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News

US Revenues Boom For Datanomic

Datanomic : 09 November, 2010  (Company News)
Compliance Screening specialist sees advantages in the boom for anti-fraud and compliance products in the American market
Risk & compliance screening and enterprise data management specialists, Datanomic, has announced that surge in demand for its award-winning solutions has resulted in a seventy percent increase in US revenues, a trebling of its sales pipeline, and faster than expected growth, prompting the appointment of additional industry heavyweights to its North American operations. The need for a single view of enterprise data and systematic sanctions screening across all major sectors has resulted in increased interest in Datanomic's solutions for Customer and Denied Party Screening, and dedicated solutions for ensuring fit-for-purpose data for Marketing and HR.

In response to growing momentum, Datanomic has announced additional head count to support its North American growth. Mark Favelson joins Datanomic's US Operations as Director of Data Management Applications (DMA) to expand customer and alliance partner relationships for the company's DMA Division in North America. Mark brings more than a decade of experience in providing solutions for proactive data management, integration and data governance. Prior to joining Datanomic, Mark held senior sales positions within Ascential Software (Now IBM InfoSphere), Informatica and DataFlux (a SAS company), where he established new relationships with Fortune 500 customers. His success across multiple industries includes the financial services, insurance, pharmaceutical and consumer products markets.

Geff Vitale joins Datanomic's North American Professional Services team as Project Manager. With an extensive background in Anti-Money Laundering solutions, Geff was most recently Head of Education and Training for Risk, Fraud and Compliance Solutions at FIS (formerly Metavante Technologies Inc), and has also supported a number of major banking related projects.

Escalating US demand has also resulted in Gregory Smith, Datanomic's first Sales Director in the region, to focus exclusively on pursuing opportunities in the company's Risk & Compliance Screening Division for North America., which he will now run.

In addition to its seventy per cent growth in US revenues, Datanomic also signed significant new customers in 2010, including Omgeo, Barclaycard, Alico, Volvo Trucks North America and Ontario Teachers. The company is also working with major ISVs, data solution companies, such as Broadstreet Data, and service providers including EXL Services. Datanomic plans to continue to aggressively expand its US partner network into 2011 to keep pace escalating customer demand across all vertical markets.

Dr Jonathan Pell, CEO, Datanomic, commented, "We've had a phenomenal year within the US market and we are now building on that success. Creating a single view of data, ensuring fit-for-purpose data and adherence with compulsory legislation and regulatory compliance are all critical business issues. Unfortunately, for many organizations, they haven't found the right solution, have not been given the right advice in terms of process and technology, or are perhaps naïve to the very issues that they are exposed to. Companies realize they cannot simply bury their head in the sand or fail to be proactive, which is why we are seeing such demand for our market leading solutions."

Datanomic's solutions already have a strong global footprint. Its Risk & Compliance Screening software is being used to screen in excess of five billion client records every month, in more than 100 countries. The solution is the de facto standard for risk and compliance screening for the UK financial services sector, with several of the top ten global Retail Banks, half of the UK's top ten Wealth/Asset Managers, one of the London Stock Exchange's oldest stockbroking firms, and some of the UK's largest Insurance companies all using its technology. Datanomic has already received widespread industry recognition for its growth in the UK and Europe. The company was recently ranked 11th in The Sunday Times Tech Track 100 for the fastest growing technology companies in the UK, and was recently included in the Deloitte Technology Fast 500 EMEA 2010 rankings.
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