DIGITAL BANKING
data through its marketplace, which contains over 3,000 listings from more than 750 providers. This connectivity enables what Sridhar describes as the fundamental principle underlying effective AI implementation.
“ There is no AI strategy without a data strategy. Data is the fuel, and Snowflake’ s AI Data Cloud is powered by a connected ecosystem of data,” Sridhar says.
Financial services firms including Stripe and State Street use the platform for secure data sharing with partner ecosystems, with many maintaining hundreds of live connections. CME Group uses it for real-time market intelligence, whilst other companies deploy AI for insurance underwriting and investor report analysis.
The NYSE’ s parent company, Intercontinental Exchange, has achieved particular success with Snowflake’ s Snowpark platform for data engineering workloads. The exchange migrated its regulatory reporting
“ We know the customer needs to move ahead with confidence that the right people are using the right data for the right purpose”
SRIDHAR RAMASWAMY, CEO, SNOWFLAKE
operations to Snowpark after finding that maintaining separate compute environments was both costly and operationally burdensome. Anand Pradhan, Senior Director of Regulatory and NMS Tech at NYSE, describes the challenge:“ Our regulatory reporting workload looks at hundreds of billions of records in the data set and constantly merges them together to find different patterns – all while joining various reference data sources. It requires a massive amount of compute.”
The migration delivered immediate financial benefits. Related data costs fell by more than 50 % within one month of deploying Snowpark for
62 July 2025