SEI announced the launch of SEI Data Cloud through a strategic partnership with Snowflake, the Data Cloud company, to address the financial services industry’s demand for more advanced data integration. SEI Data Cloud, Powered by Snowflake, is designed to offer a scalable, cloud-based data platform that clients globally can access directly through the SEI Wealth PlatformSM (SWP) or as a standalone service.
SEI Data Cloud seeks to meet the industry demand for more advanced data integration, as financial and technology organizations increasingly need database-like access to power analytics, application development, consumption of large amounts of data, and advanced reporting.
SEI Data Cloud users have access to modern delivery capabilities, including:
On-demand access to real-time data
Business event-based alerts and notifications
Ease of information consumption
Analytics-as-a-Service (AaaS)
SEI plans to initially leverage Snowflake as a data delivery and analytics platform for SWP clients, providing users access to information in real time and enabling an enterprise view of information. SEI already has two early adopters of SEI Data Cloud and is engaging with multiple clients to roll out the solution.
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Ultimately, the company intends to offer enterprise information delivery, reporting, and analytics capabilities to all clients across the financial services spectrum. This represents SEI’s commitment to enhancing its offerings and delivering new solutions that enable clients to power their businesses and drive revenue growth for the company.
Sanjay Sharma, Head of Private Banking at SEI, said:
“The dynamic demand for flexible and real-time access to information with ease of consumption is rapidly growing across the financial services landscape. By leveraging Snowflake’s data-sharing capabilities, we believe we can provide our clients access to customized data and analytics reporting at any time and in a manner that complements our modern API approach. We’re thrilled to partner with Snowflake in delivering this transformative technology to our markets.”
Rinesh Patel, Global Head of Financial Services at Snowflake, said:
“SEI’s role in the wealth and asset management ecosystem combined with Snowflake’s scalable data delivery and analytics capabilities, enables financial services participants to seamlessly consume, analyze, and utilize data. We look forward to working with SEI to redefine our customers’ data experience and meet the evolving needs of the financial services community.”