Key Takeaways:
- The partnership between Hazelcast, Inc. and AArete aims to enhance banking customer experiences, establish internally managed market data systems, and prepare for future operational requirements from open banking to rapid payment processing.
- This collaboration solidifies the position of Hazelcast and AArete as trusted solution providers to financial firms needing instant action on streaming data, personalized offers across channels, and optimized operational efficiency.
- Hazelcast’s double-digit growth over the past three years is a testament to the increasing demand for real-time data solutions, which are now being used by 24 of the world’s largest banks.
Driving Change: Power of Partnership
Hazelcast, Inc., a global leader in unified real-time data platforms, has joined forces with global management and technology consulting firm AArete. The partnership is set to revolutionize the financial services industry by enabling firms to optimize customer experiences, create centralized market data systems, and future-proof operations from open banking to high-speed payment processing.
The partnership positions Hazelcast and AArete as trusted solution providers for financial services firms – from global banks to fintech organizations. Their goal is to help these companies harness streaming data in real-time, personalize customer experiences and product offerings across various channels, and streamline operational efficiency.
Building the Future: The Power of Real-Time
Real-time digital solutions are transforming the world of finance, delivering personalized and timely experiences that enhance customer loyalty. Hazelcast has seen exponential growth over the past three years, with a burgeoning demand for real-time data solutions that boost operational efficiency, reduce risk, and generate new revenue streams. This growth is reflected in Hazelcast’s expansive reach, with the platform now being utilized by 24 of the world’s largest banks.
Hazelcast’s unique offering allows companies to leverage data in motion, enrich it with pertinent historical data, and take immediate action using a rules-based or machine learning-driven approach. The partnership with AArete is set to bring this real-time solution to more companies seeking a competitive advantage in the real-time economy.
A Force in the Market: Celebrating Achievements
AArete, which celebrates its 15th anniversary in 2023, is highly recognized in the consulting sector. Ranked 15th in The Consulting Report’s Top 50 Consulting Firms of 2023, it also featured on the inaugural list of Forbes World’s Best Management Consulting Firms 2022. The firm excels in developing and implementing data-driven strategies that enhance financial and operational performance while assuring return on investment, a critical attribute during challenging economic times.
John Carey, Managing Director of AArete Financial Services Technology Solutions, highlighted the need for companies to transition from delayed to instant actions. He believes that by modernizing data-processing capabilities to process streaming data swiftly, companies can detect opportunities and threats and act immediately.
The Next Step: Transforming Financial Services
The ability to act instantly on streaming data is an increasingly critical business requirement, and it is precisely what the Hazelcast-AArete partnership aims to address. The solutions from this partnership promise to enhance operational efficiencies for financial services firms, enabling them to thrive in the real-time economy. This, in turn, will benefit the end-user by adapting in the moment to provide an experience that positively impacts customer satisfaction and brand loyalty.
About Hazelcast and AArete:
Hazelcast is trusted by leading companies globally to act instantly on data in motion and deliver powerful solutions that generate new revenue streams, mitigate risks, and operate more efficiently. The unified real-time data platform processes data in motion, enriches it with historical context, and facilitates instant action through standard or ML/AI-driven automation.
AArete, on the other hand, is a global management and technology consulting firm that drives profitability improvement, digital transformation, strategy, and change for its clients. It operates across all industries and business functions to optimize profits in a compressed timeframe, humanizing data by translating numbers into actionable insights and fostering change with confidence, empathy, and purpose.
The partnership between Hazelcast and AArete is a momentous step towards transforming the financial services sector, ushering in an era of real-time, data-driven solutions designed to deliver personalized customer experiences and operational efficiency. This collaboration is a testament to the powerful potential of real-time data and its transformative effect on the industry.
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