AIM Software has announced that KAS BANK, a European provider of custodian and fund administration services in the Netherlands, has selected GAIN in the Cloud for their data management needs.
The introduction of GAIN is a critical component of a digital transformation initiative at KAS BANK, geared toward making the firm more agile and competitive. KAS BANK has licensed three modules from the GAIN suite of business applications – GAIN Security Master, GAIN Portfolio Pricing and GAIN Corporate Actions – as part of their strategic focus to be more ‘data driven’ and improve ‘operational excellence’ by streamlining internal processes to reduce costs and improve data quality. All GAIN modules are being delivered to KAS BANK as a hosted managed service via “GAIN in the Cloud,” AIM Software’s Software as a Service (SAAS) solution.
KAS BANK will utilise GAIN to automate much of its security opening and maintenance processes, significantly reducing the bank’s levels of operational risk. The platform will also introduce rules and workflow-driven processes for corporate actions processing, enabling KAS BANK to achieve significantly higher straight-through-processing (STP) rates. GAIN will sit upstream of SimCorp Dimension, delivering validated data via a productized and fully maintained interface.
Michiel Noteborn, Head of IT Demand at KAS BANK, said: “We selected GAIN because of its best-in-class data management capabilities, productized adaptors to data feeds, and seamless integration with SimCorp Dimension. The platform will allow us to on-board new sources of data more quickly, and increase STP automation levels. With management and processing of market data, management of corporate actions, and look through services all taking place in one central location, KAS BANK is equipped with an efficient and reliable solution for scaling its administration services business. It is also considered a key building block to further scaling KAS BANK’s insourcing proposition for administrative services.”
Josef Sommeregger, Managing Director and Head of Europe commented: “We are delighted to welcome KAS BANK to the AIM Software client community, and to be supporting them on this important initiative.”