by Angela Guess

According to a recent press release, “Cloudera, Inc., the modern platform for machine learning and analytics, optimized for the cloud, announced a partnership with Simudyne, a leading simulation software company. The two will jointly bring the first computational simulation platform built for big data to the financial sector. Now banks and financial companies can design and run any detailed simulation model at massive scale. This will give CEOs and their senior business leaders the ability to make dramatically better decisions more quickly than ever, whether in the cloud, on premises, or in a hybrid environment.”

Tom Reilly, chief executive officer at Cloudera, commented, “With Cloudera Enterprise and our Shared Data Experience (SDX), we provide the identity management, security capabilities, policy enforcement and data governance that banks need for regulatory compliance. Financial firms can use our flexible machine learning platform to store more volumes of heterogeneous data than they could before and subject it to all sorts of different processing and analysis frameworks… Combined with Simudyne, this modern approach to gaining insights and understanding risk helps financial institutions make better predictions and business decisions as economic scenarios emerge.”

The release adds, “Financial firms are under pressure to grow their business while containing risk and complying with worldwide regulations. While existing analytics tools provide various measures of risk exposure, they are not able to fully consider complexities that exist in today’s world. While banks have spent considerable time and resources meeting stringent regulatory requirements, there are still many shortcomings in the current risk modeling methods.”

Read more at PR Newswire.

Photo credit: Cloudera