SmartStream
and most widely used cloud data warehouse. Redshift integrates with a client’s data lake and makes it simple to both query data and write data back to the lake in open formats. “We are extending our use of Amazon Web Services and Oracle and delivering that capability through our managed services portfolio,” says Smith. “That delivers not only the regulatory reporting capability that clients need, but also gives them much more flexibility in terms of how they can mine their data.” The advantage of incorporating data lakes into the managed services portfolio is that SmartStream clients can easily ramp up the use of the company’s comprehensive suite of cloud-based solutions to handle any kind of query or reporting requirement. “Reports can be tailored to any criteria, and some will require a lot of compute power, but we can control that at our end to ensure that we reduce the possibility of compromising the available compute power for other end users,” Smith adds.
Swift, secure and fully flexible Smith understands well the challenges of reporting, data management and workflow optimisation – not only from his four years at SmartStream, but also from his time working in the financial services sector. His first-hand knowledge comes from a career
spanning 25 years, many of which were spent at leading investment banks. Over that time, he’s built up an impressive knowledge of process management, solution development, risk management and control, and the development of centres of excellence. He has applied this knowledge to understanding banks’ pain points and ensuring that SmartStream’s managed services meet those challenges head-on. “Years ago, when I was working in banks, I saw them pour a lot of money into creating data lakes,” he observes. “It would cost them millions of dollars. Now, that capability can be easily accessed through our managed services offering.” Just recently, Smith was approached by an existing client who had installed SmartStream solutions at their premises. The bank was experiencing a crucial technology issue – its systems were running slow and this was slowing down its ability to generate new reports. It had all the data but generating useful insight from that data was holding it back from making informed business decisions. “We identified that the client was not managing its production database of transactions,” says Smith. “Users were just trying to do their job, but they are not aware of the impact on the bank’s systems of running queries on the database. With managed
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