By selecting the solution, the bank will become a member of an user pool for GAIN Corporate Actions Scrubbing within the Avaloq community.
With the help of GAIN Corporate Actions, the bank will reduce manual effort for cleansing and scrubbing the announcement data from different sources.
Under the first phase of the project, the high-volume mandatory events that include Dividend Cash, Interest Payments and Redemptions will be automated in order to realize a fast return for the bank.
A first delivery of the GAIN solution equipped with the mandatory event processing is planned in the fourth quarter of 2012.
Bank Sarasin head of logistics and member of the executive committee Peter Sami said that the bank is aiming towards a STP rate of up to 90% of the data coming from the different sources.
"This will enable us to drastically reduce the effort on the announcement capture side and invest it into the quality control towards our customers," Sami said.
