From the Wires
Renaissance Capital Appoints TIBCO to Turn Big Data Into Big Opportunity
Investment Bank Is Latest Organization to Get the Two-Second Advantage by Improving Its Ability to Understand, Anticipate and Act Upon Big Data
By: Marketwired .
Feb. 15, 2013 02:58 PM
LONDON -- (Marketwire) -- 02/15/13 -- TIBCO Software Inc. (NASDAQ: TIBX) has completed the first stage of a major project to help Renaissance Capital, the leading investment bank focused on emerging markets, unlock the potential within big data. The project is set to enable the bank and its clients to make faster, better-informed and more profitable decisions.
This latest investment in TIBCO is allowing the company to mine vast amounts of real-time digital market information alongside transactional and traditional data sources. Renaissance Capital is already witnessing a significant improvement in the speed with which it can access and act on business data and a subsequent increase in the number of daily trades.
The next phase of the project will further improve the bank's reporting capabilities. The new platform will give Renaissance Capital the capability to provide 'self-service' analytics tools and instruments and better visualization for live and historic data for its clients rather than generic, daily reports showing their portfolio performance. The investment is the latest in a long line of projects that TIBCO has undertaken for Renaissance Capital. The successful relationship stretches back to 2006 when TIBCO was selected to integrate the banks' disparate business IT systems.
This latest investment was made after a thorough market place review. TIBCO was chosen due to the strength of its big data expertise and products and its proven track record with Renaissance Capital. TIBCO will underpin the project with TIBCO ActiveSpaces® -- TIBCO's in-memory data grid technology and the TIBCO Spotfire® analytics platform.
Adam Mitchell, CIO at Renaissance Capital, said: "Selecting TIBCO was made easy for us as it natively understands the needs of banking clients and underpins that with a great team and an innovative, broad product set. We are already seeing an improvement in the way in which we can turn copious amounts of data into business opportunities. Our clients will soon have the ability to see great development in creation of the analytics they need, from the data they want and in the time frame they require."
Mark Darbyshire, CTO of Europe for TIBCO Software Inc., said: "It's always an honor to be re-appointed by a client, and this is no exception."
He added: "We have long since held a successful working relationship with Renaissance Capital and there is a genuine feeling of teamwork when we work together. This latest project makes use of all the great integration work that we have been doing over the past six years. By enabling them to analyze vast amounts of live and historic data across multiple internal and external sources they can make fast, sound decisions."
TIBCO, two-second advantage, ActiveSpaces, Spotfire, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
About Renaissance Capital (www.rencap.com)
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