Hakkoda Launches Financial Services Analytics Offering to Help Banks and Lenders Unlock Customer Insights with Snowflake

BOULDER, Colo., March 9, 2022 /PRNewswire/ -- Hakkoda, the cloud data experts, today announced it has launched a new multi-party analytics offering on Snowflake designed for financial services companies. The new solution will enable banks and lenders to unlock new customer insights with deeper analytics from their Snowflake Data Cloud. To lead the new division, Hakkoda has hired financial services industry executive Anand Pandya, formerly chief data officer at Curinos, a subsidiary of Informa Financial Intelligence.

Data sprawl is a significant challenge for banks: Hakkoda's latest research study shows that 44% of financial services companies use five or more different data solutions. Financial institutions are heavily divided by business lines and rarely lean into their own IT groups. This fosters a sense of decentralized data stores as well as a lack of cohesion and alignment.

"The banking industry is being disrupted by new fintech upstarts and the key for traditional banks to compete with newer options is to unlock the value of the data sprawled across the institution," said Erik Duffield, CEO and co-founder of Hakkoda. "With technology becoming a change agent for the financial services industry, many institutions are having difficulty finding resources and talent for their data programs. Hakkoda has expertise to solve both their data and talent problems. Under the leadership of Anand, Hakkoda can help financial institutions realize the true value of their data, delivering innovative outcomes that turn data and analytics into a competitive advantage."

With more than 20 years of experience as a leader in data-driven solutions and business intelligence, Pandya will lead the financial services sector for Hakkoda. In this role, he will be responsible for the team that designs, builds and manages modern data platforms for banks and lenders. He will also serve as a strategic advisor to accounts and guide solution development. Hakkoda's seasoned financial services consultants take a collaborative approach with clients and know that how clients use their data often determines the agility and innovation of the business.

Prior to his role at Curinos, Pandya was head of operations and technology for Informa Financial Intelligence. Before that, he was vice president of analytics solutions at Icon Advisory Group, a financial services technology company that was acquired by Informa Financial Intelligence. Pandya has an additional 10 years of data and business intelligence consulting experience across multiple industries and Fortune 1000 companies.

"The modernization of data technology has accelerated faster than ever before, thrusting the financial services industry into a new paradigm that requires the industry to utilize data in ways they never imagined," said Pandya. "Hakkoda understands the power of data; the company was founded to help customers realize the true value of their data. This aligns with my core belief that data is the most valuable resource at an organization. I am excited to join the Hakkoda team to drive real innovation and revenue back into our client institutions."

To enable the new offering, Hakkoda is partnering with Affinio, provider of multi-party applications for Snowflake. Affinio's graph analytics technology is embedded within Snowflake's Data Cloud to empower enterprises with rich customer insights and powerful privacy-safe data collaboration, without needing to move data.

"When it comes to rich consumer insights, it's clear that only analyzing first party data just isn't enough," said Tim Burke, President of Affinio. "The financial services industry needs a new distributed model of privacy-safe data insights and collaboration. With our partnership with Hakkoda, we're excited to unlock the next generation of customer intelligence and audience creation leveraging Affinio's native Snowflake applications alongside Hakkoda's Snowflake and vertical expertise."

"There are challenges in the financial services industry that require a new, collaborative approach of privacy-safe, governed data sharing," said Matt Glickman, Financial Services Principal at Snowflake. "We are excited to partner with Hakkoda to empower our customers to solve this new class of problems in the Data Cloud leveraging Hakkoda's 'all-in on Snowflake' vertical expertise."

Hakkoda's services were designed from the ground up to deliver faster results to customers. Its subscription-based scalable teams model offers customers on-demand access to experts specializing in data migration, architecture, analytics, engineering, machine learning, governance and application development, to be applied in areas where skills are most needed.

Additional resources:

• Download the research report on the hidden costs of data sprawl
• Follow Hakkoda on Linkedin or Twitter

About Hakkoda
Hakkoda is a U.S. and Costa Rica-based data engineering consultancy specializing in Snowflake. The company embraces a subscription model that works the way the cloud works — providing on-demand access to data engineers, architects, machine learning and application development experts. Led by a founding team with more than 150 years of collective experience in data and IT services, Hakkoda can see problems and solutions in ways others cannot. Hakkoda is backed by investment firm Tercera and empowers customers like US Foods, and Scripps Health to innovate with the power of data. To learn more, visit https://hakkoda.io/.

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SOURCE Hakkoda, Inc.