Cloudera gathers momentum in financial sector through Digital Transformation

Cloudera brings various value-added services (VAS) for four key important sectors that include financial, telecom, health and cybersecurity. By seeing the growing concern on the cybersecurity across the globe, Cloudera works with more than 180 leading global financial organizations, including Allstate, Bank of Mandiri, DBS Bank, Royal Bank of Scotland and Credit Suisse to realize business value in the areas like customer Insights, Fraud Detection, Cybersecurity, Risk and Compliance.

In an exclusive interaction with VARINDIA, Amr Awadllah, Founder, CTO, Cloudera, said that financial institutions have many challenges to overcome as they move to embrace digital transformation, including customer journeys, fragmentation, security, privacy and data quality. Cloudera brings its enterprise data hub from financial firms that need to address these complex business challenges and enable faster and more accurate analysis while adhering to regulations and requisite security and governance practices.

Growing acceptance of Cloudera is its platform that is helpful for transforming existing process through machine learning/Artificial Intelligence and predictive modelling. There is a growing customer momentum in the financial services organizations since they are adopting modern data management and analytics platforms to ensure their data is secured, easily accessible and compliant with the latest industry regulations.

David Gledhill, CIO, DBS Bank, said, "Over the past few years, we have been deeply immersed in furthering our digital innovation agenda. From changing the  culture and mindset of our employees to re-architecting the bank's technology infrastructure and leveraging artificial intelligence, biometric and data analytics, we hope to create a more intuitive and seamless banking experience for our customer. We are excited about the data solution of Cloudera that provide to improve our customer proposition.”

Alasdair Anderson, Executive Vice-President, Nordea, said, “We have modernized our IT landscape by using Cloudera's platform for data processing, management, storage, and lineage, which has expedited performance, improved the economics of IT investments and enhanced data quality. As a result, Noreda is now positioned to reduce risk and achieve regulatory compliance while delivering enhanced customer experiences.”

Cloudera’s Partner Ecosystem 

To deliver the most effective, real-time data analytics solutions specific to the financial services market, Cloudera has partnered with CSC and SAS to deliver compliant environments that decreases time and cost. 

Jim Coleman, Big Data Product Practice Partner, CSC, said, “Cloudera was critical to our PCI/HIPAA-compliant solution. The unique technologies of Cloudera navigator, Cloudera Sentry and other security capabilities were essential for the successful audit of the solutions.”

David M. Wallace, Global Financial Services Marketing Manager, SAS, said that partnering with Cloudera allows SAS to provide financial services to customers and enterprise data hub where they can have all their data in one place. This promotes collaborative efforts between the analytical teams and provides timely, reliable and accurate information needed to support business decisions.