08.19.2020

Citi Invests In Data Management Firm

Solidatus, the leading provider of innovative metadata management software, today announced a strategic investment from Citi, the leading global bank. Citi is also implementing the Solidatus platform internally, at a global enterprise level.

Citi is the first major investor in the enterprise data management company. The Bank’s support as an investor and strategic partner adds to Solidatus’ growing roster of Tier 1 banking clients. The funding will accelerate Solidatus’ growth plans, allowing the company to further its international expansion across the United States and APAC, increase its penetration across non-financial sectors and deliver key product enhancements to achieve their vision of modernising enterprise data management.

Solidatus enables the world’s largest data-rich and regulated organisations to effectively manage their data, people and processes, reducing complexity and risk through transparency, automation and collaboration. The platform delivers insight and enhances control of complex data across operational and technological ecosystems.

Data is critical to all modern organisations and Solidatus, using its cutting-edge graph database technology, is the first solution that allows organisations’ key asset to be efficiently mapped, managed and monetised. The platform plays a critical role across a growing number of client initiatives, including digital transformation, data governance, cloud migration and regulatory reporting.

Stuart Riley, Global Head of Operations and Technology for Citi’s Institutional Clients Group, said: “Our partnership with Solidatus will bring state-of-the-art technology to enhance our data ecosystem. It’s critical we understand our organisational data flow to enable us to deliver efficiently to our clients.”

Philip Dutton, co-founder of Solidatus, comments, “Securing investment from an organisation with the stature of Citi is a tremendous statement of intent for the business, especially at such a key point in our evolution. They are the first of our Tier 1 banking clients to see the potential for a closer strategic partnership. We are pleased to have them play a key role during this pivotal growth stage and look forward to continuing to be a vital component of their digital transformation journey and beyond.”

Chris Hayward, CDO at Citi, adds, “The Solidatus solution will support Citi’s ongoing commitment to change management, helping our global infrastructure to stay agile, efficient and robust. Data is our most valuable asset and it sits at the core of our organisation.”

This significant investment in the metadata management solution follows a successful rollout of its latest software update, Version 4.0 featuring its integrated, elevated and enhanced industry-leading Data Catalog.

Source: Solidatus

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