Avaloq
6.4#2 in digital banking platformsAndroidiOSWebAPI
VisitAvaloq vs Tuum
What both publish
| Fact | Avaloq | Tuum |
|---|---|---|
| Deployment | Avaloq offers SaaS Go, software as a service, platform as a service and on-premises deployment options. | Tuum describes public cloud, private cloud, on-premises, and hybrid deployment options. |
| Founded | Avaloq says it was founded in 1985 as BZ Informatik, an IT subsidiary of BZ Bank. | 2019 |
| Headquarters | Avaloq Group Ltd. identifies itself as a Swiss company registered at Allmendstrasse 140, 8041 Zurich, Switzerland. | Tallinn, Estonia |
| Intended customers | Avaloq describes its platform and services as serving banks and wealth managers. | Tuum says it serves institutions ranging from multinational banks to fintechs and small and medium-sized enterprises. |
| Payments | Payments capabilities support major networks and schemes, ISO 20022, instant payments, standing orders, direct debits and card processing. | The payments module handles SEPA, SWIFT, FX, local payment schemes, and direct debits, with rule-based routing and liquidity management. |
| Security | Avaloq says its database architecture handles data modifications through a single code base and is designed to provide high levels of protection. | Tuum announced SOC 2 compliance in March 2024 and says its systems and processes were evaluated against security standards. |
| What it does | Avaloq provides wealth management technology and services for financial institutions, including private banks, wealth managers, investment managers, retail banks and neobanks. | Tuum is a modular, cloud-native core banking platform for banks and fintechs, covering accounts, payments, lending, cards, and Islamic banking. |
Avaloq plans
- Avaloq platformPriced on request
Tuum plans
- Custom enterprise platformPriced on request
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 Tuum if…
Tuum is aimed at traditional and digital-first banks, fintechs, and other financial institutions seeking modular banking software. Its deployment choices and banking modules may suit organizations modernizing alongside legacy systems or selecting capabilities incrementally.