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Cloudera Empowers Banks in Asia Pacific to Combat Financial Crimes

Cloudera enables more than 30 largest banks in Asia Pacific in their Digital Transformation journey.

More than half of the 30 largest banks in Asia Pacific (excluding state-owned banks in China) have chosen Cloudera to enhance their data strategy to accelerate digital transformation, improve customer experiences, and meet regulatory and compliance requirements.  Cloudera also counts eight of the top 10 largest banks in Southeast Asia as customers.

With 75% of companies in the Asia Pacific region falling victim to financial crime over the past 12 months, the pressure is on for financial institutions to rely on data, analytics, ML and AI technologies to capitalize on the information needed to combat financial crime. Given the complexity and variety of financial and sensitive customer data, many financial institutions have also transitioned to Cloudera’s cloud-agnostic platform that is optimized for the scale and complexity of the data that the industry demands.

Financial crime is one of the greatest challenges for banks as it not only causes monetary losses but also adversely affects reputation and customer relationships. Criminal networks are becoming increasingly creative and ready to exploit any opportunity inside or around the edges of business operations. As the need to overcome the siloed and overwhelming data landscape increases, financial services institutions have to adopt innovative approaches to better leverage data and analytics and protect themselves from known and unknown threats, while keeping up with regulatory changes. We are proud to be chosen by top banks in the region to help them make insights-driven decisions to secure their organizations as they grow,”

Mark Micallef, Vice President APJ, Cloudera.

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