Fintech firm Avaloq announces the launch of a new collaborative platform to help the financial services industry work more effectively with fintechs. Avaloq’s new platform avaloq avaloq.one aims to seamlessly connect leading fintechs and their solutions to its global financial clients, the company said in a statement on Tuesday. The platform is designed to promote and showcase true fintech innovation and place Avaloq, its fintech partners, and its clients at the forefront of the digital revolution underpinning the next generation of financial services.
«We are excited and proud of our new platform and are actively looking to partner with fintechs around the world to grow our marketplace. Our aim is simple: to make avaloq.one the world’s leading ecosystem of banks, wealth managers, fintechs and developers,» said Martin Greweldinger, Group Chief Product Officer at Avaloq in a media statement.
avaloq.one is meant to speed up and streamline implementation for all parties through standardized Open Application Program Interfaces (APIs), with fintechs benefiting from a partnership with the ability to self-onboard to the platform, self-integrate with Open APIs, journeys and the avaloq.one sandbox capabilities. In addition, participating fintechs only need to integrate their solution to the Avaloq Banking Suite once to engage with Avaloq’s clients.
For banks and wealth managers, avaloq.one allows access to greater innovation, and they will remain competitive by choosing from a selection of fintech applications pre-integrated to Avaloq’s Banking Suite in one place. Avaloq will continuously screen the market and validate fintech solutions and the company behind it as it looks to build an ecosystem of the world’s «fintech finest» that institutions can trust.
«Being part of the avaloq.one ecosystem is a significant development for our firm. The platform gives us access to some of the world’s leading financial institutions and is an excellent opportunity to better connect with financial institutions and drive innovation across the industry. We have integrated once and can now reach over 150 financial institutions and millions of their clients worldwide,» said Oliver Berchtold, Co-Founder of YUKKA Lab.
avaloq.one will be launched at Fintech Tuesday in Zurich on Tuesday night, a new event format where banks, fintechs and the Avaloq team meet. Avaloq reported full-year revenues of 579 million Swiss francs for FY2018, up 6 percent on an underlying basis.