{"id":538006,"date":"2021-09-14T09:04:22","date_gmt":"2021-09-14T13:04:22","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/snowflake-launches-the-financial-services-data-cloud-to-accelerate-customer-centric-and-data-driven-innovation-in-the-financial-services-industry\/"},"modified":"2021-09-14T09:04:22","modified_gmt":"2021-09-14T13:04:22","slug":"snowflake-launches-the-financial-services-data-cloud-to-accelerate-customer-centric-and-data-driven-innovation-in-the-financial-services-industry","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/snowflake-launches-the-financial-services-data-cloud-to-accelerate-customer-centric-and-data-driven-innovation-in-the-financial-services-industry\/","title":{"rendered":"Snowflake Launches the Financial Services Data Cloud to Accelerate Customer-Centric and Data-Driven Innovation in the Financial Services Industry"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Snowflake Launches the Financial Services Data Cloud to Accelerate Customer-Centric and Data-Driven Innovation in the Financial Services Industry<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><i>Financial Services Data Cloud enables businesses to build disruptive, customer-centric products and create new revenue streams while enabling compliance with the highest standards of security and governance <\/i><\/li>\n<li><i>Snowflake\u2019s product revenue from customers in the financial services industry grew more than 100% YoY*<\/i><\/li>\n<li><i>Approximately 57% of Financial Services firms in the Fortune 500 are using Snowflake** <\/i><\/li>\n<\/ul>\n<p>No-Headquarters\/BOZEMAN, Mont.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.snowflake.com&amp;esheet=52491102&amp;newsitemid=20210914005271&amp;lan=en-US&amp;anchor=Snowflake&amp;index=1&amp;md5=5b26fe3d9118663b49f2e95c63ed922b\">Snowflake<\/a> (NYSE: SNOW), the Data Cloud company, today announced the Financial Services Data Cloud, which unites Snowflake\u2019s industry-tailored platform governance capabilities, Snowflake- and partner-delivered solutions, and industry-critical datasets, to help Financial Services organizations revolutionize how they use data to <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.snowflake.com%2Fsnowflake-for-financial-services%2F&amp;esheet=52491102&amp;newsitemid=20210914005271&amp;lan=en-US&amp;anchor=drive+business+growth&amp;index=2&amp;md5=38a13b7643db89eeb53f563d8a6176b3\">drive business growth<\/a> and deliver better customer experiences.\n<\/p>\n<p>\nAs customer expectations, regulatory requirements, and data volumes rise, Snowflake\u2019s Data Cloud helps organizations accelerate their top-line growth and innovation while mitigating risk. Banking, insurance, fintech, and investment management customers, and others in the financial services industry, can utilize Snowflake\u2019s Financial Services Data Cloud to launch new customer-centric products and services, build fintech platforms of the future, and accelerate their compliance and regulatory compliance. Industry-leading customers like Allianz, AXA, BlackRock, Capital One, NYSE, Refinitiv, Square, State Street, Western Union, and Wise, are already part of the Financial Services Data Cloud.\n<\/p>\n<p>\n\u201cAs a trusted global brand with millions of customers around the world, our priority has always been to focus on what our customers need today and tomorrow, and keep innovating to exceed these needs,\u201d said Western Union Chief Data Officer, Tom Mazzaferro. \u201cThe Financial Services Data Cloud\u2019s industry-tailored capabilities along with the Snowflake platform\u2019s best-in-class data security and governance are key to Western Union\u2019s technology modernization program and to our vision of building our new ecosystem connecting millions of people living across the globe.\u201d\n<\/p>\n<p>\nSnowflake\u2019s platform governance capabilities have been crafted to support the stringent requirements of today\u2019s financial services organizations.\n<\/p>\n<p><b>Snowflake Financial Services Data Cloud enables customers to<\/b>:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nSecurely collaborate on data across the enterprise, while efficiently meeting regulatory requirements, using Snowflake\u2019s powerful security and governance capabilities, including: private connectivity for multiple public clouds, enhanced encryption with bring your own key (BYOK), built-in classification and anonymization of sensitive data, and integration with 3rd party tokenization providers, all offered in compliance with SOX standards.\n<\/li>\n<li>\nSecurely share data across multiple public clouds with support for sharing from multi-tenant environments to Virtual Private Snowflake (VPS) environments coming in a future release.\n<\/li>\n<li>\nLeverage Snowflake as the first company achieving the new <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.snowflake.com%2Fnews%2Fsnowflake-achieves-first-cloud-data-management-capabilities-cdmc-assessment%2F&amp;esheet=52491102&amp;newsitemid=20210914005271&amp;lan=en-US&amp;anchor=Cloud+Data+Management+Capabilities+%28CDMC%29+financial+industry+standard%2C&amp;index=3&amp;md5=6e9a953c4c3b29d0bbef353515d4253a\">Cloud Data Management Capabilities (CDMC) financial industry standard,<\/a> which is sponsored by the EDM Council and verified by KPMG.\n<\/li>\n<\/ul>\n<p><b>Within the Financial Services Data Cloud, Snowflake also announced partner-delivered solutions<\/b>. These end-to-end solutions take advantage of Snowflake\u2019s unique global and cross-cloud data sharing capabilities to connect customers across the financial services ecosystem. Solutions include:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe Alation Data Catalog and new Data Governance App to help drive data governance and help increase the transparency of data controls in the Financial Services Data Cloud.\n<\/li>\n<li>\nAmazon FinSpace, a data management and analytics service purpose-built for the financial services industry, will provide analysts access to data they have in Snowflake.\n<\/li>\n<li>\nBlackRock launched the Aladdin Data Cloud, a solution for investment managers to expand the utility of data, powered by Snowflake\u2019s platform.\n<\/li>\n<li>\nCognizant\u2019s Quick Start Third Party Insurance Data Exchange Solution enables insurers to integrate policy and claims data with both 3rd party datasets, and those available on Snowflake\u2019s marketplace, to improve risk evaluation and expedite underwriting.\n<\/li>\n<li>\nDataiku\u2019s seamless integration with Snowflake for AI\/ML-focused customers, enabling the use of training models directly within Snowflake.\n<\/li>\n<li>\nDeloitte\u2019s HUX for Financial Services offers retail banks a customer 360 acquisition solution, enabled by Snowflake.\n<\/li>\n<li>\nEY Comply, the EY managed service for asset management regulatory reporting built on Snowflake.\n<\/li>\n<li>\nEY ESG Arena, the EY Environmental and Social Governance data normalization platform built on Snowflake.\n<\/li>\n<li>\nThe State Street Alpha<sup>SM<\/sup> Data Platform, powered by Snowflake, speeds time to insight for institutional investment and wealth managers with secure and governed data access.\n<\/li>\n<\/ul>\n<p>\nIn addition, Snowflake announced Solution Accelerators: resources designed to accelerate customers\u2019 time to value, including open data models, solution reference architectures, and related professional services offerings.\n<\/p>\n<p><b>The Financial Services Data Cloud also includes datasets from industry partners and data providers that can be natively accessed through Snowflake to:<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nSupport collaboration between customers, allowing industry players to securely collaborate on live data with partners, and leave behind outdated processes of duplicating data and passing files back-and-forth.\n<\/li>\n<li>\nAccess and leverage a growing number of datasets from leading traditional and alternative data providers for the financial industry led by Acxiom, S&amp;P Global and FactSet via Snowflake Data Marketplace.\n<\/li>\n<\/ul>\n<p>\n\u201cThe Financial Services Data Cloud will enable leaders in the space to create new revenue streams through future-forward products, collaborate within and across the new data economy for competitive advantage, while continuously maintaining security and governance standards,\u201d said Snowflake VP and Global Head of Financial Services, Matt Glickman. \u201cWith more than half of Fortune 500 financial services organizations using Snowflake**, it&#8217;s clear that customers are leaning in with the Data Cloud, and the Financial Services Data Cloud\u2019s capabilities and content ecosystem can help customers drive the future of Finserv even further.\u201d\n<\/p>\n<p><b>Learn More: <\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nSign up for the Snowflake <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.snowflake.com%2Ffinancial-services-data-summit%2F%26utm_content%3Dgo-rsa-finserv-summit%26utm_term%3Dc-g-finserv-p%26utm_campaign%3Dna-en-finance%26_bt%3D537109264301%26_bk%3Dfinserv%26_bm%3Dp%26_bn%3Dg%26_bg%3D126226387595%3Fgclid%3DCjwKCAjwmK6IBhBqEiwAocMc8k2sjR0wHPAnbZ7enDmZsuWePUTyw5tX3pecRdf-y6U4upKiKyBO3hoCCFAQAvD_BwE%26gclsrc%3Daw.ds&amp;esheet=52491102&amp;newsitemid=20210914005271&amp;lan=en-US&amp;anchor=Financial+Services+Data+Summit&amp;index=4&amp;md5=82c35f87980ef9f347ff6acc2bead726\">Financial Services Data Summit<\/a> to get access to keynotes, breakout sessions, industry content and more from leading experts in financial services\n<\/li>\n<li>\nRead about the <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fresources.snowflake.com%2Fsolution-briefs%2Fthe-cloud-data-platform-for-financial-services%3F_ga%3D2.258184329.241167016.1628033230-1832137040.1622561714%26_gac%3D1.60435807.1628193108.CjwKCAjwmK6IBhBqEiwAocMc8k2sjR0wHPAnbZ7enDmZsuWePUTyw5tX3pecRdf-y6U4upKiKyBO3hoCCFAQAvD_BwE&amp;esheet=52491102&amp;newsitemid=20210914005271&amp;lan=en-US&amp;anchor=Data+Cloud+for+Financial+Services&amp;index=5&amp;md5=937af5c57e7b6f5d4c97bf6ba0c72fa0\">Data Cloud for Financial Services<\/a>.\n<\/li>\n<li>\nStay on top of the latest news and announcements from Snowflake on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2F3653845%2F&amp;esheet=52491102&amp;newsitemid=20210914005271&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=6&amp;md5=a38648e5a1185623f0b67cb586a30aec\">LinkedIn<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2FSnowflakeDB&amp;esheet=52491102&amp;newsitemid=20210914005271&amp;lan=en-US&amp;anchor=Twitter&amp;index=7&amp;md5=474464692ef526a21ae7669da07ca5d1\">Twitter<\/a>.\n<\/li>\n<\/ul>\n<p>\n* Based on product revenue for the three months ended July 31, 2021.<br \/>\n<br \/>**As of July 31, 2021. Based on the 2021 Fortune 500 list. Our Fortune 500 customer count is subject to adjustments for annual updates to the Fortune 500 list by Fortune, as well as acquisitions, consolidations, spin-offs, and other market activity with respect to such customers.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis press release contains express and implied forwarding-looking statements, including statements regarding Snowflake products, services, and technology offerings that are under development. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under the heading \u201cRisk Factors\u201d and elsewhere in the Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2021 that Snowflake has filed with the Securities and Exchange Commission. In light of these risks, uncertainties, and assumptions, actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. As a result, you should not rely on any forwarding-looking statements as predictions of future events.\n<\/p>\n<p><b>About Snowflake <\/b><\/p>\n<p>\nSnowflake enables every organization to mobilize their data with Snowflake\u2019s Data Cloud. Customers use the Data Cloud to unite siloed data, discover and securely share data, and execute diverse analytic workloads. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. Thousands of customers across many industries, including 212 of the 2021 Fortune 500 as of July 31, 2021, use Snowflake Data Cloud to power their businesses. Learn more at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.snowflake.com%2F&amp;esheet=52491102&amp;newsitemid=20210914005271&amp;lan=en-US&amp;anchor=snowflake.com&amp;index=8&amp;md5=2b703998b303c97e67ab9c60fd399f38\">snowflake.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210914005271r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210914005271\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210914005271\/en\/<\/a><\/span><\/p>\n<p>\nDanica Stanczak<br \/>\n<br \/>Sr. PR Manager, Snowflake<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:press@snowflake.com\">press@snowflake.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Montana United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Professional Services Data Management Security Technology Software Finance Networks<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210914005271\/en\/798477\/3\/HI_RES-_Snowflake_Logo_Blue_1800x550.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Snowflake Launches the Financial Services Data Cloud to Accelerate Customer-Centric and Data-Driven Innovation in the Financial Services Industry Financial Services Data Cloud enables businesses to build disruptive, customer-centric products and create new revenue streams while enabling compliance with the highest standards of security and governance Snowflake\u2019s product revenue from customers in the financial services industry grew more than 100% YoY* Approximately 57% of Financial Services firms in the Fortune 500 are using Snowflake** No-Headquarters\/BOZEMAN, Mont.&#8211;(BUSINESS WIRE)&#8211;Snowflake (NYSE: SNOW), the Data Cloud company, today announced the Financial Services Data Cloud, which unites Snowflake\u2019s industry-tailored platform governance capabilities, Snowflake- and partner-delivered solutions, and industry-critical datasets, to help Financial Services organizations revolutionize how they use data to drive business growth and deliver better &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/snowflake-launches-the-financial-services-data-cloud-to-accelerate-customer-centric-and-data-driven-innovation-in-the-financial-services-industry\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Snowflake Launches the Financial Services Data Cloud to Accelerate Customer-Centric and Data-Driven Innovation in the Financial Services Industry&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-538006","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Snowflake Launches the Financial Services Data Cloud to Accelerate Customer-Centric and Data-Driven Innovation in the Financial Services Industry - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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grew more than 100% YoY* Approximately 57% of Financial Services firms in the Fortune 500 are using Snowflake** No-Headquarters\/BOZEMAN, Mont.&#8211;(BUSINESS WIRE)&#8211;Snowflake (NYSE: SNOW), the Data Cloud company, today announced the Financial Services Data Cloud, which unites Snowflake\u2019s industry-tailored platform governance capabilities, Snowflake- and partner-delivered solutions, and industry-critical datasets, to help Financial Services organizations revolutionize how they use data to drive business growth and deliver better &hellip; Continue reading &quot;Snowflake Launches the Financial Services Data Cloud to Accelerate Customer-Centric and Data-Driven Innovation in the Financial Services Industry&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/snowflake-launches-the-financial-services-data-cloud-to-accelerate-customer-centric-and-data-driven-innovation-in-the-financial-services-industry\/\" \/>\n<meta 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