SRA Watchtower, a leader in risk management technology, announced the acquisition of Lumio Insight, a cloud-based data management and analytics provider. This strategic acquisition will enhance Watchtower by integrating Lumio Insight’s advanced data delivery and automated ingestion capabilities, providing transformative risk insights and enabling financial institutions to make better decisions with greater accuracy and speed.
Cyber Technology Insights: Enzoic Reports Surge in Fortune 500 Account Breaches
“By combining Lumio Insight with SRA Watchtower, we are well-equipped to enhance and deliver The Holistic Risk and Business Intelligence Platform, furthering our mission of empowering executives and boards to make the best risk-informed decisions.”
“Data is the currency of the future,” said Edward Vincent, CEO of SRA Watchtower. “Lumio Insight’s data ingestion capabilities and insight applications will enable Watchtower to provide banks, as well as credit unions, with a timely view into operational and financial risks. By combining Lumio Insight and its talented team with SRA Watchtower, we are well-equipped to enhance and deliver The Holistic Risk and Business Intelligence PlatformTM, furthering our mission of empowering executives and boards to make the best risk-informed decisions.”
Effective immediately, Lumio Insight Co-Founder and CEO Jeff Fink will lead SRA Watchtower’s product and technology teams and join its Board of Directors. “By integrating our expertise in data management and business intelligence with Watchtower’s leading risk management analytics, we will provide even more powerful insights to the financial services industry,” said Jeff Fink. “Lumio Insight’s suite of Financial, Customer, Deposit, and Loan Insight applications combined with Watchtower’s Risk Insight capabilities will empower chief financial, credit and risk officers to enact better operational and strategic decisions.”
Lumio Insight’s cloud-based platform automates the ingestion of critical data from more than two dozen core, general ledger, BSA, and other financial and risk systems into a single data warehouse for improved access and deeper business intelligence. Banks and credit unions will gain a more comprehensive view of their operational health, improving financial stability and easing regulatory compliance.
A mutual customer of SRA Watchtower and Lumio Insight sees the immediate benefits of the business combination. “Lumio Insight’s data analytics and Watchtower’s risk intelligence platform together will provide a deeper view into our operations and risks,” said Aaron Poffinberger, EVP, Chief Operating Officer of Bank of Clarke. “This integration provides timely data, enabling us to proactively manage risk, streamline processes, and enrich communication with our board of directors as well as bank regulators.”
Over the next several months, the product teams will work together to deliver a unified, data-driven, AI-powered approach to risk and financial management that empowers executives and boards to navigate an increasingly complex landscape. This acquisition and technology integration is a key milestone in the company’s mission of empowering institutions with actionable insights to optimize risk.
Cyber Technology Insights: Red Bull Racing & 1Password Strengthen Security Partnership
To participate in our interviews, please write to our CyberTech Media Room at news@intentamplify.com
Source – Businesswire
