Banque de Luxembourg ‘s GAIN with GoldenMaster into Avaloq
AIM Software, a provider of centralized reference data management solutions […]
October 20, 2008
AIM Software, a provider of centralized reference data management solutions to the financial industry, announced today that Banque de Luxembourg has decided to implement AIM Software’s flagship GoldenMaster solution with the goal of optimizing the delivery of validated pricing data and static data from Telekurs, Bloomberg and Wertpapiermitteilungen into Avaloq.
In the course of implementing Avaloq as its new core banking system, the premier private bank Banque de Luxembourg (www.banquedeluxembourg.com) decided to overhaul its data management infrastructure. Due to rising market demand, it had become necessary to further enhance existing data processing systems. Following market-wide analysis of proven data management suites, Banque de Luxembourg decided to upgrade its existing application to the multi-source GAIN GoldenMaster reference data management platform for its extended validation facilities.
“Having relied on AIM Software for more than four years, we have chosen to upgrade to AIM Software’s GAIN GoldenMaster solution because of its robust and proven track record with more than 10 of the leading Avaloq banks as user base. Moreover GAIN’s interface is the only one certified by Avaloq,” says Anita Obadia, Project Manager at Banque de Luxembourg. “We will now be able to work within a multi-source environment to manage our pricing and reference data via a scalable platform that can grow along with our future needs.”
Growing demands in data processing require the integration of numerous different data feeds such as Bloomberg, Telekurs and Wertpapiermitteilungen. Drawing on its connectivity with more than 15 data feeds, GAIN GoldenMaster will serve as a future-proof framework by processing instrument requests from Avaloq and other internal software solutions, and validating data by applying the client’s specific business rules. The validated data is directly fed back into Avaloq through the GAIN | Avaloq adapter.
Banque de Luxembourg will now be able to carry out a streamlined data scrubbing, a task that demanded time-consuming and error-prone manual processing in the past. Martin Buchberger, Head of Marketing & Sales at AIM Software, explains the philosophy of the GAIN GoldenMaster solution: “We use best practice adapted to the specific needs of our client. By deploying GAIN GoldenMaster, Banque de Luxembourg will be able to approach the automation of standardized data processing step by step and thereby increase overall operational efficiency.”
To offer Banque de Luxembourg a tailor-made solution, AIM Software implemented its state-of-the art service oriented architecture framework together with the GAIN SmartClients, offering a highly flexible adaption of the GAIN application to customer specific requirements.
“AIM Software is pleased to welcome Banque de Luxembourg into the growing GAIN GoldenMaster user base,” adds Martin Buchberger. “It is important for us to work together with our clients on a long-term basis so we can best understand the market’s needs and shape our product roadmap accordingly. Since we already service many of the leading Avaloq banks, we get very valuable input on the further development of the GAIN platform and the certified GAIN | Avaloq adapter. This helps us to keep our product futureproof and extensible.”
Avaloq is also the core banking systems of Pictet and Luzerner Kantonalbank