OpenFin, the operating system (OS) of finance, today announced that AllianceBernstein, the global asset management firm, has chosen OpenFin to help accelerate their digital transformation strategy.
The collaboration will help AllianceBernstein modernize their desktop technology infrastructure, allowing integration and interoperability with legacy and third-party applications without the need to rewrite legacy code. AllianceBernstein is now actively migrating .NET and legacy applications onto OpenFin OS, accelerating their movement to web technology.
As a result, AllianceBernstein’s traders can develop more efficient workflows and make better use of their existing trading tools. The ability to interact with both internal and external applications ultimately empowers traders to add even greater value to both the investment and execution process.
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 60+ countries. 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.
OpenFin effectively enables digital transformation at speed, accelerating a generational shift in how applications are developed, distributed and maintained on financial desktops.
Michael Herskovitz, Co-Head of Technology and Operations of AllianceBernstein said: “We have a very clear, firm-wide strategy to modernize 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.”
Mazy Dar, Co-Founder and CEO of OpenFin added: “We are delighted to partner with AllianceBernstein on their journey towards digital transformation. They are leading the way in adopting innovative and collaborative technology solutions that empower their traders, improve performance and ultimately help the firm maintain a competitive edge.”
He added: “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.”
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