As enterprises continuously expand digital transformation efforts and use artificial intelligence, the processing and application of data become crucial for improving operations and remaining competitive in the current market. This list aims to help the financial industry explore the cutting-edge technologies of future data management innovation. Ultipa, relying on its leading technology and innovation ability in the field of graph databases, successfully made it onto this global award list.

Recently, Find Tech Global, a world-leading financial technology information service giant, launched the first "DataTech50 for 2024" ranking. Ultipa, relying on its leading technology and innovation ability in the field of graph databases, successfully made it onto this global award list and was honored with this distinction.

"DataTech50", as an annual list, is selected by a jury composed of industry experts and well-known analysts. Fifty of the most innovative technology companies worldwide that provide data management solutions for financial services are carefully chosen from more than 400 shortlisted enterprises. The selection criteria cover multiple aspects, including the industry significance of the problems solved, growth in fundraising, revenue, and customer attraction, the degree of innovation in technical solutions, potential cost savings and efficiency improvements for customers, impact on the value chain or increase in revenue, and the degree of understanding of the company by financial institutions.

This list is part of a series of studies aimed at helping the financial industry explore the cutting-edge technologies of future data management innovation. Ricky Sun, an expert in international high-performance computing and storage and a graph database expert and CEO of Ultipa, said that Ultipa's financial solutions are all developed based on long-term research on financial business. They found that customers are not short of data but lack useful and effective tools.

Richard Sachar, director of FinTech Global, pointed out: "As good data management continues to be an absolute necessity for financial service enterprises, companies increasingly need to be able to control the data they own and turn it into a competitive advantage. But Gartner has outlined in a recent report the severity of collecting poor-quality data, claiming that this practice will cost organizations an average of $12.9 million per year."

Ultipa provides a breakthrough solution to this problem, helping financial institutions turn waste into treasure from massive amounts of data and improve data utilization. Its core technology - super node penetration is the first patent in the international scope to explore super node sorting technology. This technology solves the long-standing performance bottleneck of graph databases. Especially in financial networks, popular users with a large number of connections often lead to a decline in performance. Ultipa has creatively solved this super difficult problem in complex networks.

In addition, Ultipa also has the industry's only "compute-on-write" dynamic graph query/algorithm technology. At the same time, it meets the HTAP architecture of load balancing and data consistency. These are all underlying technical guarantees to meet and be competent for the complex data processing needs of large financial institutions. In practical, when measuring risk management indicators in the banking industry, Ultipa's operating speed far exceeds that of leading traditional databases such as Oracle and Moody's Analytics. In building intelligent operations and asset-liability management systems, it has also successfully cracked and reinvented the two "black boxes" of Oracle's cash flow engine and rule engine using real-time graph computing methodologies, and achieving speed-up in the range of 1,000x to 12,000x -- which means a lot of previously lengthy or even impossible tasks (i.e., attribution analysis) can be done in real-time fashion.

In recent years, Ultipa has successfully handled many complex financial data scenarios, including Real-time Liquidity Risk Management, ALM Management, Online Decision Making & Fraud Detection, Online Credit Risk Management, etc. Its maximum performance and innovative solutions not only improve the data processing capabilities of financial institutions but also bring significant cost savings to customers. Data shows that Ultipa accelerates the underlying engine through technologies such as high-density graph computing, real-time hot-spot/supernode penetration, ulta-deep traversal, and dynamic pruning, helping customers build small cluster-scale deployments and ultimately achieving a reduction of more than 70-75% in total cost of ownership and carbon footprint. In addition, in view of the high attention paid by financial institutions to security and accuracy, different from the pain points of traditional system algorithms where results cannot be explained and are black-boxed, as a graph-augmented AI, Ultipa Graph XAI also realizes the performance advantages of white-boxing such as algorithm transparency, explainability, traceability, and verifiability!