”
Michael Walford-Grant, UK country manager at AIM, notes that the GAIN solution will provide the bank with a securities master, high quality data and efficient straight through processing, as well as the benefits of faster time to market, reduced risk and lower ongoing cost of ownership. KAS Bank is AIM’s fourth customer in the Netherlands, and the first to contract with the company in the Netherlands since private equity firm Welsh, Carson, Anderson & Stowe took a majority stake in the business in January.
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