Avaloq
6.4#2 in digital banking platformsAndroidiOSWebAPI
VisitAvaloq vs Mifos X
What both publish
| Fact | Avaloq | Mifos X |
|---|---|---|
| Deployment | Avaloq offers SaaS Go, software as a service, platform as a service and on-premises deployment options. | Mifos X can be deployed in the cloud or on premises, and the maker describes use on or offline and on mobile or PC. |
| Founded | Avaloq says it was founded in 1985 as BZ Informatik, an IT subsidiary of BZ Bank. | 2011 |
| Headquarters | Avaloq Group Ltd. identifies itself as a Swiss company registered at Allmendstrasse 140, 8041 Zurich, Switzerland. | United States |
| Integrations | Avaloq describes an open architecture with API and data-streaming connectivity, standard interfaces and third-party components. | The platform exposes APIs and webhooks for integrations, and its SMS bridge includes an out-of-the-box connection with Twilio. |
| Purpose | Avaloq provides a comprehensive banking and wealth management platform for complex financial institutions. | Mifos X is a core banking platform built on Apache Fineract for delivering financial services and financial inclusion. |
| Support | Avaloq advertises 24/7 support with continuous monitoring, fast issue resolution and dedicated global support through its managed services. | Certified local partners can assist with implementation, hosting, and support, while community mailing lists and Slack offer trial setup and configuration troubleshooting. |
Avaloq plans
- Avaloq platformPriced on request
Mifos X plans
- Mifos X open-source platformFree
- Mifos X trial sandboxFree
Pick Avaloq if…
Avaloq is aimed at banks and wealth managers that need banking and wealth management capabilities across complex operations. Its deployment choices and API connectivity may suit institutions with varied technical environments.
Pick Mifos X if…
Mifos X suits financial institutions that need core banking functions for clients, loans, savings, and related services. Its intended users include banks, credit unions, SACCOs, cooperatives, microfinance institutions, savings groups, peer-to-peer lenders, and asset financers.