A best of breed solution for data management in financial institutions
AIM Software, a leading provider of reference data management and risk management software for the financial industry, and Avaloq, successful provider of a core banking system in Switzerland, announced a long-term cooperation to provide an integrated solution for reference data management.
Avaloq and AIM Software partnered to integrate their two established software solutions in order to offer an optimized solution package to fulfil the needs of their clients in data management. Avaloq supports multi-data feed integration in their core banking system by using GAIN DataDesktop, the flagship data management solution of AIM Software.
"Since we saw the growing success of Avaloq as a leading-edge banking technology provider in the market we wanted to extend the solution offering for our clients using Avaloq", states Martin Buchberger, Head of Marketing at AIM Software. "This partnership will help reduce project risks and costs for the clients of Avaloq and AIM considerably."
AIM Software can now provide the added value of GAIN DataDesktop to Avaloq clients, such as opening new instruments, and the import of static data and corporate actions as well as the integration of reconciliation logic with Avaloq optionally managing the resulting security master file. Andres Fischer, Alliance Manager at Avaloq, says: "The decision to partner with AIM was a result of analyzing the features of this solution and the potential synergies of our liaison. The market feedback about the very well introduced solution of AIM Software made it a clear choice for Avaloq to pursue a long term relationship."
Buchberger adds: "We see this strategic alliance as a symbol for a new era, where solution providers will combine their know-how and expertise for extending the reach of their products and services while focusing on their core competencies. We are convinced that this partnership will create an advantageous situation for our clients."
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About Avaloq Group AG
Avaloq (http://www.avaloq.com) is an independent banking software company owned entirely by the management and staff. Avaloq employs around 200 IT and business specialists and is based in Zurich. Established in 1985 as BZ Informatik, since 1996 the company has been developing and marketing the Avaloq Banking System, an integrated standard software package for financial service providers which can also be used as a modular solution. Avaloq has 21 clients in the retail banking and private banking sector.
About AIM Software
Founded in 1998, AIM Software (http://www.aim-sw.com) specializes in creating innovative data management and risk management software solutions for financial markets. Based on its worldwide distribution and service partner network, AIM Software provides internationally recognized modular software solutions. With offices in Austria, New York, Switzerland and Hong Kong, AIM operates globally in the major financial centres with 70+ clients.
AIM Software is a global leader in back office data management.
Contact:
Gerlinde Pachinger
AIM Software Communications
T: +43.1.5124652-228
pr@aim-sw.com
http://www.aim-sw.com
Gerlinde Pachinger
PR & Communications
Contact:
Francisco Fernandez
Avaloq Evolution AG
T: +41.1.4886888
info@avaloq.com
http://www.avaloq.com
© Press Release 2005
