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% [1].

Postgres is a leading open source relational database that financial institutions are increasingly utilising 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 emphasises 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 optimise 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.

[1] Source IDC report on EDB: https://www.enterprisedb.com/blog/it-market-research-firm-reveals-168-roi-edb-postgres-platform.