Danish Bank Prepared for European Union Savings Tax Challenges
June 7, 2005 (Press Release) --
Sydbank AG Selects Data Management Solution from AIM Software
Danish Bank Prepared for European Union Savings Tax Challenges
AIM Software, a leading provider of reference data management and risk management solutions to the financial industry, announced today that Danish private bank Sydbank (Schweiz) AG has selected AIM Software’s data management solution GAIN DataDesktop for the integration of price, static and corporate actions data provided by Telekurs in Switzerland. This enables Sydbank to fulfil the requirements of the EU Savings Tax Directive consistently.
The fully-fledged data management platform GAIN DataDesktop of AIM Software will be used to integrate Telekurs VDF (Valor Data Feed) data automatically into the core banking system of Sydbank. Additionally, Sydbank will use AIM Software’s solution for the processing of EU taxation data, thereby complying with the EU Directive taking effect on July 1, 2005.
“We will be able to completely automate the integration of VDF data into our APSYS banking application which will support us in improving our data quality and in reducing manual processes to a minimum level”, says Thomas König, Chief Financial Officer at Sydbank (Schweiz) AG.
The implementation of the EU Savings Tax Directive is scheduled to take effect on July 1, 2005. In order to cope with the approaching deadline, AIM Software offers an all-in-one solution for the automated processing of EU taxation data.
König adds: “For Sydbank it was vitally important to have a reliable partner with comprehensive know-how and a large client base in order to fulfil the EU’s Savings Directive in such a short period.”
“The need for an out-of-the-box solution for a fast and low-risk implementation has frequently been voiced in the industry because of the EU’s short deadline,” says Martin Buchberger, Head of Marketing at AIM Software. “We were keen to bundle an attractive and standardized package which covers the requirements of our clients.”
About Sydbank (Schweiz) AG
Sydbank (Schweiz) AG (http://www.sydbank.ch) is an affiliated company of Sydbank A/S in Denmark. Founded in 2003, Sydbank (Schweiz) AG specializes in high-quality and flexible investment solutions for international investors. The bank offers its clients competence and quality along with its typical Danish flexible approach.
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. GAIN DataDesktop - the data management middleware by AIM Software - is designed for the processing of EU taxation data and 15+ back-office data feeds, such as those from Telekurs, Reuters and Bloomberg.
Contact:
Gerlinde Pachinger
Corporate Communications
T: +43.1.5124652-228
pr@aim-sw.com
http://www.aim-sw.com
Danish Bank Prepared for European Union Savings Tax Challenges
AIM Software, a leading provider of reference data management and risk management solutions to the financial industry, announced today that Danish private bank Sydbank (Schweiz) AG has selected AIM Software’s data management solution GAIN DataDesktop for the integration of price, static and corporate actions data provided by Telekurs in Switzerland. This enables Sydbank to fulfil the requirements of the EU Savings Tax Directive consistently.
The fully-fledged data management platform GAIN DataDesktop of AIM Software will be used to integrate Telekurs VDF (Valor Data Feed) data automatically into the core banking system of Sydbank. Additionally, Sydbank will use AIM Software’s solution for the processing of EU taxation data, thereby complying with the EU Directive taking effect on July 1, 2005.
“We will be able to completely automate the integration of VDF data into our APSYS banking application which will support us in improving our data quality and in reducing manual processes to a minimum level”, says Thomas König, Chief Financial Officer at Sydbank (Schweiz) AG.
The implementation of the EU Savings Tax Directive is scheduled to take effect on July 1, 2005. In order to cope with the approaching deadline, AIM Software offers an all-in-one solution for the automated processing of EU taxation data.
König adds: “For Sydbank it was vitally important to have a reliable partner with comprehensive know-how and a large client base in order to fulfil the EU’s Savings Directive in such a short period.”
“The need for an out-of-the-box solution for a fast and low-risk implementation has frequently been voiced in the industry because of the EU’s short deadline,” says Martin Buchberger, Head of Marketing at AIM Software. “We were keen to bundle an attractive and standardized package which covers the requirements of our clients.”
About Sydbank (Schweiz) AG
Sydbank (Schweiz) AG (http://www.sydbank.ch) is an affiliated company of Sydbank A/S in Denmark. Founded in 2003, Sydbank (Schweiz) AG specializes in high-quality and flexible investment solutions for international investors. The bank offers its clients competence and quality along with its typical Danish flexible approach.
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. GAIN DataDesktop - the data management middleware by AIM Software - is designed for the processing of EU taxation data and 15+ back-office data feeds, such as those from Telekurs, Reuters and Bloomberg.
Contact:
Gerlinde Pachinger
Corporate Communications
T: +43.1.5124652-228
pr@aim-sw.com
http://www.aim-sw.com
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