Reimagine Banking – End-to-end Digital transformation

The Challenge

The client was facing several challenges that were impacting business. First, multiple tenured products were nearing expiration in retail banking with low buying prospects. The small and medium business division had no centralized information. Without access to a 3600 customer view, sales and service agents were finding it difficult to cross-sell and upsell products. While this affected organic growth, the existing siloed systems were also unable to support Mergers and Acquisitions (M&As). Timely and accurate data was seldom available to generate in-time regulatory compliance reports. Finally, the situation impacted the business as higher costs were paid per compute cycle.

An enterprise solution to address these issues would take around three years to implement – time that the bank simply did not have. Therefore, they wanted a partner who could help them with a quick turnaround of the situation.

The Solution

The SLK team came on board and focused on business, architecture, and data consulting. Our assessment resulted in a solution design that would enable superior customer service and predictive analysis. The solution had the following components:

• Master Data Management (MDM) – 10+ source systems in retail and lending were integrated
• Data Governance and Quality – all the source systems were maintained using DQ rules for the data quality and integrity
• Omni Channel Data Foundation – developed a 360° view to manage the customer-account relationship
• Data Lake, Real-time Operational Data Store (ODS) – established the real-time updates from legacy sources using Informatica power exchange and Cassandra ODS
• Data as API – 30+ real-time API services using Kafka for digital, salesforce, and fraud or risk channels

Technology used:

• Real-time data pipeline
• Kafka Hadoop System
• Hortonworks | Cloudera
• ETL: Informatica PowerCenter, Oozie, Power Exchange, Sqoop
• Data Storage: Cassandra, Hadoop