Avaloq launched avaloq.one, a platform that aims to foster collaboration and innovation in the financial services industry. The platform is designed to connect fintechs with Avaloq’s global financial services clients through standardised Open Application Program Interfaces (APIs). avaloq.one was first showcased as a prototype in October 2018 at FinovateAsia, where it won the “Best of Show” award.

The platform allows fintechs to self-onboard to the platform, self-integrate with Open APIs, and journeys. Participating fintechs only need to integrate their solution to the Avaloq Banking Suite once to engage with Avaloq’s clients. The platform also offers the avaloq.one sandbox, which allows fintechs to rapidly develop and simulate prototype solutions in a test environment.

Avaloq.one

avaloq.one will provide banks and wealth managers an opportunity to drive innovation and discover synergies by choosing from a selection of fintech applications pre-integrated to Avaloq’s Banking Suite in one place, helping them remain competitive in the rapidly transforming financial services industry. In order to create a trusted ecosystem, Avaloq intends to continuously screen the market and ensure the fintechs and their solutions are properly vetted.

Martin Greweldinger, Group Chief Product Officer at Avaloq, said: “Avaloq is committed to delivering future-proof products and services and avaloq.one allows our clients to remain at the cutting edge of innovation today and tomorrow. 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.”

The platform has already onboarded and helped launch firms such as YUKKA Lab, Adviscent, Qwil Messenger, Wealthinitiative, Vlot Ltd., and C’boe VEST Financial Technologies on its marketplace.

Oliver Berchtold, Co-Founder of YUKKA Lab, said: “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. Avaloq has been highly supportive of our business, helping test our solutions and will be boosting our global reach. We have integrated once and can now reach over 150 financial institutions and millions of their clients worldwide.”

 

by Devansh Patel
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