CHARLOTTE, N.C., Aug. 22,
2022 /PRNewswire/ -- Truist Financial Corporation
(NYSE: TFC) today announced that it has acquired key strategic
assets from Zaloni™, an award-winning leader in data technology
solution delivery. Through this agreement, Truist will acquire the
Zaloni Arena platform to accelerate its data governance, metadata
management, advanced analytics, and artificial intelligence and
machine learning (AI/ML) programs.
Zaloni Founder and Chief Product Officer Ben Sharma, Chief Technology Officer
Ashwin Nayak, and a team of product,
engineering and data professionals will join Truist's Enterprise
Data Office led by Chief Data Officer Tracy
Daniels. The team will be based in Raleigh.
"Data and analytics are essential to delivering on the needs of
our clients, teammates, and stakeholders. I'm thrilled that this
deal includes the talented team that built the Arena platform, and
that they will continue their data innovation journey as Truist
teammates," said Daniels.
"Truist is making investments to continuously grow and evolve
with our clients' banking needs. In partnership with Truist
Ventures, we identified the Arena platform as an investment that
will help us deliver better financial experiences, advance our
strategy and demonstrate our purpose to inspire and build better
lives and communities," said Scott
Case, chief information officer at Truist.
Zaloni has worked with clients around the globe to bring
efficiency to complex data environments. The Arena Data Governance
Platform rapidly and securely delivers trusted data for advanced
analytics and AI/ML use cases using an intelligent and
collaborative data catalog, automated governance, and unified
observability to reduce IT costs and accelerate time to
insight.
"We are thrilled to become a part of the Truist family. This
acquisition validates our philosophy that data is a strategic asset
and requires a product-oriented mindset and discipline. Our Arena
product and our incredibly talented people will serve as a catalyst
for Truist, accelerating its growth and vision of becoming a leader
in data," said Susan Cook, chief
executive officer of Zaloni.
Zaloni's offshore team will continue serving their current
customers while also providing technology delivery services to
Truist.
About Truist
Truist Financial Corporation is a
purpose-driven financial services company committed to inspiring
and building better lives and communities. Truist has leading
market share in many high-growth markets in the country, and offers
a wide range of services including retail, small business and
commercial banking; asset management; capital markets; commercial
real estate; corporate and institutional banking; insurance;
mortgage; payments; specialized lending; and wealth management.
Headquartered in Charlotte, North
Carolina, Truist is a top 10 U.S. commercial bank with total
assets of $545 billion as of
June 30, 2022. Truist Bank, Member
FDIC. Learn more at Truist.com.
About Zaloni
At Zaloni, we believe in the power of
data. Our intelligent governance and observability software, the
Zaloni Arena Data Governance platform, rapidly and securely
delivers trusted data for advanced analytics and AI/ML use cases.
Zaloni Arena brings efficiency to complex data environments through
an intelligent and collaborative data catalog, automated
governance, and unified observability to reduce IT costs and
accelerate time to insight. We work with the world's leading
companies, delivering trusted data through a governance platform
that both improves and safeguards enterprises' data assets. To find
out more visit zaloni.com.
About Truist Ventures
Truist Ventures is the
corporate venture capital division of Truist Financial Corporation
(NYSE: TFC), a purpose-driven financial services company committed
to inspire and build better lives and communities. Headquartered
in Charlotte, North Carolina,
Truist Ventures delivers unprecedented touch and technology to
Truist clients through partnerships with, and investments in,
innovative companies and exceptional management teams with novel
solutions to help Truist shape the future of finance. Truist
Ventures' investment focus stretches beyond traditional financial
technology into adjacent, disruptive technologies that enable
Truist to deliver a human touch in new ways. Leveraging Truist's
extensive network of executive-level talent and industry experts in
technology, investment banking, capital markets and innovation, the
Truist Ventures team helps portfolio companies fulfill growth
opportunities through unparalleled access to exceptional
support.
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SOURCE Truist Financial Corporation