Sumo Logic , the pioneer in continuous intelligence, today announced it is expanding its work with leading businesses in the fintech and banking sectors including Coincheck, Currencycloud, Moneytree, MoonPay, Paidy, Snoop and more. These companies use Sumo Logic’s Continuous Intelligence Platform™ to transform data from complex systems into real-time insights with a single pane of visibility across security and operations to help fintechs diagnose and troubleshoot issues faster and reduce service interruptions.
Read More: XP Inc. Acquires Riza M&A
The fintech space is one of the fastest-growing areas of emerging technology, with investments of $44 billion globally in 2020 according to Innovate Finance. In order to successfully compete in this highly competitive and regulated market, fintechs need to know what happens in their business as it happens so they can respond with speed and relevance. Getting real-time access to data around application performance is essential for developing business operations while keeping those services both secure and compliant. With more companies developing their applications on cloud-native infrastructure, fintechs are turning to continuous intelligence, a new category of software with real-time insights delivered from a single, cloud-native platform across multiple use cases to speed decision-making, and drive world-class customer experiences.
“New cloud and application architectures, increasing regulation and security concerns coupled with the acceleration of digital transformation is challenging all industries including fintech to modernize their business in order to stay competitive,” said Dione Hedgpeth, Chief Customer Officer, at Sumo Logic. “The ability to harness real-time analytics and continuous intelligence across operations and security can support fintechs business objectives as they compete against more traditional banks. In turn, teams can move quickly and adopt new technologies faster which means organizations can spend more of their time building services for their customers and less time managing their infrastructure.”
Read More: GlobalFintechSeries Interview with Rohit Arora, CEO at Biz2Credit
Sumo Logic works with a number of the world’s leading fintech organizations to accelerate innovation and reduce the time to detect, identify, and resolve operational and security issues including:
“Our service is based on taking customer banking transaction data via Open Banking, understanding their behavior and helping them with money saving recommendations that are personalized to them, a bit like Instagram for their money. Customers trust us with their banking data, and therefore we have to be as secure as a bank. Sumo Logic takes the same approach that we deliver to our customers around security, developer and operations data, offering our DevOps team real-time insights and actionable intelligence. Because Sumo Logic’s platform spans security and observability, it significantly helps our team be more efficient as we look to scale up.”
Jem Walters, Chief Technology Officer, Snoop
“We wanted a partner that delivered on the promise of a great customer experience. Sumo Logic provides Currencycloud centralized security analytics with real-time alerts and actionable intelligence. It is helping us scale for enterprise services and banking-grade security.”
Derik Vercueil, Global Vice President of Architecture & Security, Currencycloud
“As one of Japan’s premiere cryptocurrency exchanges, it’s critical that we are able to detect early warning signs of illegal access of our systems so we can quickly respond to potential threats, while adhering to strict data compliance regulations. Sumo Logic helped us rebuild our monitoring framework and enabled us to have a single source of truth of our data that could be leveraged across IT, security and development teams.”
Yoshihiro Kyan, Cybersecurity Manager, Coincheck, Inc.
“Helping financial institutions connect with their customers is at the core of what Moneytree does by offering a secure sharing platform for financial data. We rely on Sumo Logic to provide the continuous intelligence needed across both operations and security, so customers can confidently move data between disparate systems quickly and securely.”
Ross Sharrott, CTO and Founder, Moneytree
Modernizing Fintechs with Continuous Intelligence
Sumo Logic’s Continuous Intelligence Platform™ addresses the challenges fintechs face by unifying all machine data—logs, events, and performance metrics—across on-premises, cloud-hosted and hybrid environments. By providing a single pane of visibility across the entire heterogeneous architecture in real-time, and across multiple use cases, Sumo Logic helps IT operations, DevOps, SRE, security, and engineering teams with real-time, secure, unified alerts and dashboards to enable faster issue identification and troubleshooting.
Read More: Hacking Insurance to be 10x Faster
