Nathan Wolaver and Boyke Baboelal from Alveo Technology focus on data management 2.0 in this edition of the FTF News Exchange podcast.
Is cloud computing turning securities firms into data hoarders?
The issue came up during the latest in our FTF Exchange podcast series with two representatives from Alveo Technology, formerly known as Asset Control.
FTF News got time with Nathan Wolaver, the managing director for the Americas at Alveo, and Boyke Baboelal, strategic solutions director for Americas at Alveo.
When asked about the cause of the huge data volumes that firms are struggling with, Wolaver cites the widespread embrace of the cloud.
“It used to be that … you had to go through the entire process of acquiring more hardware. You had to go to the CTO [chief technology officer], the CFO [chief financial officer], and say, ‘Great, listen we want to buy you know a petabyte of data storage,’ ” Wolaver says.
“Now, with the cloud … people are just storing everything. So, the fact of the matter is [they’re saying] we’ll get to it later but we’re just going to store it because we don’t know what value this has … The trouble is going to be how structured is that information,” Wolaver says.
The podcast also covers:
- Cloud-native technologies;
- Machine learning/A.I.;
- Robotic process automation (RPA);
- Cutting-edge and open-source technologies;
- Optimal retrieval of relevant data for decision-making;
- How to apply meta-data;
- Keeping data management costs under control;
- New directions and options for securities firms;
- And true transparency and scalability.