Snowflake Native App Framework Empowers All Developers to Join Industry Leaders like Capital One Software, DTCC, and Matillion in Building, Distributing, and Monetizing Apps Within the Data Cloud
06/27/2023 - 12:05 PM
Over 25 new Snowflake Native Apps on Snowflake Marketplace are driving revenue and extending data collaboration from leading organizations including Bond Brand Loyalty, Capital One Software, DTCC, Goldman Sachs, LiveRamp, Matillion, My Data Outlet, and more (as of June 27, 2023)
The Snowflake Native App Framework (public preview on AWS) is now available for developers to build and test Snowflake Native Apps, with distribution and monetization capabilities (public preview soon)
Snowflake Marketplace continues to advance, now offering exclusive content from Cybersyn and the ability to procure leading data and Snowflake Native Apps with Snowflake Capacity commitment
LAS VEGAS --(BUSINESS WIRE)--
Snowflake (NYSE: SNOW), the Data Cloud company, today announced at its annual user conference, Snowflake Summit 2023 , that the Snowflake Native App Framework (public preview on AWS) is now available for developers to build and test Snowflake Native Apps, with over 25 new Snowflake Native Apps now available for customers to install from Snowflake Marketplace . Snowflake Native Apps usher in a new era of data collaboration, enabling developers with the tools needed to create robust apps quickly with Snowflake's high availability and auto-scalability, while helping to eliminate security and privacy hurdles for customers because the apps run directly within their Snowflake accounts, unlocking entirely new revenue streams and enabling thousands of Snowflake customers to easily discover and install these apps — without having to move or expose their data.
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Snowflake Native App Framework Empowers All Developers to Join Industry Leaders like Capital One Software, DTCC, and Matillion in Building, Distributing, and Monetizing Apps Within the Data Cloud (Graphic: Business Wire)
The Snowflake Native App Framework gives Snowflake Native Apps providers the necessary building blocks to develop faster, deploy more easily, and operate more effectively with the performance, scale, and efficiency of the Snowflake platform . With Custom Event Billing (public preview) and on-platform monetization (general availability) through Snowflake Marketplace, organizations can then seamlessly distribute and monetize their apps without having to set-up cost-intensive billing systems. This native deployment and distribution model reimagines the traditional approach of copying data to apps, instead bringing the work to the data by enabling apps to run inside an end users’ existing Snowflake account. Customers no longer have to export or provide external access to their data, significantly accelerating the path to customer acquisition and adoption for providers.
“Every type of data application has historically required customers to move or copy their data and entrust it to third-party vendors, which is particularly problematic when customer data is highly sensitive. The Snowflake Native App Framework reimagines the status quo, enabling developers to bring their apps directly to their customer’s data, without that data ever leaving the customer’s environment,” said Christian Kleinerman, SVP of Product, Snowflake. “We’re making it easier, faster, and more efficient for developers to build and ship leading apps at scale, so they can focus on earning revenue from some of the largest companies in the Data Cloud, with Snowflake seamlessly taking care of security, privacy, and governance concerns.”
Over 25 Organizations Have Already Published Snowflake Native Apps Available Today on Snowflake Marketplace
Snowflake Marketplace already has over 25 new Snowflake Native Apps available today, and over one hundred providers are currently developing apps that span multiple industries and use cases. Leading organizations are building in the Data Cloud to easily bring unique insights to end users, from data clean room apps to apps supporting financial investment decisions, enabling end users to unlock value with just a few clicks on Snowflake Marketplace.
For example, The Depository Trust & Clearing Corporation (DTCC), the leading post-trade market infrastructure for the global financial services industry, is building Snowflake Native Apps in the Data Cloud to bring its models and user interface to more clients. DTCC is building both actual and hypothetical portfolios that their analysts and clients can leverage in Snowflake to model and predict scenarios, so clients are better prepared to navigate market events and associated risk.
“Snowflake Native Apps are an integral part of DTCC’s modernization journey, transforming how we enable our clients with enhanced access to our services, ultimately delivering greater market transparency, reduced risk, and increased operational efficiency,” said Lynn Bishop, CIO, DTCC. “By building with the Snowflake Native App Framework, we can transform how our clients access, share, and leverage data across a number of DTCC services through Snowflake Marketplace, further modernizing the financial services industry and fundamentally altering how users process financial data.”
Other organizations building Snowflake Native Apps include:
Bond Brand Loyalty: Bond's Snowflake Native App, SynapzeXi , is a customer intelligence solution for organizations looking to enable personalization at scale on their data in Snowflake. SynapzeXi brings Bond's customer engagement models and methodologies, proprietary benchmarks, and industry-leading IP directly to clients’ data, reducing the time required to stand up and scale personalization and offer optimization. SynapzeXi also creates and optimizes item and segment level offers for various marketing use cases using generative AI and advanced customer lifetime value models.
Capital One Software: Capital One Slingshot helps businesses optimize their Snowflake compute spend, and reduce waste and inefficiencies. Through the Snowflake Marketplace, customers can quickly onboard to a free trial of Slingshot, and start identifying their biggest cost drivers and areas of optimization to improve performance and drive tangible business value.
Goldman Sachs: Goldman Sachs’ Legend app, built with the Snowflake Native App Framework, combines the Goldman Sachs Financial Cloud for Data with its open sourced data platform Legend (github.com/finos/legend ) to generate business insights for clients, business partners, and engineers by sharing relevant datasets and allowing clients to join these with their own holdings data.
LiveRamp: LiveRamp’s Identity Resolution and Translation solutions create an accurate and durable people-based identifier that protects personally identifiable information (PII) and enables interoperability across the ecosystem. Identity resolution replaces single-touchpoint identifiers (hashed emails, third-party cookies, MAIDs, and CTV IDs) to consolidate consumer data fragments for better measurement, personalization, optimization, and audience modeling. Translation connects a customer’s data to a partner’s data through Snowflake by translating RampIDs into a common identity space, resulting in enhanced insights, analytics, and interoperability with a wide network of partners.
Matillion: Matillion's Snowflake Native App, Matillion Connector for Google Sheets , allows users to create and schedule data loading pipelines to ingest data directly into Snowflake from Google Sheets, automating data loading for data engineers and storing the data directly inside an end users’ Snowflake account for increased security and governance.
My Data Outlet: My Data Outlet built a Snowflake Native App for joint customers to simplify the systematic investment research process across many financial data sources natively in the Snowflake Data Cloud. Since launching its Snowflake Native App late last year, My Data Outlet has already secured licensing agreements with multiple Investment Management firms and generated significant growth in annual recurring revenue from Snowflake Marketplace.
Snowflake Marketplace Continually Advances with Exclusive Content And New Ways to Purchase Data and Apps in the Data Cloud
Snowflake Marketplace continues to scale as the first cross-cloud marketplace for data and apps in the industry with over 36,000 unique visitors every month. Over the past year, Snowflake Marketplace has increased providers with publicly discoverable listings by 66 percent (year-over-year as of April 30, 2023), with over 430 providers publicly discoverable (as of April 30, 2023) and more collaborating privately. In addition, Snowflake’s network effect measured by ‘stable edges’1 grew 84 percent (year-over-year as of April 30, 2023), and more than 25 percent of Snowflake customers have at least one stable edge (as of April 30, 2023).
Data content exclusively available in the Data Cloud on Snowflake Marketplace is also expanding with Cybersyn , a data-as-a-service company founded in 2022 by Coatue’s former head of data science Alex Izydorczyk, providing proprietary economic datasets for corporations, investors, and governments. Cybersyn has also launched two Native Apps that enable customers to benchmark eCommerce sales and acquisition performance and monitor the US financial industry.
To effortlessly tap into this expanding library of data offerings, Snowflake has introduced the Marketplace Capacity Drawdown Program (general availability), enabling customers to seamlessly buy data and Snowflake Native Apps with their Snowflake Capacity commitment. By enabling committed Snowflake Capacity to be used for Snowflake Marketplace purchases, organizations can now shorten lengthy procurement and contracting cycles like vendor onboarding, contract negotiations, and payment logistics. In addition, Snowflake is unveiling new capabilities that make it easier for customers to search and discover data through natural language processing on Snowflake Marketplace (in development), tapping into the power of generative AI to help all users connect to the relevant data they need faster.
Snowflake also announced new innovations that extend data programmability for data science, data engineering, and application development; advancements to its single, unified platform ; and more at Snowflake Summit 2023 .
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1 An "edge" is a data share between a Snowflake customer and a data provider. A “stable edge” is an edge that has produced at least 20 transactions in which compute resources are consumed and such consumption results in recognized product revenue over two successive three-week periods (with at least 20 transactions in each period).
Forward Looking Statements
This press release contains express and implied forward-looking statements, including statements regarding (i) Snowflake’s business strategy, (ii) Snowflake’s products, services, and technology offerings, including those that are under development or not generally available, (iii) market growth, trends, and competitive considerations, and (iv) the integration, interoperability, and availability of Snowflake’s products with and on third-party platforms. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under the heading “Risk Factors” and elsewhere in the Quarterly Reports on Form 10-Q and the Annual Reports on Form 10-K that Snowflake files with the Securities and Exchange Commission. In light of these risks, uncertainties, and assumptions, actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. As a result, you should not rely on any forward-looking statements as predictions of future events.
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About Snowflake
Snowflake enables every organization to mobilize their data with Snowflake’s Data Cloud. Customers use the Data Cloud to unite siloed data, discover and securely share data, power data applications, and execute diverse AI/ML and analytic workloads. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. Thousands of customers across many industries, including 590 of the 2022 Forbes Global 2000 (G2K) as of April 30, 2023, use Snowflake Data Cloud to power their businesses. Learn more at snowflake.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20230627551458/en/
Kaitlyn Hopkins
press@snowflake.com
Source: Snowflake Inc.
