Synechron, Xcalar to Build Virtual Data Warehouses

According to the vendors, financial institutions stand to benefit from scalable data architecture and virtualized data processing capabilities to enable them to meet their daily reporting needs.

This joint solution is extensible, works with existing databases and data sources, and can be deployed on-premises or in the cloud. Xcalar co-founder and CEO Vikram Joshi says it combines data processing and virtualization capabilities to solve common issues associated with processing of data from various legacy systems and feeds around regulatory disclosures.

The vendors will release additional models to deal with other industry challenges as the platform develops.

“Businesses across all industries are struggling to bring legacy data assets together. The current approach of building vendor dependent warehouses is time intensive, expensive, and is unable to evolve and adapt as per the regulatory needs,” says Synechron co-founder and CEO Faisal Husain in a statement. “Xcalar created a virtual data warehousing solution that allows businesses to run powerful real-time computing without moving their data. This makes it easier to gain near-term intelligence, facilitates setting up a data lake if desired, and provides sophisticated compliance and data lineage, which is critical for any financial services business case.”