Cloudera, the provider of the leading global platform for machine learning and advanced analytics built on the latest open source technologies, announced today that Bank Danamon, one of Indonesia’s largest financial institutions, has adopted Cloudera Enterprise as the backbone of an enterprise data hub to accelerate information-driven transformation efforts. Cloudera’s big data software solutions implemented by Bank Danamon can help increase revenue, improve customer service, detect fraud and reduce compliance cost in today’s digital age.
Financial service institutions (FSIs) globally are under immense pressure to stay competitive by adding new, consumer-centric digital services to keep pace with the demands of a new generation of tech-savvy customers. Often struggling with risk, regulatory compliance and process-focused cultures, FSIs experience multiple data silos and outdated legacy IT infrastructures, that prevent them from harnessing the full value of their customer data. As data continues to remain as a key currency in today’s digitalized world, FSIs also face the challenge of keeping up with new security, privacy and data quality demands to deliver enhanced data protection for customers today.
“A key focus for our digital transformation at Danamon is to improve customer service while eliminating fraud risks and compliance cost. Big data technology has enabled us to better manage customer data, while enhancing data protection and managing compliance,” said Mary Bernadette James, Chief Information Officer for Bank Danamon. “Cloudera’s modern data management platform empowers us to achieve our digitalization goals at a lower capital expenditure per terabyte compared to traditional data management mechanisms, giving us the ability to serve our customers better and remain competitive in today’s uncertain economic climate.”
Bank Danamon and its subsidiaries serve a diverse customer base in Indonesia, offering a variety of banking products and services, including corporate and SME banking, consumer banking, trade finance, cash management, treasury and capital markets. These transactions create an unprecedented volume of data that requires efficient storage, processing, and analytics in order to harness the value of existing investments and enable fundamental new ways to derive value from data.
“With the availability of large volumes of data and the behavioural shift to online banking, the efficiency with which FSIs are able to scale big data across multiple use cases is key to driving customer success,”’ said Fanly Tanto, Sales Director for Indonesia, Cloudera. “Risk management and regulatory compliance are also a vital part of adapting to a tech-generation of customers. As such, FSIs like Bank Danamon are increasingly turning to disruptive technologies to tackle these growing complex challenges by unlocking the power of big data and eventually creating a more robust financial ecosystem. With Cloudera’s solutions, consumers will continue to benefit from more innovative products and better service in a transformed world.”
