The upgrade to Avaloq’s open software architecture allows financial institutions to consolidate IT operations onto a single platform. This will enable Avaloq’s clients to build, deploy and manage Avaloq and third-party applications, such as output management systems, more consistently across internal infrastructures.

Avaloq is collaborating with open source solutions provider Red Hat, to standardise the deployment and operation of software components by means of Red Hat’s Kubernetes1 application platform Red Hat OpenShift. The collaboration with Red Hat reflects Avaloq’s commitment to promoting cloud-based processes.

The key components of Avaloq’s open software architecture are self-contained systems and microservices2 deployed as Docker3 containers, orchestrated by Kubernetes. Each self-contained system is designed to handle a single business aspect, such as goal-based wealth management. Avaloq’s modular approach means that financial institutions can adopt and upgrade individual self-contained systems as well as microservices independently.