The data management platform of AIM Software, the GAIN DataDesktop, is the key for Swiss Bank Sarasin & Co. Ltd to enable the automation of opening instruments directly in their Avaloq banking application.
Bank Sarasin & Co. Ltd has now been using successfully the data management solution GAIN DataDesktop from AIM Software for one year for the processing of Telekurs Financialâs Valor Datafeed (VDF), which also includes a fully-fledged reporting system for all VDF data.
Alexander Buytenhuijs, Financial Instruments & Quantitative Methods, Bank Sarasin & Co. Ltd, says, "We greatly appreciate the easy handling of the GAIN DataDesktop, giving us the possibility to build up queries and to extract data coming from any type of data feed. GAIN allows us to quickly elaborate all new requests on our own, offering a wide range of functionalities".
Automatic opening of instruments a key demand The automatic opening feature of GAIN delivers all necessary fields from a data feed without manual interference. This ensures significant time and cost savings for the bank and eliminates the risk of flawed inputs.
GAIN DataDesktop enables checks on all imported data prior to export to the banking application, and can produce control reports, which improves data quality. In case of exceptions, an intuitive interface provides a view on the data flagged as faulty and risky or where the bank has specified the data must be checked manually.
"The automatic integration from VDF data into Avaloq through the GAIN DataDesktop provides an added value to Bank Sarasin & Co. Ltd Ltd, since the trading room can start trading the instruments earlier," says Buytenhuijs.
Trends and tendencies in automation
In most institutions, the level of automation in data processing is still very low. This finding is underlined by the recent AIM Global Data and Risk Management Survey, which was conducted amongst over 1,700 banks from 63 countries. In fact, 29% of all approached banks worldwide state that they currently plan to increase the level of automation for static (reference) data. Due to the growing need for the reduction of cost and of operational risks, more and more clients of AIM Software are scaling up their data integration and automation efforts.