Glue42, a provider of integrated desktop solutions for financial institutions globally, has released a new version of its open-source platform, Glue42 Core.
The new release, version 2.0, enables different lines of business within buy and sell side institutions to collaborate more effectively and enjoy a better user experience across their entire fintech ecosystem.
Glue42 Core version 2.0 is based on Glue42’s widely-used interoperability platform Glue42 Enterprise, which enables financial institutions to integrate any type of application. Glue42 Core is designed to support the seamless integration of web applications and is itself web deployed, requiring zero-installation.
The update follows users’ requests for simplified development and deployment processes. With the new version, development teams will now be able to deploy this technology across multiple domains and deliver optimised workflows regardless of whether the apps reside in or outside their firm’s network.
The release comes at a time of great market volatility. By combining disparate applications into unified workspaces, manual tasks including search, copy/paste and inter-app navigation can be eliminated – so traders can respond to market events faster.
For IT teams, it’s an easy way to familiarise themselves with the concept of desktop interop. The open license along with a familiar browser environment helps them evaluate and adopt the software at a pace that is comfortable to each individual team. It is also fully compatible with existing desktop interop solutions for a deeper desktop integration when necessary.
“Glue42 Core is already an integral part of our digital transformation journey,” says Andy Robertson, CIO, Chelmer, a pioneer in wealth technology. “The software enables us to deliver innovation quickly and adapt applications dynamically — reassembling capabilities from inside and outside the enterprise”, a philosophy that Chelmer has embraced and delivers through their Myriad platform. “Version 2.0 will enable us to integrate and embed our apps directly into our clients’ workflows. This considerably improves ease of use and helps traders and advisors focus on their business rather than swivelling between applications.”
In releasing this version, Glue42 is joining a growing list of banks such as Goldman Sachs and fintechs investing in open-source technology. Forty-three percent of technologists in finance surveyed last year by the New Stack and Linux Foundation said their organisations had an open-source program or initiative, up from 23 per cent in 2019.
As Glue42 Core version 2.0 further lowers the barrier to feature-rich, application interoperability, it also marks a major industry milestone towards overall commoditisation. While the new version can be used in conjunction with enterprise solutions, its growing list of functionality presents a compelling use case for instances where integration of web apps is required. More so, the ability to customise workspaces and handle application notifications further closes the gap between open-source and full enterprise class software in capital markets.
“We need to accept that desktop integration has come of age. It can be used for both simple and complex use-cases with no additional license cost AND no need to install software on users’ machines,” says Leslie Spiro, CEO, Glue42.
“With version 2.0, we continue our journey of making web application integration more accessible to firms of all sizes and continue the development of common open-source standards for capital markets,” he says.
