SEI Introduces SEI Data Cloud

Rhea-AI Summary

SEI (NASDAQ:SEIC) has announced the launch of SEI Data Cloud, in partnership with Snowflake, to meet the growing demand for advanced data integration in the financial services sector. This scalable, cloud-based platform offers features like real-time data access, business alerts, and Analytics-as-a-Service. Initially, it will enhance the SEI Wealth Platform for clients, with two early adopters already on board. This initiative underscores SEI's commitment to delivering innovative solutions that drive revenue growth and support clients' data needs.

Positive

• Launch of SEI Data Cloud in partnership with Snowflake enhances data integration capabilities.
• Provides real-time data access and business alerts, improving client services.
• Initial adoption by two clients indicates positive market interest.

Negative

• None.

Solution to Provide Clients with Real-time Data and Analytics, Powered by Snowflake

OAKS, Pa., Aug. 22, 2022 /PRNewswire/ -- SEI® (NASDAQ:SEIC) today announced the launch of SEI Data Cloud through a strategic partnership with Snowflake, the Data Cloud company, to address the financial services industry's demand for more advanced data integration. SEI Data Cloud, Powered by Snowflake, is designed to offer a scalable, cloud-based data platform that clients globally can access directly through the SEI Wealth Platform^SM (SWP) or as a standalone service.

SEI Data Cloud seeks to meet the industry demand for more advanced data integration, as financial and technology organizations increasingly need database-like access to power analytics, application development, consumption of large amounts of data, and advanced reporting.

SEI Data Cloud users have access to modern delivery capabilities, including:

• On-demand access to real-time data
• Business event-based alerts and notifications
• Ease of information consumption
• Analytics-as-a-Service (AaaS)

SEI plans to initially leverage Snowflake as a data delivery and analytics platform for SWP clients, providing users access to information in real time and enabling an enterprise view of information. SEI already has two early adopters of SEI Data Cloud and is engaging with multiple clients to roll out the solution.

Ultimately, the company intends to offer enterprise information delivery, reporting, and analytics capabilities to all clients across the financial services spectrum. This represents SEI's commitment to enhancing its offerings and delivering new solutions that enable clients to power their businesses and drive revenue growth for the company.

Sanjay Sharma, Head of Private Banking at SEI, said:
"The dynamic demand for flexible and real-time access to information with ease of consumption is rapidly growing across the financial services landscape. By leveraging Snowflake's data-sharing capabilities, we believe we can provide our clients access to customized data and analytics reporting at any time and in a manner that complements our modern API approach. We're thrilled to partner with Snowflake in delivering this transformative technology to our markets."

Rinesh Patel, Global Head of Financial Services at Snowflake, said:
"SEI's role in the wealth and asset management ecosystem combined with Snowflake's scalable data delivery and analytics capabilities, enables financial services participants to seamlessly consume, analyze, and utilize data. We look forward to working with SEI to redefine our customers' data experience and meet the evolving needs of the financial services community."

About SEI® SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change and help protect assets—for growth today and in the future. As of June 30, 2022, SEI manages, advises, or administers approximately $1.3 trillion in assets. For more information, visit seic.com.  

To become a Snowflake partner, get access to Snowflake's self-service partner resources and apply for the Powered by Snowflake program, please visit www.snowflake.com/partners/poweredbysnowflake.

This release contains forward-looking statements within the meaning or the rules and regulations of the Securities and Exchange Commission.  In some cases you can identify forward-looking statements by terminology, such as "may," "will," "intend," "expect," "believe" and "continue" or "plan." Our forward-looking statements include our current expectations as to:

• Whether our solutions will address the financial services industry's demand for more advanced data integration;
• whether we will offer enterprise information delivery, reporting, and analytics capabilities to all clients across the financial services spectrum;
• our ability to provide our clients access to customized data and analytics reporting at any time and in a manner that complements our modern API approach; and
• the success, if any, of the sales and strategic initiatives we pursue.

You should not place undue reliance on our forward-looking statements, as they are based on the current beliefs and expectations of our management and subject to significant risks and uncertainties, many of which are beyond our control or are subject to change. Although we believe the assumptions upon which we base our forward-looking statements are reasonable, they could be inaccurate. Some of the risks and important factors that could cause actual results to differ from those described in our forward-looking statements can be found in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended Dec. 31, 2021, filed with the Securities and Exchange Commission.

Company Contact:	Media Contact:
Leslie Wojcik	Kristina Pereira Tully
SEI	Vested
+1 610-676-4191	1 917-765-8720 x1029
lwojcik@seiccom	kristina@fullyvestedcom

 

View original content:https://www.prnewswire.com/news-releases/sei-introduces-sei-data-cloud-301609532.html

SOURCE SEI Investments Company

FAQ

What is SEI Data Cloud and how does it benefit clients?

SEI Data Cloud is a scalable cloud-based platform that provides clients with real-time data access, business alerts, and advanced analytics capabilities, enhancing their ability to manage and utilize data effectively.

When was SEI Data Cloud launched?

SEI Data Cloud was launched on August 22, 2022.

Who partnered with SEI for the SEI Data Cloud?

SEI partnered with Snowflake to develop SEI Data Cloud, leveraging their data integration and analytics capabilities.

What features does SEI Data Cloud offer?

SEI Data Cloud offers features like on-demand real-time data access, business event-based alerts, ease of information consumption, and Analytics-as-a-Service.

How many clients have adopted SEI Data Cloud initially?

Initially, two clients have adopted SEI Data Cloud, indicating early market interest.