Cockroach Labs Collabration news – Cockroach Labs Announced a Strategic Collaboration With PwC UK

With this partnership, PwC UK and Cockroach Labs will offer end-to-end comprehensive solutions to banks and financial service institutions grappling with evolving regulatory complexities and impending mandates around operational resiliency, business continuity, and data sovereignty.

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Additionally, they will address the growing need for financial firms to migrate from legacy mainframes in alignment with modern customer expectations and industry-wide cost optimization initiatives.

Jon Maskery, Cloud Transformation and Payments Leader, PwC UK said, "Designing for operational resilience is paramount as significant regulatory headwinds underscore the importance of multi-cloud and multi-region platforms, We view CockroachDB as more than just another database within a crowded market. It provides our clients with a critical solution to reduce regulatory risks associated with data sovereignty, operational resilience, and cloud transformation."

EU regulations have elevated operational resiliency to a top-priority for financial firms which emphasizes the need for multi-region and multi-cloud platforms. The Digital Operational Resilience Act (DORA) has broadened the focus from guaranteeing financial soundness to also ensuring firms can maintain resilient operations through severe operational disruptions. Even more recently, the Bank of England's Prudential Regulation Authority (PRA) issued a supervisory statement outlining due diligence for concentration risk on a single supplier, business continuity, and exit strategies.

Compliance with cross-border data transfers remains complex with adequacy arrangements, global privacy rules, and varying approaches taken by regulators. As data sovereignty regulations continue to evolve and expand to more countries and jurisdictions, organizations face the ongoing challenge of adapting their operations to comply with ever-changing requirements. PwC UK helps navigate these ongoing challenges for global firms grappling to become more personalized, customer-centric, and future fit digital banks, avoiding regulatory pitfalls.

Allen Terleto, Head of Global Partners and Ecosystem, Cockroach Labs said, "Legacy modernization initiatives have regained momentum as cost optimization and unlocking siloed on-premises data for Gen-AI readiness have been elevated to executive boardroom discussions, Our strategic collaboration with PwC UK provides comprehensive business and technology solutions across a broad range of financial services including banks struggling with mainframe modernization, payment systems mitigating operational resiliency risk, and cross-border fintechs challenged by data sovereignty regulations."

About PwC

At PwC, our purpose is to build trust in society and solve important problems. We're a network of firms in 151 countries with over 364,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity.

About Cockroach Labs

Cockroach Labs is a pioneering software company at the forefront of database technology, dedicated to delivering resilient and scalable database solutions to run mission-critical workloads for the world's most important businesses. The company's clients include Form3, Hard Rock Digital, and Shipt, Fortune 50 global financial institutions as well as retail and media industry leaders. With a mission to scale when others fail, Cockroach Labs is revolutionizing the way businesses manage their data with its innovative cloud native distributed SQL database, CockroachDB.