Teradata recognized as a Fast Track FinTech, moves up 7 places in ranking
Teradata announced that it has ranked #30 on the 2022 IDC FinTech Rankings, moving up seven places from the previous year’s ranking. This annual vendor ranking represents the leading hardware, software, and technology service providers to the financial services industry. Vendors are ranked based on 2021 calendar year revenues attributed to financial services and FinTech industries. This is the 3rd consecutive year Teradata has been named on the list, underscoring the company’s ongoing commitment to help financial institutions successfully execute their digital transformation initiatives by leveraging the full power of data analytics.
IDC Financial Insights publishes a comprehensive report about the year’s findings that is available to view or download from http://www.idc-fi.com.
“In today’s macroeconomic climate, a new approach to data and analytics is essential as businesses across the financial sector contend with global regulation and compliance measures, rising security concerns, and a shift from delivering generalized products to tailored services” said Jacqueline Woods, Chief Marketing Officer at Teradata. “The future of financial services is built on data-driven capabilities that enable one-to-one financial experiences; the IDC FinTech Rankings recognize Teradata’s critical role in helping the industry achieve this future through rapid digital transformation, powered by analytic insights.”
The Fortune 500-style ranking categorizes and evaluates the top global providers of financial technology based on 2021 calendar year revenues and the percentage of those revenues exclusively attributed to financial institutions, including banks, capital markets firms, and insurers or directly to fintech solution providers for hardware, software, and/or services. These providers supply the technological backbone of the financial services industry, an industry in which IDC forecasts worldwide spending on IT across the globe to be $590 billion (USD) by 2025.
With 15 of the top 20 global banks as customers, Teradata’s strong and growing presence in the financial services sector will be bolstered by the recent launches of Teradata VantageCloud Lake, its first product based on all-new, next-generation cloud-native architecture, and ClearScape Analytics, the company’s significantly expanded, industry-leading in-database analytics.
With the introduction of Teradata VantageCloud Lake, financial services organizations will have greater ability to innovate by quickly spinning up ad hoc, exploratory, and departmental analytic workloads, enabling them to be nimbler and more experimental without giving up the governance and cost controls for which they depend on Teradata. And with ClearScape Analytics, financial services customers can rapidly activate massive amounts of data to solve complex business challenges and create an environment designed for emerging AI/ML applications. These data-driven applications will be ever more critical for forecasting, auditing, anomaly detection, and experimentation.