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."