Finance
Advanced Analytics
Modern Data Platform for Niche Retail Banking Company
- Innovative banking as a service provider and key supplier of prepaid Visa gift cards, managing $7.6M+ in assets
Business Need
- Self-service data platform that provides data, when needed, as well as ad-hoc analytics into the data
- Empower the business, giving control of data
- Modernized data platform allowing agility and scalability, meeting business needs
- Ability to scale with upwards of 20B rows of data
- Trustworthy data and consistent terminology to find trusted, accurate data
- Enterprise solution for team decision-making collaboration
- Adhere to risk and governance regulations
Challenge
- Lack of timely data insights for decision making
- Unable to drill into existing reports for insights
- Limited resources on BI team led to long backlog for new reports (6 months – 2 years) – often no reports get built at all
- Legacy systems and architecture in place
- Data coming from multiple different systems without a holistic view
- Lack of data governance and duplicate efforts with various groups creating their own manual reports
- Lack of enablement with better use of data
- Business does not trust the data they have is accurate
Solution & Results
- Implemented an end-to-end modernized data platform, allowing:
- Data ingestion: Optimized ETL engine to data lake
- Data lake: Data warehouse as a service for storage and analytics
- Data governance/quality: Created active data governance framework to pursue available, usable, trusted, and secure data to grow revenue, mitigate risk, and lower cost
- Easily define, discover, measure, quantify, and collaborate on all data
- Analytics: Enabled instant self-service insights, eliminating the reporting backlog queue of 2 years
- Increased marketing and sales efforts, resulting in increased revenue
- Optimized onboarding of new processors