TD Bank Partners with Cinchy to Solve Data Issues

The problem of disparate data is something all banks have been struggling with and TD Bank seems to have found a solution; TD Bank has partnered up with software startup Cinchy to tackle the issue; “We found it to be a great way to quickly tie data together, understand the differences in systems, and then use it as an exchange of data,” said Tim Clark, CIO of Business Segment Technology at TD Bank, to American Banker; Cinchy is a new kind of software called data fabric, according to research firm Gartner it was one of the top data and analytics technology trends last year; the technology allows data to be shared amongst different applications even if it was written in separate computer language and formatted differently; “Once a set of data is connected to Cinchy’s data network, the next project, user or system that needs that data no longer needs to go back to the original system of record,” Cinchy CEO and Co-Founder Dan DeMers said to American Banker; TD bank has been using the software to pilot and prototype data exchange to see where issues might occur. American Banker

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