How Financial Services deal with the deluge of data they need to manage

#AskTheCEO Podcast

Connect with ZettaLabs on the Azure Marketplace: https://bit.ly/2Ag7mLK Eliud Polanco is the CEO and Co-Founder of ZettaLabs, a company that creates software that simplifies and automates the processes of organizing, cleaning, and creating analytically-ready structured data inside Data Lakes, at petabyte scale. As part of this discussion, we shared how their partnership with Microsoft, their use of Azure, and the Azure Marketplace has empowered them to scale and grow their business. Contact Eliud: Web:https://www.zettalabs.com/ LinkedIn:https://www.linkedin.com/company/zettalabs Twitter: @zettalabs Facebook: https://www.facebook.com/ZettaLabs-349320402331435/ Microsoft partnership opportunities for companies with Financial Services solutions: [e-mail] Contact Avrohom: Web: https://asktheceo.biz Facebook: AvrohomGottheil Twitter: @avrohomg Instagram: @avrohomg INTERVIEW HIGHLIGHTS: [00:45] If there is one thing that Digital Transformation has resulted in, it’s the deluge of data for every business in every industry. Your company, ZettaLabs, serves the Financial Services industry, which is highly regulated and extremely vulnerable to Cyberattacks. What are the challenges that Financial Services companies struggle with regarding managing and securing their sensitive data? Eliud: Many Financial Services firms have poor data quality - the data is created and managed in silos, data is missing or is inaccurate and does not reconcile, etc. This leads to downstream degradation of business capabilities e.g. firms can't trace customers across all of their product relationships, can't fully capture all risk exposures across all of their counterparties, fully reconcile information between front, middle and back offices (Risk has different competing information about positions compared to Finance), etc. The impact is missed cross-sell / up-sell opportunities, business decisions made on bad/stale information, and regulatory actions, penalties, and fines. In order to mitigate these risks, a sizable amount of the IT budget (~20%, which can be about $450m per year in a Tier 1 Global Bank) is required to be allocated just to data and controls, which crowds out spending on revenue-producing initiatives. [01:31] Banks have created more data in the last three years than in the past 50 years combined! [02:18] ZettaLabs recently launched a new offering on the Microsoft Azure marketplace, called ZettaSense. Tell us about it and how it addresses some of the challenges we just discussed. [08:32] How would a company use your solution with Azure? [09:44] How can customers find out more about ZettaSense, and procure it through the Azure Marketplace? [10:35] How has partnering with Microsoft helped ZettaLabs scale and grow your business? [12:30] How can people find out more about Microsoft partnership opportunities for partners with Financial Services solutions? Eliud: For more information you can send an email to [e-mail]. [13:00] How do people connect with you? [14:42] Do you have any parting words of wisdom that you’d like to share with the audience? #AskTheCEO With Eliud Polanco