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Avaloq vs Synapse. Avaloq Alternative. Synapse Alternative

Which core banking platform is right for your business?

Next-generation banks are disrupting the banking industry. Instant transfers, detailed analytics, and currency exchange at interbank rates are just some of the innovative features that most established banks cannot implement due to the outdated technology at their cores. 

With a modern core banking platform, banks can modernize their product offerings quickly and efficiently. In fact, according to McKinsey, some 70% of banks are already looking to upgrade their core systems to lower costs, accelerate time-to-market, personalize products, and create payment ecosystems. 

Avaloq

Avaloq’s core banking platform used by LGT, Deutsche Bank, and Barclays, among many others, offers optimized efficiency and future-proofed software. With more than 70 modules and digital solutions, the highly modular platform can be seamlessly integrated and scaled to best match the needs of a client.

Avaloq’s system delivers out-of-the-box efficiency with the flexibility to run ‘as is’. The company’s tried and tested process gets many banks and wealth managers up and running in just 90 days. The platform excels at reducing redundancies and streamlining back-office operations, so staff can focus on high-value tasks while clients receive superior digital service.    

Synapse

Synapse provides a wide range of API-based products to enable financial innovation on top of traditional banking infrastructure. With the aim to deliver the best-in-class financial products to every customer around the world, Synapse’s new platform has attracted significant attention and funding from funds like Andreessen Horowitz’s a16z. 

Synapse offers developer-facing white-labeled APIs for companies to build innovative financial products and bank-facing APIs to automate and optimize back-end operations. Whether it’s payments, bank accounts, compliance screening, or risk mitigation products, Synapse provides scalable products and enables companies to grow efficiently. 

AvaloqSynapse
Founded19852014
Number of clients150250
HeadquartersZurich, SwitzerlandSan Francisco, United States
Customer profileWealth managers, retail banksBanks, FinTechs, Internet companies
Number of end-customersUnknown – $4.5 trillion in assets1.8 million+
Number of employees2,000126
Number of offices241
SolutionsAvaloq Core
Avaloq Wealth
Avaloq Engage
Avaloq Insight
White-labeled APIs for banking services

Core Banking Software alternatives

SDK.finance

SDK.finance is the core payment software provider with a strong API layer for banks and FinTechs. Founded in 2013 and based in Vilnius, Lithuania, they offer a highly secure and mobile-ready solution to delight banking customers and take the lead in the open banking world.

The Platform consists of 5 main components: a back-end wrapped in 400+ API endpoints, 3 front-end frameworks, and web for system management with capabilities in iOS and Android for our clients.

SDK.finance offers Digital Retail Bank software in whitelabel. 

Click here to learn more about the SDK.finance core banking platform, its features & functionality, use cases, integrations, and API, security, and used technologies.