GAIN Corporate Actions Diary System

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• Seamless extension of the GAIN platform
• Improved tracking of corporate actions data
• 4 eyes concept for processing the data
• Full historisation and Audit Trail
• Escalation of deadlines

• Increased transparency of corporate actions workflows

Given the large user base of 90+ clients of the GAIN platform, the demand for an extended handling of corporate actions data was on top of the list of additional GAIN modules. Corporate actions are being seen as the least automated and therefore most labour-intensive, error- and risk-prone areas in data processing within financial institutions.

Higher operational efficiency as driving force
AIM Software’s annual Global Data and Risk Management Survey shows a growing demand for the automation of corporate actions, as 26% of 1,000 responding financial institutions plan to increase their level of automation for corporate actions. Operational risks and huge potential losses could be avoided by an improved processing in this area.

According to the survey, a high degree of straight through processing (STP) in corporate actions can be seen as business critical. Thus, automating even only a part of the corporate actions workflow can lead to substantial benefits in terms of increased staff productivity and risk reduction.

Martin Buchberger, Head of Marketing & Sales at AIM Software, says: "The driving force in corporate actions processing are errors and the associated costs which occur due to miscommunication and disregarded financial information. In the context of the current regulatory environment, such as Basel II and MiFiD, the GAIN CADS module addresses the operational risk associated with exceptions around corporate actions data."

Straight through data import
GAIN CADS is fully integrated with AIM Software’s GAIN platform. One of the most important features of the GAIN CADS module is that the need for manual data entry will be consequently eliminated by automatically importing corporate actions data from most of the world’s leading data feeds (eg SWIFT, Telekurs Financial, Reuters, FT Interactive Data, WM Datenservice, and Bloomberg and SWIFT).

The basic entities of CADS are events that are associated with tasks based on a group or user level. Workflows can be linked with events and any changes to the data will be tracked in a change history and audit trail. Workflows can be bound actions based on rules such as, for example, sending e-mails or changing the assigned user to escalate a task to a supervisor.

Visualization and monitoring
GAIN displays event information in context sensitive views that present the data relevant for a specific event. User friendly features such as grouping, sorting and filtering on the fly by several fields increase the transparency of the corporate actions workflows and help to eliminate costly processing or timing errors.

GAIN CADS is designed for fast implementation. It acts as a seamless extension of the GAIN platform, which operates as a centralized reference data management and risk management platform aiming at cutting costs and risks associated with back office processes.

"Our new corporate actions module underlines AIM Software’s commitment to offer best practice solutions that are aligned with market needs. We are looking forward to offer this new extension to our existing clients and further companies who intend to improve their corporate actions workflow," Buchberger concludes.