19 September 2017
Find out more

Solix reports major bank big data contract win

18 October 2016  |  3048 views  |  0 Source: Solix Technologies

Solix Technologies, the leading provider of enterprise data management solutions, announced today that a Top 10 Forbes Global 2000 bank has selected the Solix Big Data Suite to provide enterprise archiving, data lake and advanced analytics on Apache Hadoop.

Banks are embracing big data as an enterprise data management transformation to control data growth, improve infrastructure utilization, and provide the advanced analytics necessary to become data-driven. The Solix Big Data Suite enables this leading bank to capture, manage and analyze critical information such as what services customers are buying and what security and business risks the banks faces such as check or credit fraud.

“With financial data growing at increasing rates, big data handles less frequently accessed data to improve production application performance and reduce infrastructure costs,” said Sai Gundavelli, Founder and CEO of Solix Technologies. “More importantly, enterprise archiving provides a foundation for advanced analytics, so that financial institutions can better understand their customers and become more data-driven.”

As Gartner stated in its 11 March 2015 (Refreshed: 22 September 2016) “The Taxonomy of Banking Analytics Value” report:

“Bank CIOs should position analytics, especially advanced analytics that can connect with big data and offer forward-looking predictive analysis, as the key to thriving in the new digital world.”

The Solix Big Data Suite provides a common data platform for enterprise archiving and data lake using low cost, bulk data storage based on Apache Hadoop. As a uniform data collection system the Solix Big Data Suite stores and manages structured and unstructured data from across the enterprise. Data security and advanced Information Lifecycle Management (ILM) establish governance controls for all enterprise data including legal holds. Compliant access control is provided for structured queries, reporting and/or full text search.
 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.sibos.comdownload the paper nowvisit www.vasco.com

Top topics

Most viewed Most shared
IBM and UBS team on blockchain payments for carsIBM and UBS team on blockchain payments fo...
10565 views comments | 18 tweets | 37 linkedin
JPMorgan Chase chief says he would fire traders dealing in bitcoin for stupidityJPMorgan Chase chief says he would fire tr...
10449 views comments | 16 tweets | 29 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
9768 views comments | 6 tweets | 17 linkedin
iPhone X gets Face ID for Apple PayiPhone X gets Face ID for Apple Pay
8884 views comments | 11 tweets | 22 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
8808 views comments | 6 tweets | 3 linkedin

Featured job

Find your next job