Andbank, the Andorra's fast growing private bank and its Luxembourg office went live with AIM Software GAIN Portfolio Pricing to respond to the increasing regulatory pressure on fund pricing while supporting the company's ambitious growth transformation.
Andbank, the Andorra’s fast growing private bank and its Luxembourg office went live with AIM Software GAIN Portfolio Pricing to respond to the increasing regulatory pressure on fund pricing while supporting the company’s ambitious growth transformation.
Following a comprehensive evaluation and selection process, AIM Software were chosen. “We selected AIM due to a combination of its track record within the Fund Administration and Private Banking industries, its knowledge of our business, and its Business Application approach to data management which allowed us a very fast initial implementation”, commented Gerard Estrada, Head of International Operations.
With one of the highest solvency ratios in the industry, the bank urgently needed to centralize and automate its pricing activities to both ensure data quality and respond to increasing regulatory demands. GAIN Portfolio Pricing is used to service its two primary business lines, Private Banking and Asset Management, whilst also offering a tailored-made pricing solution for its Fund Accounting service in Luxembourg. As a result, GAIN acts as a regulatory-compliant pricing service, improving both client service levels and operational efficiency. Furthermore, it supports Andbank’s growth strategy within 11 locations across Europe and Latin America.
“Centralizing pricing operations is a challenge that requires the support of an enterprise data management (EDM) platform with enough flexibility to address the ever increasing pressure from regulations while addressing the business imperatives. We feel this is a further endorsement of AIM’s business application approach to data management, providing our clients measurable business outcomes within a shorter timeframe and with lower project risk than alternative approaches. The solution was configured and ready for client testing in less than three months”, Josef Sommeregger, Global Head of Business Development & Strategy at AIM Software, said.
In picture : Jordi Comas Planas, Chief Executive Officer and Director of Andbank.