The modern-day platform “Cloudera” that offers benefits such as data analytics and machine learning cloud optimization recently announces its partnership with a well known artificial intelligence (AI) simulation firm i.e. Simudyne Technology.

Both the companies will work together to bring the change in the financial sector to big data. According to reports, the firms are set to jointly work on the first computational simulation platform.

The new platform will open up doors for financial companies as well as banks, as it will allow companies to design and run any type of simulation model on a large scale. The CEOs of firms dealing in the financial sector with the help of the new platform will be able to make dramatically better decisions quickly whether they are working on the premises, on the cloud or in a hybrid environment.

Tom Reilly, Chief Executive Officer at Cloudera mentioned in the statement with our SDX (Shared Data Experience) and the Cloudera Enterprise, we are providing policy enforcement, security capabilities, identity management, and data governance that banks need for the regulatory compliance.

With the increasing risk, the simulation platform of Simudyne makes it easier to understand, analyze the heterogeneous data and reduce efforts. It helps financial institutions to do better prediction which ultimately results in making better business decisions.

“Only the Cloudera Enterprise got certified to run simulation platform of Simudyne.” With its help, financial institutions can understand their customers in a better manner. They can easily manage the credit risk, work on stress testing tools and easily promote the economic stability.

Barclays Bank, Chief Executive Officer Jes Staley added: “It enables us to have better customer insights, understand the risks better and have a great exposure”. As a CEO, he is now able to understand their customer in a better and effective way.

With Simudyne’s computational simulation software and the power of Cloudera machine learning, Justin Lyon, Chief Executive Officer at Simudyne added “business leaders can easily run the “What if” scenario and deal with it in a better and effective way in their financial institutions.”

“Together, we offer financial services the first simulation toolkit that accurately captures complex feedback and amplification effects that give rise to systemic risk. This new approach addresses the issues created with single scenario analysis, including limited insight into the resilience of the financial system and the inability to capture nonlinear dynamics, knife edges of risk, and emergent phenomena.”

The situation of “What if” says about the market as the economy that can fluctuate without any warning. So, the simulation technique will help them to make it clear and run the banks smoothly even in the harsh situation.