Finance

Advanced Analytics

Modern Data Platform for Niche Retail Banking Company

  • Payments, commercial finance, tax services, and consumer lending to under-served niche markets
  • Key supplier of prepaid Visa gift cards
  • Disbursed 8M prepaid debit cards as a part of Economic Impact Program during COVID

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