Luxembourg-based European Fund Administration (EFA) has decided to upgrade to Aim Software’s flagship Golden Copy solution with a view to optimising the processing of reference data from Telekurs and Bloomberg. EFA implemented the Gain platform in 2004 but it says that factors such as volume increases in data have forced it to upgrade to a central data management platform with extended validation facilities.
EFA, which is a provider of outsourcing solutions for investment companies and banks in Luxembourg, had been using Gain for the automation and integration of Telekurs Information into its IT environment. However, a combination of the increase in data volumes and the need to integrate data from further sources have forced the firm to invest in an upgraded data system.
Prior to its selection of Golden Copy, the firm engaged a comparative analysis of proven data management suites. EFA indicates that it chose Gain Golden Copy mainly for its flexibility and modularity. The firm hopes to use the workflow facilities in Gain to increase the degree of automation of the data management processes.
Jean Marc Verdure, chief information officer at EFA, explains: “We required a solution which meets our demand for high quality static data derived from Bloomberg and Telekurs as well as internal sources. Gain Golden Copy meets our criteria and stands out with its track record with more than 100 references worldwide and the breadth of functionalities. This project will help us to achieve a considerable reduction of total costs and processing effort.”
EFA is currently upgrading to the Golden Copy version of Gain, which the vendor says comprises a central rule engine and further pre?built tools for improving data quality. The implementation is ongoing and is due to be completed in November, says Aim Software.
The implementation began four months ago and Aim Software has reached the final testing stage, says Josef Sommeregger, head of business development and sales at Aim. He reckons this is a speedy implementation: “This rapid implementation became possible by utilising Gain’s comprehensive model parameterisation which delivers a standard set of mappings, workflows and rules as well as predefined processes derived from our experience from previous projects. By using best practice adapted to the specific needs of our client, we aim at ensuring a faster ROI for EFA.”