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July 8, 2009

Netezza, Patni Partner To Deliver Data Solutions To Financial Services Industry

The companies target financial institutions looking to improve data analysis and management within their operations

By CBR Staff Writer

Netezza Corporation, a provider of data warehouse and analytic appliances, and Patni Computer Systems, a global IT and business process outsourcing (BPO) services provider, have partnered to develop solutions for the financial services industry. The solution would be built upon Netezza’s data warehouse platform and designed with Patni’s industry expertise.

Both the companies will offer a series of solutions designed to address the data challenges facing large financial institutions, while providing the scalability necessary to meet future requirements.

Sumedh Methta, Senior Vice President and Head of Patni’s Financial Services Business Unit, said: “Increased regulatory pressures coupled with a continually changing business landscape causes financial services organizations to face growing amounts of data. Patni and Netezza will deliver new solutions that will address the data management concerns for customers and enable them to focus on cost efficiencies, customer service and increasing revenue.”

Steve Williams, Vice President, Sales, Financial Services at Netezza, said: “Data management continues to be a critical challenge for financial services organizations worldwide. The industry will benefit from Netezza’s partnership with Patni, which offers higher-performance, lower-cost solutions that can be implemented quickly and cost effectively.”

Marlborough, Massachusetts-based Netezza is a provider of data warehouse and analytic appliances.

Patni services its clients through its industry-focused practices, including banking, financial services and insurance; manufacturing, retail and distribution; life sciences; communications, media and utilities, and technology.

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