We provided robust infrastructure and a centralized data storage system to counter data-related issues.

About the Industry

The banking industry is known for its diversified portfolios.  In such a scenario, frequently changing consumer behavior, multiple regulatory frameworks, customer churn, and fraud are some of the major challenges for
the banking industry. However, advancements in smart technologies in the banking industry have brought many positive changes.

The Artificial Intelligence and Advanced Analytics solution has revolutionized this industry’s digital
journey. Similarly, the rising Business Intelligence and advanced reporting solution are bringing a positive shift in banking practices. Enhanced governance with advanced financial reform is enabling not only better services but also safety measures for the customers. To mitigate major challenges and roadblocks, the industry is looking for the deployment of AI-enabled smart solutions.

About the Client

Our client is a US-based multinational banking & financial firm. With a total employee strength of 1 lakh, the firm has offices in USA, Singapore, South Africa, Sri Lanka, China, Qatar, and Oman.

The company offers unmatched services of online money transfer, automated locking system, digital wallet, and smart debit/credit card. The firm has delivered exceptional service in the banking and credit sectors, for which they have won many accolades and awards.

The Business Challenges

We analyzed our client’s entire situation and identified some of the pain areas. The organizational challenges were as follows:

  • The organization was swamped with large amounts of data. Its management was getting difficult at an enterprise level.
  • The organization lacked a centralized infrastructure for data storage.
  • Due to under utilization of data, proper reporting and analysis results failed to be delivered.
  • A roadmap to leverage big data was direly needed.

The Business Solution

Detailed analysis of the challenges at the enterprise level took care of existing pain-points.

  • In the first phase, we made a thorough assessment of the client and their business requirements.
  • The RFP was prepared and aligned with the bank metrics and set parameters.
  • We devised the Data Lake strategy for our client. The Data Lake solution analyzed and managed the semi-structured & unstructured data and used them at an enterprise level for better analysis. The deployed solution helped utilize data in a broader perspective.
  • We analyzed the organizational data and prepared a Big Data Platform based solution.
  • Our expert professionals helped design the data-driven roadmap for future reference.

Key Results

  • We successfully deployed the Data Lake solution.
  • Overall organizational efficiencies were also improved.
  • The analysis of data became result oriented.
  • Cost-effectiveness for global center deliveries was achieved.
  • We successfully extract insights from semi-structured and unstructured data.

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