Cloudera Inc (NYSE:CLDR) has announced forming a partnership with Simudyne. Cloudera Inc is a leading modern platform for analyst and machine learning while Simudyne is a leader in the provision of simulation software. The two companies will partner in jointly launching the first computational simulation platform, which will be built specifically for big data to the financial industry. Now financial institutions and banks can design, build and operate any detailed simulation model on a large scale. This will give CEOs plus other senior business leaders the capability to make quick and better decisions whether in a hybrid environment or on premises.
While commenting on the deal, Cloudera’s chief executive officer Tom Reilly said that with the Cloudera Enterprise working together with the Shared Data Experience (SDX), the company is able to offer security capabilities, the identity management, data governance and policy enforcement which are needed by banks for compliance with regulations. He added that financial institutions can make use of the company’s flexible machine learning platform to safely store volumes of heterogeneous data compared to what they could store before. They can then subject it to any form of processing as well as analysis frameworks. He noted that combined with Simudyne, the new improved approach of gaining insights as well as getting to understand risks will help financial institutions to come up with better business decisions as well as make better predictions according to emerging economic scenarios.
Many financial companies are having a lot of pressure to grow business while at the same time mitigate any financial risk as well as remain in compliance with the regulations. Although analytics tools available in the market offer several measures of exposing the risks, they are unable to completely consider and address complexities that are found in today’s business world. Several banks and financial institutions have spent a lot of time and resources in trying to comply with the stringent regulatory requirement. However, there are still many limitations to the available methods of risk modeling.
Simudyne’s main technology is the only simulation platform that has been approved to operate on Cloudera Enterprise. Using Cloudera’s modern and improved platform, financial companies are able to manage risks, allow manageable stress testing tools, promote economic stability and drive better customer insight.