Swiss private bank Wegelin & Co has implemented Aim Software’s Gain|Apsys interface to improve the import of Telekurs data into the SunGard Apsys banking application. The bank, which has been using Gain Data Management since 2001, says the interface was needed to cope with increased market volume.
Wegelin & Co has been using Aim’s platform since 2001 to connect to Telekurs Financial’s Valordata Feed (VDF) and for managing the storage, versioning and mapping of data.
It has added the new interface to increase the level of automation in its back office, according to Remo Dickenmann, IT and organisation project manager at the bank. He explains the new functionality that has been achieved: “The new Gain|Apsys interface allows us to improve the quality of our reference data utilised within the bank’s back office and to increase the usage of our data feeds throughout the organisation.”
The new interface is based on the modular Gain Data Management framework and it imports, processes, and maps all requested data to create new security records directly within Apsys within a few minutes, says Christian Trnka, professional services manager at Aim Software. According to the vendor, the solution ensures that all imported data is validated prior to the export to Apsys, resulting in time and cost savings for the bank and a reduction of the risk of flawed input.
Trnka adds: “By using Gain to streamline the verification and consolidation of the financial data, we are able to provide our customers with a high degree of automation.”
As a next step, Wegelin & Co will further expand on Aim Software’s reference data management platform by using the interface to automatically update income and revenue data and to load basic data even more frequently, she continues.