Netezza Corporation (NYSE: NZ), the global leader in data warehouse and analytical appliances, and Patni Computer Systems (BSE: PATNI COMPUT, NSE: PATNI, NYSE:PTI), a leading global IT and business process outsourcing (BPO) services provider, today announced that they will partner to develop solutions for the financial services industry built upon Netezza's data warehouse platform and designed with Patni's extensive industry expertise.
Patni and Netezza will offer a series of solutions designed to address the data challenges facing large financial institutions today while providing the scalability necessary to meet future requirements. Paired with the high-performance Netezza platform, Patni's suite of solutions will target financial institutions looking to improve data analysis and management within their operations. The companies expect that the first solution will be offered this summer.
"Netezza is the benchmark when it comes to throughput speed, data reconciliation, data analysis and data warehouse platform management," said Sumedh Methta, SVP and head of Patni's Financial Services Business Unit. "Increased regulatory pressures coupled with a continually changing business landscape causes financial services organizations to face growing amounts of data. Patni and Netezza will deliver new solutions that will address the data management concerns for customers and enable them to focus on cost efficiencies, customer service and increasing revenue."
"Data management continues to be a critical challenge for financial services organizations worldwide," said Steve Williams, vice president Sales, Financial Services at Netezza. "The industry will benefit from Netezza's partnership with Patni, which offers higher-performance, lower-cost solutions that can be implemented quickly and cost effectively."