US-based investment management and broker AllianceBernstein has partnered with OpenFin to overhaul its existing desktop technology infrastructure to a cloud-based operating model.
OpenFin will provide AllianceBernstein with its application-agnostic operating system (OS) created specifically for financial markets participants, and is now in the process of migrating the investment manager’s existing .NET and legacy applications onto the web-based OpenFin OS.
The project forms part of AllianceBernstein’s digital transformation strategy and Michael Herskovitz, co-head of technology and operations at the firm, told The TRADE that its strategy revolves around modernising its technology infrastructure while maximising the usage of third-party applications coming to market.
“It was a critical component of ensuring that as we were migrating applications to the cloud, we were able to build key components of interoperability, that allowed us to link applications quickly, and also to avoid having to deal with a morass of APIs,” Herskovitz explained.
“Now we have taken it even further to understand how we can link applications and tools internally, both things that we build as well as things that we integrate.”
One of the largest obstacles facing buy-side firms that are transitioning to a new technology stack is how to incorporate legacy applications and code that are integral to workflows into a new structure without disrupting vital processes.
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