CLOUD STORAGE

Avaloq Partners with Google Cloud to Become Leading Provider of Cloud Platform Solutions

Avaloq | November 13, 2020

Customers of the Swiss-based fintech software provider will have the option to utilize its advanced banking suite and different stages on Google Cloud, per Finextra. Avaloq offers its abundance the executives and banking customers a variety of start to finish arrangements through its foundation, which robotize manual back-office cycles and improve data analytics abilities, among different territories.

The vital association underpins Avaloq's central goal to turn into the main supplier of cloud stage arrangements by facilitating an opportunity to-market and versatility of its answers. Customers will have the option to run Avaloq's cloud-local arrangements quickly through Google Cloud, instead of coordinating the applications onto Google Cloud's or another provider's platform themselves.

This will spare customers time and exertion, making Avaloq's answers more appealing to financial institutions (FIs). All the while, FIs will have the option to get to Google framework to quickly scale the utilization of Avaloq's cloud-based applications and their related advantages, for example, the mechanization of manual back-office measures.

Avaloq's Google tie-up is very much coordinated, given that FIs are quickening their cloud techniques and a portion of its rivals as of now have associations with the huge three cloud suppliers.

FIs progressively see cloud methodologies as pivotal to conveying their advanced changes, and they're set to build their consumption on cloud administrations. Cloud-based arrangements can bring down FIs' drawn-out IT costs by utilizing registering power on request and lessening the overhead of claiming and running programming framework. Given that around 60% of US banks' complete tech spend goes toward keeping up inheritance frameworks, cloud methodologies will be basic for those hoping to reduce expenses. Officeholders in key business sectors, for example, the US and Canada, have shown in their yearly reports that they will quicken their cloud methodologies—which presents an open door for arrangement suppliers like Avaloq to drive income development.

Avaloq's banking programming rivals as of now have organizations with significant cloud suppliers set up, prodding the firm to close the gap. For instance, Temenos has collaborated with Google Cloud, while Murex is banded together with driving suppliers Amazon Web Services (AWS) and Microsoft Azure, among others. To remain serious, Avaloq needs to offer comparable usability around the organization of its cloud-local arrangements—which the Google Cloud tie-up will permit. Going ahead, Avaloq ought to consider collaborating with other cloud suppliers (both inside and outside the huge three) to guarantee it doesn't pass up potential FI customers that principally run applications on different suppliers, for example, AWS or Azure, and may decide on a contender for comfort purposes.

About Avaloq:

Avaloq is driving the digital transformation and automation of the financial services industry.

Our customers are the leading banks of today and tomorrow. Based on our fully integrated banking software, we create powerful digital experiences provided through a standardised Business Process as a Service (BPaaS) or Software as a Service (SaaS) model to banks and wealth managers.

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