Side by side
Avaloq vs Finastra Essence
Both stand on core banking software. Which one you can start free with, which one lets you read the code, and what each costs once you pay.
Paid AndroidAPIiPhone+2
Avaloq brings a wide range of banking and wealth management processes into one platform, with several delivery models and integration paths. Institutions should request pricing and evaluate which capabilities and deployment approach fit their operations.
Visit Avaloq Paid APISelf-hostedWeb
Finastra Essence combines broad core banking coverage with configurable products and API-based integration. Prospective customers need to request pricing from Finastra.
Visit Finastra EssenceThe facts
| Avaloq | Finastra Essence | |
|---|---|---|
| Free plan | Not published | No |
| Open source | Not published | Not published |
| Runs on | Android, API, iPhone, Self-hosted, Web | API, Self-hosted, Web |
| Lowest paid plan | Free or on request | Free or on request |
| Plans published | 1 | 1 |
| Maker | Not published | Not published |
| Website | avaloq.com | finastra.com |
| On core banking software | #3 of 24 | #7 of 24 |
Avaloq: what it does well
- Covers more than 100 financial products.
- Supports SaaS, platform-as-a-service, and on-premises deployment.
- Digital channels include web and mobile experiences.
- Offers APIs, data streaming, and standard interfaces.
- Includes loan management and regulatory reporting.
What to know first
- Pricing is available only on request.
- The platform is intended for financial institutions.
- Deployment includes on-premises and hosted options to assess.
Finastra Essence: what it does well
- Real-time processing covers deposits, lending and payments.
- Supports multicurrency processing and broad core banking functions.
- No-code product composer and configurable business rules.
- Dashboard combines customer view, metrics and data insights.
- API access and event-driven architecture support integrations.
What to know first
- Pricing is available on request, not publicly listed.
- Product is designed for institutional banking, not individual consumers.
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