AIM Software has acquired Switzerland-based ABI Informatic, in what it called the latest round of consolidation in the enterprise data management industry.
ABI Informatic is the producer of AGIO, a software package for managing financial data that has been implemented in over 25 financial institutions in Europe. AIM says that the acquisition and resulting combination of resources will enable it to continue with innovative policies in data management.
“The data management industry is moving towards a heterogeneous mix of light-weight business services, hosted solutions and on-site enterprise data management initiatives,” said Josef Sommeregger, AIM’s global head of sales. “ABI Informatic’s active server pages [ASP] services very well complement our offerings in this area and enlarge the list of solutions that our customers can now choose from.”
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off day two of the Singapore Fintech Festival, Deloitte Chairman David Cruikshank said that fintech is significant for three reasons. First, customer expectations of services are higher than ever. Second, barriers to entry are lower than before. And finally, financial institutions (FIs) face a threat of what a competitor might do.
The EU and US’ shift in accounting standards may bring balance sheet losses and increase credit risk, according to James Elder, director of risk services at Standard & Poor’s (S&P) Global.