Truist Expands Data Management Capabilities with Acquisition of Arena Platform

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CHARLOTTE, North Carolina, August 22, 2022 /PRNewswire/ — Truist Financial Corporation (NYSE: TFC) announced today that it has acquired key strategic assets from Zaloni™, an award-winning leader in providing data technology solutions. Through this agreement, Truist will acquire the Zaloni Arena platform to accelerate its data governance, metadata management, advanced analytics, and artificial intelligence and machine learning (AI/ML) programs.

Founder and Product Manager of Zaloni Ben SharmaChief Technology Officer Ashwin Nayakand a team of product, engineering and data professionals will join Truist’s Enterprise Data Office led by Chief Data Officer Tracy Daniels. The team will be based at Raleigh.

“Data and analytics are critical to serving the needs of our customers, teammates, and stakeholders. I’m thrilled that this agreement includes the talented team that built the Arena platform, and that they will continue their journey of data innovation as Truist’s teammates,” says Daniels.

“Truist makes investments to continually grow and evolve with the banking needs of our customers. In partnership with Truist Ventures, we have identified the Arena platform as an investment that will help us deliver better financial experiences, advance our strategy and to demonstrate our purpose to inspire and build better lives and communities,” said Scott caseChief Information Officer at Truist.

Zaloni has worked with clients around the world to bring efficiency to complex data environments. The Arena data governance platform quickly and securely delivers trusted data for advanced analytics and AI/ML use cases using an intelligent, collaborative data catalog, automated governance and unified observability to reduce IT costs and accelerate time to insight.

“We are thrilled to be part of the Truist family. This acquisition validates our philosophy that data is a strategic asset and requires a product-centric mindset and discipline. Our Arena product and our incredibly talented employees will serve as catalyst for Truist, accelerating its growth and vision to become a data leader,” said Suzanne CookCEO of Zaloni.

Zaloni’s offshore team will continue to serve its current customers while providing technology delivery services to Truist.

About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets nationwide and offers a wide range of services including retail, small business and corporate banking; asset Management; capital markets; commercial real estate; corporate and institutional banking; Insurance; mortgage; Payments; specialized loans; and wealth management. Based at Charlotte, North CarolinaTruist is a top 10 US commercial bank with total assets of $545 billion of the June 30, 2022. Truist Bank, Member FDIC. Learn more at Truist.com.

About Zaloni
At Zaloni, we believe in the power of data. Our intelligent governance and observability software, the Zaloni Arena Data Governance Platform, quickly and securely delivers trusted data for advanced analytics and AI/ML use cases. Zaloni Arena brings efficiency to complex data environments with an intelligent and collaborative data catalog, automated governance, and unified observability to reduce IT costs and accelerate time to insight. We work with the world’s largest enterprises, delivering trusted data through a governance platform that enhances and protects enterprise data assets. To learn more, visit zaloni.com.

About True Ventures
Truist Ventures is the enterprise venture capital division of Truist Financial Corporation (NYSE: TFC), a goal-oriented financial services company committed to inspiring and building better lives and communities. Based in Charlotte, North Carolina, Truist Ventures delivers unprecedented touch and technology to Truist clients through partnerships and investments in innovative companies and exceptional management teams with innovative solutions to help Truist shape the future of finance. Truist Ventures’ investment focus extends beyond traditional fintech to adjacent disruptive technologies that allow Truist to bring the human touch in new ways. Leveraging Truist’s extensive network of executive-level talent and industry experts across technology, investment banking, capital markets and innovation, the Truist Ventures team helps portfolio companies seize growth opportunities with unparalleled access to exceptional support.

SOURCE Truist Financial Corporation


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