AllianceBernstein is working with OpenFin, which provides an operating system (OS) to financial services firms, in a bid to help accelerate its digital transformation strategy.
In a release issued today, OpenFin says that this collaboration will enable AllianceBernstein to modernise its desktop technology infrastructure, allowing integration and interoperability with legacy and third-party applications without the need to rewrite legacy code.
The asset manager is now actively migrating .NET and legacy applications onto the OpenFin OS, accelerating its movement to web technology. This move is designed to enable AllianceBernstein’s traders to interact with both internal and external applications, develop more more efficient workflows and make better use of their existing trading tools.
Interoperability comes as standard for all applications built on OpenFin OS, allowing them to share information, intent and context with third party apps in a permissioned manner. The OpenFin OS is now being used to deploy more than 1,000 applications to more than 1,500 major banks and buy-side firms located across over 60 countries.
“We have a very clear, firm-wide strategy to modernise our technology infrastructure, which will improve trader workflows and ensure that we can efficiently leverage innovative third-party apps coming to market. Through extensive due diligence we determined the best way for us to achieve our strategy was to collaborate with OpenFin. Building on OpenFin’s OS makes sure integration and interoperability between our existing applications, as well as a number of third-party apps, makes our workflows more efficient,” says Michael Herskovitz, co-head of technology and operations at AllianceBernstein.
Mazy Dar, co-founder and CEO of OpenFin, adds: “We believe partnerships that foster and enable a culture of openness and collaboration serve to accelerate innovation. We have already seen this as a result of the wide adoption of OpenFin OS, which is generating significant network effects for our users. We are excited for the opportunities that the collaboration with a global asset management firm such as AllianceBernstein can bring to our efforts to drive innovation not only on financial desktops but also across the industry.”