AIM Software, a leading provider of reference data management solutions to the financial industry, and Sintea S.r.l., a major provider of front office platform in Italy and Ticino, announced today that Arner Bank has selected AIM Software's data management environment GAIN for the integration of price, static and corporate actions data provided by Bloomberg and Telekurs Financial. Arner Bank has implemented GAIN in conjunction with Galileo - the Security Master File, a flexible golden copy environment based on GAIN which was created by Sintea to meet the specific business and compliance requirements of financial institutions in Ticino.
Arner Bank, located in Lugano (Switzerland) is active in international capital management, asset allocation and investment consulting and required a solution which would allow integrating prices, basic data and corporate actions delivered by Telekurs and Bloomberg into its back office environment. The goal was to reduce manual interventions and, hence, potential human errors by introducing a workflow driven and rule based data selection process, improving the efficiency of Arner Bank's internal data management processes. Together with its partner Sintea, AIM Software used its modular GAIN software platform to act as a data hub for Bloomberg DataLicense and Telekurs VDF.
The selection of the solution followed a comparative analysis of competing data management solutions. Arner Bank chose the solution for its flexibility and cost efficiency, its ability to process various types of data from 15 different data feeds and its easy and quick adaptability to customers' requirements.
"With the two main data sources Bloomberg and Telekurs, it was becoming necessary for us to implement solid data centralization strategies and straight-through processes," said Flavio Mascolo, Director at Arner Bank. "The solution met our criteria and stood out among the competition for its maturity and of its breadth of functionalities. The automatic data processing will help us to achieve a considerable reduction of total costs and processing effort."
"AIM Software is pleased to offer Arner a platform that helps them to efficiently meet their daily needs in reference data management," said Josef Sommeregger, Head of Business Development at AIM Software. "With industry support for our integrated GAIN platform, more and more companies are recognizing the power of a solution that solves today's business challenges, while positioning them on a technology platform for the future. We are proud to welcome Arner to our large customer community in Switzerland."