North Carolina-based Truist Financial Corporation has acquired “key strategic assets” from Zaloni, a data technology solutions provider.
Under the agreement, Truist will acquire the Zaloni Arena platform, which the company hopes will accelerate its data governance, metadata management, advanced analytics, and artificial intelligence and machine learning (AI) programs. /ML).
The Arena platform offers data for advanced analytics and AI/ML use cases using an “intelligent and collaborative” data catalog, automated governance, and “observability platform” that she says reduce IT costs and speed up the time to get insights.
Zaloni Founder and Chief Product Officer Ben Sharma, CTO Ashwin Nayak and a team of product, engineering and data professionals will join Truist’s Enterprise Data office in Charlotte, North Carolina, led by Chief Data Officer Tracy Daniels. Zaloni says its offshore team will continue to serve its current customers while providing technology delivery services to Truist.
Scott Case, chief information officer at Truist, said the company identified the Arena platform as “an investment that will help us deliver better financial experiences” and “advance our strategy.”
Truist is a top 10 US commercial bank with $545 billion in assets under management.