Partnership combines Hazelcast’s real-time data-stream processing capabilities with AArete’s data expertise in the financial services industry
Hazelcast, Inc., a global leader of unified real-time data platforms, announced a partnership with global management and technology consulting firm AArete. It will enable financial services firms to optimize banking customer experiences, create internally managed and centralized market data systems, and future-proof operations from open banking to high-speed payment processing.
The partnership elevates Hazelcast and AArete as trusted solution providers for financial services firms – from global banks to fintech organizations – that need to act instantly on streaming data, personalize customer experiences and product offers across channels, and optimize operational efficiency. Hazelcast and AArete can assist financial services firms with real-time digital solutions that deliver customized[SE1] and timely experiences to increase customer loyalty.
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Hazelcast has seen double-digit growth over the past three years with rapidly increasing demand for real-time data solutions that deliver personalized customer experiences, operational efficiencies, risk reduction, and new revenue streams. Hazelcast is now widely deployed among the Global 2000, including 24 of the world’s largest banks.
“Hazelcast is unique in equipping companies to tap into data in motion, enrich it with relevant historical data and take instant action using a rules- or ML-driven approach,” said Karen Smith, chief revenue officer (CRO) at Hazelcast. “By partnering with AArete, we can bring real-time solutions to more companies looking for a competitive edge in the real-time economy.”
Celebrating its 15th anniversary in 2023, AArete is ranked 15th in The Consulting Report’s Top 50 Consulting Firms of 2023 and was named to the inaugural list of Forbes World’s Best Management Consulting Firms 2022. The firm develops and implements data-driven strategies to improve financial and operational performance while guaranteeing a return on investment, which is especially critical in challenging economic times. AArete works with global and regional banks, capital markets firms, payments organizations, insurance companies, investment and wealth management firms, and fintechs to power business strategies and modernize operations.
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“We interact daily with companies that need to shift from delayed actions to instant actions,” said John Carey, managing director of AArete Financial Services Technology Solutions and named among Consulting Magazine’s 2023 Global Leaders in Consulting. “To enable this shift, we are helping modernize companies’ data-processing capabilities to process streaming data quickly, without the huge cost of replacing the existing data architecture. The Hazelcast Platform plugs into existing systems to process and enrich fresh streaming data with relevant stored data to detect opportunities and threats and act instantly. We’re excited to partner with Hazelcast to help drive the real-time economy forward.”
Whether via a new application or a modernization initiative, the ability to act instantly on streaming data is an increasingly essential business requirement that the Hazelcast-AArete partnership directly addresses. The partnership’s solutions will bolster operational efficiencies for financial services firms to thrive in the real-time economy and serve the end user by adapting in the moment to deliver an experience that positively impacts customer satisfaction and brand loyalty.
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