Truist Financial in Charlotte, N.C., has agreed to buy a data governance platform from Zaloni.
The $545 billion-asset Truist said in a press release Monday that it will acquire the Zaloni Arena platform, which will also help the company accelerate its expansion into metadata management, advanced analytics, artificial intelligence (AI) and machine learning (ML).
Ben Sharma, Zaloni’s founder and chief product officer, and Ashwin Nayak, the company’s chief technology officer, are part of a Raleigh, N.C., team that will join Truist.
“Data and analytics are essential to delivering on the needs of our clients, teammates, and stakeholders,” Tracy Daniels, Truist’s chief data officer, said in the release. “I’m thrilled that this deal includes the talented team that built the Arena platform.”
Zaloni’s offshore team will continue serving current clients while also providing technology delivery services to Truist.