In The News

Joss Technology to be acquired by AIM Software

VIENNA, Austria, and NEW YORK, NY, November 3, 2014 – AIM Software, the leading provider of data management products to the financial industry, announced today that it has reached an agreement to acquire US-based Joss Technology, an innovative solutions provider tackling the growing volume and complexity of information related to legal entities. Located in New York City, Joss Technology is the producer of EDMS, the Entity Data Management System that leverages fuzzy logic algorithm and an intuitive user interface to help financial firms ensure compliance, reduce risk and cut costs through greater operational efficiency.

Upon completion of the transaction, Joss Technology will operate as part of AIM Software North America. The addition of Joss Technology will further extend AIM Software’s GAIN platform and will add a new business application focused on data related to entities such as counterparties, clients/accounts, and issuers. AIM Software already offers out-of-the-box solutions for reference data, securities, portfolio pricing and corporate actions processing. With this acquisition, AIM Software will offer the most comprehensive suite of business applications in data management.

Martin Buchberger, CEO of AIM Software, stated: “AIM Software’s strategy is to deliver the most innovative business applications to meet our clients’ data needs for efficient data operations. Joss Technology brings impressive expertise, strong intellectual capital and a user focus that is consistent with AIM Software’s culture. Given the unprecedented interest in the legal entity data area, we are excited by the opportunity to expand our offering for our large customer base, as a result of Joss joining us”.

Olivier Schlatter, co-founder of Joss Technology comments: “We are delighted to be joining a global leader in the data management industry. This union was the next logical step for Joss Technology. We share a passion for innovation and for delivering the best products for our clients. AIM Software has a unique approach with a portfolio of applications that perfectly matches the current needs of financial institutions, especially with the addition of our entity master. “

Josef Sommeregger, Global Head of Sales of AIM Software, states: “This new acquisition is part of a larger strategy to expand the array of business applications our clients can choose from. This will further improve our business growth and we are pleased to welcome Joss Technology customers to the AIM Software user community.”

AIM has recently received the prestigious award for “Best EDM Platform for Portfolio Pricing & Valuations” at the Data Management Summit (DMS) 2014 in London and works very closely with its user community to actively shape the next wave of enterprise data management applications.

“Based on the feedback from our large customer pool, we embarked on the next evolutionary step in enterprise data management with ready-to-use business applications using our GAIN platform. Joss Technology very well complements AIM Software’s product line,” concludes Sommeregger.

The terms of the transactions were not disclosed. The transaction is subject to standard regulatory approvals.

About AIM Software

AIM Software is the leading independent provider of data management business applications to the financial services industry since 1999. With more than 110 references, and offices in Austria, Luxembourg, Switzerland, France, the UK, and the US, AIM offers low risk all-in-one software packages, based on its industry-proven data management platform GAIN. For further information, please visit

Cutting-edge Technology and Open Data

October 21, 2014, bobsguide

“Open data is a driver of innovation, competition, efficiency and sharing. We exist to make information more accessible, more discoverable and more usable, and thus provide the ability for institutions to better understand and monitor their counterparties and for regulators to better supervise and uncover systemic risk” says Chris Taggart, OpenCorporates’ London-based co-founder and chief executive officer.

Olivier Schlatter, Co-Founder of Joss Technology, says: “The combination of our data management tools and workflows with the vast datasets available through OpenCorporates responds to several needs expressed by our clients: reduce manual reviews, lower the need for data remediation, and increase confidence in quality and completeness of information used for compliance and risk reporting”.

Impactful Actions

April 8, 2014, Inside Reference Data – Waters Technology

“The regulators want to understand, if something goes wrong, if there is stress in the system, how do you assess the risk? How do you assess the danger if something goes wrong at the entity level?” says Sablone. “Information about the instrument is great, but we have seen that knowing you hold a bond from issuer ABC doesn’t serve any purpose, if you don’t know that the issuer ultimately is Lehman Brothers.”

He adds: “If you look at BCBS 239 [Principles For Effective Risk Data Aggregation and Risk Reporting], for example, the regulators will ask you: what process do you have around all of your counterparty data, all of your issuer data? What data quality measures are you putting in place to ensure the data you have is accurate at the entity level?”

Joss Adds SIX Corporate Actions Data to Entity Data Management System

Reference Data Review

September 25, 2013, A-Team Group

According to Olivier Schlatter, co-founder and managing director of Joss Technology, “The workflow tools in EDMS, including corporate actions automation, ensure that the golden copy of an institution’s entity data is properly maintained. But the reality is that issuer level notifications are not widely available, so the fact that SIX Financial Information’s high quality, global entity corporate actions data is available on the platform is a tremendous added value.”

Jason McCann, strategic business development manager for SIX US, adds: “Most data management platforms we work with do not operate at the issuer level. Given the requirements set forth by regulators in the US and Europe, EDMS seems to be the right solution at the right time to meet the entity data management challenges facing global financial institutions.”

Visions of a Corporate Genome Map

March 6, 2013, Inside Reference Data – Waters Technology

Data vendors are not the only third parties jumping on the LEI bandwagon. Take Joss Technologies, for instance, whose Entity Data Management System (EDMS) provides a platform for surprisingly user-friendly legal entity data management. EDMS replaces dated constructs such as writing data quality rules in pseudo-code with easy-to-use, drag-and-drop functionality and slide bars that even business users can master easily. And like other forward-looking vendors, Joss is positioning its product as an enabler for compliance with Form PF, the Foreign Account Tax Compliance Act, the Office of Foreign Assets Control and other regulations.

FTF News Predictions for 2013

February 8, 2013, FTF News

On another front, we foresee a new push for enterprise-wide control of data that can help firms get around the walls and barriers of internal data and business silos (page 13). While this is not as sexy as Big Data trend, it is a major change for many firms as they struggle to better use data across their enterprises and still meet the demands of regulatory requirements such as cleared and executed over-the-counter (OTC) derivatives. New data links can also pave the way for innovative connections among front, middle- and back-office systems.

Business Entity Data special report

November 12, 2012, Inside Reference Data – Waters Technology

The industry can hope that accomplishing LEI implementation and the business entity data efforts that has spawned will raise the data quality to a height that compliance with the next regulations on its agenda will go smoother.

What the Global Legal Entity Identifier (LEI) Will Mean for Your Firm

Reference Data Review

September 25, 2012, A-Team Group

Delaney: What are your suggestions regarding best practice for data managers at financial institutions charged with implementing the LEI?

Schlatter: As a specialised solution for entity data management, we are obviously having a lot of discussions with our clients around the LEI implementation. While some industry participants view it as ‘just a mapping exercise’, we believe the implications on institutions’ architecture are much deeper. Relying solely on external providers will not be sufficient. Our approach is to create a clear and sustainable plan for better entity data management. We recommend a step-by-step strategy with quick-to-implement outputs:

  1. Reconcile internal data from all the different silos without trying to break those silos – don’t boil the ocean!
  2. Once the entity-linkage phase is completed, analyse data and improve quality – that’s when you can plug in external data providers
  3. Set up work flows to automate and control entity creation and data maintenance
  4. Distribute improved data back to the different silos

These four phases should actually be run on a regular basis to guarantee data accuracy over time. We strongly believe that entity data management and LEI mapping are not one-time tasks, but need to be new recurring processes.

Q&A: Meet Joss Technology

September 11, 2012, FTF News

Many in the industry will argue that the push for standardized legal entity identifiers (LEIs) will bring many benefits to those financial services firms that face nightmares of confusion stemming from multiple identifiers for the same entity. It’s also true that vendors stand to gain quite a bit from the LEI push.

A new player among the vendors is Joss Technology, a New York-based upstart that is hoping to break new ground with offerings that aim to eliminate the trade processing problems caused by poorly maintained data.

Legal Entity Data Services: A Vendor Beauty Parade

September 4, 2012, Research report from Aite Group

In recent years, the solution and data vendor community that is active in the legal entity data space has grown rapidly in tandem with financial institutions’ and regulators’ modest but increased investment and interest in this space. Aite Group expects spending on this area to increase from US$117.4 million in 2012 to approximately US$197.5 million by 2015. Given that some firms have increased their spending in this area by 100% over the last five years, it is no surprise that vendors have taken an interest in adding services tailored to this data set.

This increase in investment will be largely driven by regulatory compliance projects, the need to better assess counterparty exposure in a volatile market environment, and, over the longer term, the drive to better service and retain key clients.