Synechron partners with Solidatus to deliver data visualisation for financial services

02 February 2018 Authored by Consultancy.uk

Consulting firm Synechron have confirmed a partnership with software solutions innovator Solidatus, to deliver data visualisation offerings to clients in the financial services sector. As numerous data regulations approach in 2018, visualisation is increasingly seen as the key to understanding areas where organisations can improve to maintain compliance.

The data economy of organisations is growing year on year, increasing the demand on businesses to understand and control change in order to minimise risk and manage costs. While the potential of Big Data has seen firms keen to bolster their strengths in data mining, it has also been accompanied with a major growth in regulations regarding data; something which consulting firms are currently experiencing a glut of demand as a result of, as clients attempt to remain compliant.

To this end, global financial services consulting and technology services provider, Synechron, has announced a partnership with Solidatus, a leading data lineage discovery and visualisation solution. The new alliance will see the firms work to address challenges related to understanding data lineage, governance, and management, by delivering innovative visualisation models for metadata across end-to-end business processes. The initiative is critical in helping firms get the most from their data, as well as to comply with upcoming regulatory obligations, such as the rapidly approaching GDPR.Synechron partners with Solidatus to deliver data visualisation for financial services

Synechron provides innovative solutions to the financial services industry through its three main business focus areas; digital, business consulting, and technology, which recently saw the firm open two financial innovation labs in Charlotte and New York – where the group is also based. The financial services industry, where Synechron specialises, is one of the most data-rich industries globally. Financial institutions and businesses struggle to keep up with the growing amount of data they are seeing and how to track, model, and gain meaningful insight from it, meaning the partnership between Synechron and Solidatus can help the firm bring clarity to data owners and analysts regarding their data via data visualisation solutions, supported by industry leading digital, consulting and technology expertise.

Solidatus was developed to help organisations understand how data flows through their systems by providing an intuitive, flexible, data lineage discovery and visualisation solution. The solution leverages these tools to complement existing ETL & Governance solutions already in use, by collecting all lineage information into one place. The potential of this system caters to several unique use cases within financial services, in areas including; Regulation, Systems Integration, Transformation and Rationalisation and Data Governance.

Commenting on the partnership, Daniel Percy-Hughes, a Consultant at Synechron, said, "Data visualisation tools are becoming increasingly important as firms generate more and more data. Regulations like MiFID, GDPR, FRTB and others demand deeper insight into this data placing greater focus on the need for enhanced data lineage. We are happy to partner with Solidatus to provide a solution to address these concerns and build on its proven successes already working with some of the biggest global financial services companies."

Howard Travers, Chief Commercial Officer for Solidatus, added, "Synechron’s deep expertise across Business Consulting, Digital and Technology affords the opportunity for us to build on our existing data models and success in the financial services sector. This, paired with its commitment to innovation matching ours, has made for an obvious choice for strategic partnership."

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