In the penultimate article of our series of 5 Top RegTechs, we look at those in the category of Data Warehousing. This regards the access and management of data. The simple storage of the massive amounts of data that financial firms create, receive and have to collect is a challenge by itself, be it through onsite database centres or cloud computing. Many providers combine their with other RegTech categories, in particular with the reporting and monitoring of data as it is only logical to attempt to combine data management with analytics. Cloud computing and virtualization are the key drivers here as well as the need to analyse non-relational data types. Trends like big data and data lakes have changed the data warehouse market significantly and it becomes clearer no one size fits all. A large number of companies can be found in this field and we tried to focus on storing and making data accessible with a view to enable clients to comply with regulatory obligations. Following is our selection of 5 Top RegTechs for Data Warehousing:
Datactics
Offices: Based in Belfast, Northern Ireland
Founded: 2007
Description: According to a recent survey by Information Difference was among the data quality providers with the happiest customers. Not bad. What Datactics does, is to help firms to make sense of their big data warehouses by rapidly profiling to spot potential errors and identify patterns. The tools can then improve the quality of the data and link disparate datasets together in order to get an improved view across the enterprise.
http://www.datactics.com
Qumram
Offices: Headquartered in Zürich, Switzerland, with offices in Barcelona, London and San Francisco
Founded: 2011
Description: Qumram is a great RegTech success story: their solution applies an existing service, i.e. data management, to a new problem, i.e. digital communications across various channels, with cutting edge technology. Qumram’s Q-Suite addresses three core channels – web, mobile and social, which records every user session. Its open architecture ensures seamless integration into any third party digital platform.They see themselves as a business enabler for compliance delivering measurable return on investment, rather than being viewed simply as a necessary evil. Exactly what RegTech should do.
http://www.qumram.com/
Cloudera
Offices: Headquarters in Palo Alto, Sillicon Valley
Founded: 2008
Description: Cloudera employs more than 1400 staff and has operations in 27 countries. Based on their own statement, 4 out of the top 5 financial firms already use their service Cloudera Enterprise for regulatory compliance, fraud prevention / AML, and risk management. In a recent survey for the latest Gartner Operational Database Management Systems, 75% of respondents said they are planning to purchase more Cloudera product, which should be a good indicator for customer satisfaction
http://www.cloudera.com
AssetLogic
Offices: Based in London and San Francisco
Founded: 2015
Description: Fund data management is a challenging job with large amounts of data that, in the best case, should be accessible to internal stakeholders as well as regulators to ensure efficient use and reduce costs. That’s the challenge AssetLogic is tackling with its web-based service that allows any member of the fund industry to create an online central data and documents repository, which aggregates data and documents from any internal or external system into one online location. Interesting fact: While their offices are in London and San Francisco, all AssetLogic data, intellectual property and corporate governance are actually within the jurisdiction of Luxembourg since it provides the highest levels of data privacy, security and performance and is at the same time a world leading fund center.
http://www.asset-logic.com
Privitar
Offices: Based in London
Founded: 2014
Description: Privitar focuses on an essential aspect of data management from the start: Privacy protection. This is evidenced by the fact that their solution was actually developed considering this point from the start and at every stage of development rather than addressing the issue afterwards. Sensitive data can be masked or anonymised in compliance with regulatory requirements to regions or departments without a significant impact to data utility and ensure compliance with data protection legislation. Data can in this way accessed safely by internal users or third parties for further analysis. Their partnership with Cloudera shows that data management solutions do not be exclusive but can essentially complement each other depending on the service and a customer’s needs.
www.privitar.com
Data Warehousing services are offered by a large number of firms we appreciate that there are other great RegTechs out there that we have not listed here. Let us know your thoughts on our selection or tell us if your company should been up there at info@planetcompliance.com. Our final post of the series will be on top RegTechs in General Compliance looking at RegTechs that weren’t already classified in one of the other categories or deal with new trends and aspects that don’t fit into those.
The previous articles can be found here.