AArete partners with data firm Hazelcast

AArete, a Chicago-headquartered management and technology consulting firm, has partnered with Hazelcast, a Silicon Valley-based real-time data-streaming platform company.

Founded in 2010, Hazelcast is a leading in-memory data grid used by enterprises to enable real-time inventory and shipping, rapid fraud detection, and insights that lead to product innovation. The venture-backed tech firm has approximately 200 employees, according to LinkedIn.

Hazelcast has seen double-digit growth in the last three years amid increasing enterprise demand for real-time data solutions. The firm’s platform is used by many Global 2000 companies, including 24 of the world’s largest banks.

The partnership with AArete will focus on providing financial services firms with real-time digital solutions that deliver timely and customized banking customer experiences, internally managed and centralized market data systems, and operations ready for open banking and high-speed payment processing.

“Hazelcast is unique in equipping companies to tap into data in motion, enrich it with relevant historical data, and take instant action using a rules- or ML-driven approach,” said Karen Smith, chief revenue officer at Hazelcast. “By partnering with AArete, we can bring real-time solutions to more companies looking for a competitive edge in the real-time economy.”

AArete recently celebrated its 15th anniversary. The firm supports healthcare, education, financial services, and public sector clients – advising on strategy, profitability improvement, data and analytics, and technology. AArete boasts a data-driven approach, deploying an in-house data science team alongside its consultants.

The consultancy has approximately 500 people across nine offices in the US, UK, and India.

“We interact daily with companies that need to shift from delayed actions to instant actions,” said John Carey, managing director of financial services technology solutions at AArete. “The Hazelcast Platform plugs into existing systems to process and enrich fresh streaming data with relevant stored data to detect opportunities and threats and act instantly.”