American Fintech Firm Truist Buys Zaloni's Arena Data Governance Platform

American financial services giant Truist has boosted its data management capabilities through the acquisition of vendor Zaloni's Arena platform. Financial terms were not disclosed.

The Arena data governance platform delivers trusted data for advanced analytics and AI use cases using an intelligent and collaborative data catalogue, automated governance, and unified observability to reduce IT costs and accelerate time to insight.

Truist said the platform will help to accelerate its data governance, metadata management, advanced analytics, and artificial intelligence and machine learning programs.

Zaloni founder and chief product officer Ben Sharma, CTO Ashwin Nayak, and a team of product, engineering and data professionals will join Truist's enterprise data office.

Tracy Daniels, chief data officer, Truist, said: "I'm thrilled that this deal includes the talented team that built the Arena platform, and that they will continue their data innovation journey as Truist teammates."