Allvue Systems selects Snowflake for new data solution
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Allvue Systems selects Snowflake for new data solution 19 August 2021US Reporter: Maddie Saghir
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Alternative investment technology solutions provider Allvue Systems has partnered with data cloud company Snowflake.
As part of this, Snowflake will provide a centralised data cloud to enhance and simplify clients’ data storage and processing capabilities across business lines and asset classes.
Allvue’s new data lake solution will enable clients to warehouse and manage all of their data on one integrated, user-friendly system.
The cloud-native platform will feature application programme interfaces for easy, global accessibility, explains Alluve Systems.
Additionally, the platform will have the ability to query clients’ entire data catalog at once to unlock insights that inform portfolio and investment decisions.
The platform’s event-driven integration and cohesive business intelligence solution will simplify data collection and enhance reporting processes across business lines and audiences, increasing operational efficiencies front-to-back.
Allvue’s new consolidated data platform will support clients across multiple cloud providers, so it can be easily implemented with existing systems. Mutual clients between Allvue and Snowflake will also be able to share datasets across platforms.
According to Brandon Meeks, chief technology officer of Allvue Systems, as financial firms have increased their cloud adoption for various services and products, many have struggled with achieving the data accessibility and integration they need to make informed investment decisions and are often left to reconstruct data downstream via their own warehouse builds.
Meeks says: “Using Snowflake to build our centralised data platform ensures we can meet and exceed our clients’ needs, fully optimising their data management on one centralised platform so they can focus on creating value and growing their businesses.”
Matt Glickman, vice president of customer product strategy, data marketplace and financial services at Snowflake, comments: “When it comes to financial services, we often see legacy systems that can complicate operations and limit access to data, especially from third-party providers.”
“Allvue will enable their clients to easily and comprehensively leverage data for maximum impact, as well as meet compliance and regulatory objectives,” adds Glickman.
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