London, UK – 19th January 2021 – Today Alveo announces support for Postgres within its Prime financial data aggregation and mastering product. This increased support of open source technologies will facilitate clients running Prime in the cloud, allowing them to reduce their operating costs. Postgres has been proven to reduce overall annual infrastructure running cost by up to 65%.
Postgres is a leading open-source relational database that financial institutions are increasingly utilizing as they move more data management infrastructure into the cloud and are looking for cost-effective, scalable technologies to underpin those initiatives.
“Support for Postgres within Prime is in line with our overall technology roadmap which emphasizes the use of open source components combined with our unique IP in sourcing, integrating, validating and distributing financial data”, commented Mark Hermeling, CTO, Alveo. “This development follows feedback from clients, particularly from those that run Alveo in the cloud.”
“Postgres is a well-established technology that meets clients’ scalability requirements and excels in value-for-money, support and compatibility with other infrastructure components, especially in the open-source space”, commented Neil Sandle, Head of Product Management, Alveo. “Postgres has a large install base and is a common skillset. As license costs are greatly reduced, customer Capex, as well as maintenance, can also be reduced.”
Data is a huge and increasing part of financial services jobs and users require data accessibility, insight and control to improve productivity. Alveo’s overall product strategy focuses on enabling clients to source data cost-effectively, to avoid duplication, and to optimize data ROI.
Through managed vendor interfaces covering product data, pricing, indices and ratings, structured data workflow and data lineage, Alveo helps customers sustainably improve data quality and productivity. Alveo’s Prime data mastering solution works in tandem with its Alpha market data warehouse, merging the often separate capabilities of data management and analytics.
Alveo is the leader in market data integration and analytics solutions for financial services. Focused on optimizing data flows for business user self-service, we provide cloud-native data aggregation and data quality management that enables clients to easily access trusted data while maximizing their data ROI.
Through our managed services, we ensure that clients can smoothly onboard, prepare, and validate data for use in operations, trading, investment management, pricing, risk, reporting, and machine learning.
We service a global client base and our award-winning technology provides easy integration into business user workflows and a proven platform for advanced analytics. By combining deep domain expertise with the latest open-source technologies, we help financial institutions ensure high-quality data, optimize market data cost, and maximize productivity.
 Source IDC report on EDB: https://www.enterprisedb.com/blog/it-market-research-firm-reveals-168-roi-edb-postgres-platform ).