BST Awards 2022: Best buy-side data management product—Alveo

Overview

Alveo recently launched Prime Cloud, the latest release of its data management platform. Prime Cloud is designed to help companies onboard and incorporate new data sources, monitor and improve data quality, manage data workflows, track usage, provision business users and scale applications, and implement complex analytics. Prime Cloud provides cloud provider-agnostic deployment, a globally distributable solution and, thanks to its storage structure and linear scalability, high-performance write and read operations.

What problem does it address?  

Prime Cloud’s microservices architecture and containerization are designed to support optimal load-balancing and use of resources. It has a natively redundant set-up due to replication across multiple nodes and zones―customers can fine-tune control over global and regional deployment keeping local data restrictions in mind. Thanks to its storage structure and linear scalability, performance improvements can be achieved especially for time-series histories.

Secret sauce 

Prime Cloud differentiates itself through its microservices architecture, which supports scalability and lowers total cost of ownership (TCO). Its user interface, Ops360, provides transparency around data acquisition, validation and distribution. For clients using the firm’s data-as-a-service (DaaS) offerings, this provides them with as window to look “under the hood”; while for those customers managing their own data operations, this means configurability of workflows and business rules, and the onboarding of new sources and applications.

Recent milestones

• Introduction of containerized version of Prime Cloud leveraging cloud-native components. Prime Cloud is cloud platform-agnostic―it runs on AWS, GCP, Azure and OCI.
• Rollout of Ops360, including data-quality dashboards and no-code workflow configuration for data acquisition, cleansing and distribution.
• Expansion of content coverage including ESG datasets from FactSet and Six Financial Information. Alveo’s standard data model has been expanded to include all the regulatory required fields for ESG reporting.

Future objectives 

• Further buildout of Alveo’s managed services and its data-as-a-service (DaaS) business. The company recently signed its first DaaS customer for corporate actions data cleansing. The new Prime Cloud release will serve as the foundation for this business.
• Migrate existing clients to Alveo’s Prime Cloud offering or to its managed services.
• Further expansion of content integration and standard data model, and integration with analytics libraries.

Why they won

London-based Alveo returns to the BST Awards winners’ circle, this time in a different category: Last year’s win was in the best managed data service category, while this year Alveo walks away with the ultra-competitive data management category, thanks to a new offering. Alveo’s Prime Cloud platform, unveiled in September 2022, is a cloud-native, containerized version of its flagship Prime product. At the heart of Prime Cloud is its user interface, Ops360, designed to provide users with transparency around their data acquisition, validation and distribution processes. Winning this category underlines Prime Cloud’s value proposition to the buy side.