American financial services leader Truist has enhanced its data management capabilities through the acquisition of Zaloni’s Arena platform, with financial details undisclosed.
The Arena data governance platform is designed to provide reliable data for advanced analytics and artificial intelligence applications. It features an intelligent and collaborative data catalog, automated governance processes, and unified observability, all aimed at lowering IT costs and speeding up insights.
Truist believes that integrating this platform will significantly advance its data governance, metadata management, and initiatives in advanced analytics, as well as artificial intelligence and machine learning.
As part of this acquisition, Zaloni’s founder and Chief Product Officer Ben Sharma, along with CTO Ashwin Nayak and their dedicated team, will be joining Truist’s enterprise data office. Tracy Daniels, Truist’s Chief Data Officer, expressed enthusiasm about the collaboration, stating, “I’m excited that this agreement brings on board the talented team that developed the Arena platform, allowing them to continue their innovative work at Truist.”
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