Sumo Logic, a pioneer in continuous intelligence, has announced it is expanding its work with leading businesses in the FinTech and banking sectors including Coincheck, Currencycloud, Moneytree, MoonPay, Paidy, Snoop and more. These companies use Sumo Logic’s Continuous Intelligence Platform to transform data from complex systems into real-time insights with a single pane of visibility across security and operations to help FinTechs diagnose and troubleshoot issues faster and reduce service interruptions.
The FinTech space is one of the fastest-growing areas of emerging technology, with investments of US$44 billion globally in 2020, according to Innovate Finance. In order to successfully compete in this highly competitive and regulated market, FinTechs need to know what happens in their business as it happens so they can respond with speed and relevance. Getting real-time access to data around application performance is essential for developing business operations, while keeping those services both secure and compliant. With more companies developing their applications on cloud-native infrastructure, FinTechs are turning to continuous intelligence, a new category of software with real-time insights delivered from a single, cloud-native platform across multiple use cases to speed decision-making and drive world-class customer experiences.
“New cloud and application architectures, increasing regulation and security concerns, coupled with the acceleration of Digital Transformation is challenging all industries, including FinTech to modernise their business in order to stay competitive,” said Dione Hedgpeth, Chief Customer Officer at Sumo Logic. “The ability to harness real-time analytics and continuous intelligence across operations and security can support FinTechs business objectives as they compete against more traditional banks. In turn, teams can move quickly and adopt new technologies faster, which means organisations can spend more of their time building services for their customers and less time managing their infrastructure.”
Sumo Logic works with a number of the world’s leading FinTech organisations to accelerate innovation and reduce the time to detect, identify and resolve operational and security issues.
Jem Walters, Chief Technology Officer, Snoop, said: “Our service is based on taking customer banking transaction data via Open Banking, understanding their behaviour and helping them with money saving recommendations that are personalised to them, a bit like Instagram for their money. Customers trust us with their banking data, and therefore we have to be as secure as a bank. Sumo Logic takes the same approach that we deliver to our customers around security, developer and operations data, offering our DevOps team real-time insights and actionable intelligence. Because Sumo Logic’s platform spans security and observability, it significantly helps our team be more efficient as we look to scale-up.”
Derik Vercueil, Global Vice President of Architecture and Security, Currencycloud, said: “We wanted a partner that delivered on the promise of a great customer experience. Sumo Logic provides Currencycloud centralised security analytics with real-time alerts and actionable intelligence. It is helping us scale for enterprise services and banking-grade security.”
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