San Mateo, California (PRWEB) April 13, 2009
Greenplum, a leading provider of database software for the next generation of data warehousing and analytics, today announced that Zions Bancorporation, a $55-billion financial services company that operates eight independent banks in the Western and Southwestern U.S., is implementing Greenplum Database as the platform for its Enterprise Data Warehouse program. Zions Bancorporation will be using Greenplum to analyze terabytes of financial, customer, risk management and transactional data to derive actionable business insights that help drive revenue growth and expense controls.
Zions operates commercial banks in eight western states, each with its own management team and local approach to banking. Every affiliate bank has specific data needs, and Zions is implementing Greenplum as the system to meet these varying needs while providing the data and analytics for central reporting and risk-management analyses.
"Through bank acquisitions and because of increasingly stringent analytic needs, dramatically increasing user needs and ongoing regulatory compliance changes, our data volumes and user base are growing exponentially. We turned to Greenplum because its massively parallel data warehousing approach was purpose-built for large-scale data analysis and is the only one robust and cost effective to grow with us over time," said H. Walter Young, senior vice president of Corporate Finance at Zions Bancorporation. "Greenplum allows us to process massive amounts of data in a fraction of the time it took before and enables us to draw key conclusions from our data, so that we can offer more innovative products, analytics, and services to our customers and partners as we grow."
Zions chose Greenplum Database due to it ability to support petabyte-scale data warehousing on low-cost commodity hardware, providing cost-effective scalability and the ability to add data warehouse capacity in small or large increments. Greenplum can be easily deployed across hundreds of commodity servers, making it possible to grow computing and storage capacity efficiently and cost-effectively. Zions' strategy around Greenplum is to consolidate all of its physical data marts into a single environment, giving users access to data and the processing power of Greenplum.
"Financial institutions are under increased pressure to store, manage and analyze massive quantities of data to meet compliance and privacy regulations, yet they are also facing the most difficult economic environment in decades," said Bill Cook, chief executive officer of Greenplum. "Companies like Zions are innovators in their field. Greenplum looks forward to continuing to provide Zions with the scalable, cost-effective data warehousing and analysis solutions it needs to tap its ever-growing data volumes for the best possible business benefit."
Greenplum is a database software company that is reinventing how companies gain insight and competitive advantage from their data. The company's flagship product, Greenplum Database, is built to support the next generation of data warehousing and large-scale analytics processing. Supporting SQL and MapReduce parallel processing, Greenplum Database offers industry-leading performance at a low cost for companies managing terabytes to petabytes of data. Greenplum Database is used by major global organizations including NASDAQ OMX, NYSE Euronext, Reliance Communications, Skype, and Fox Interactive Media/MySpace. Greenplum partners with Sun Microsystems to power the Sun Data Warehouse Appliance. For more information visit http://www.greenplum.com.
About Zions Bancorporation
Zions Bancorporation is one of the nation's premier financial services companies, consisting of a collection of great banks in select high growth markets. Zions operates its banking businesses under local management teams and community identities through approximately 500 offices in ten Western and Southwestern states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. The Company is a national leader in Small Business Administration lending and public finance advisory services. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to subsidiary banks can be accessed at http://www.zionsbancorporation.com.