Cloud enabled analytics for a Leading US Bank
Case Studies
Challenges & Solutions
Technical Environment
Results
Executive Summary
Client
Sub-Prime Lending Services
Industry
Banking, Financial Services, & Insurance
Business Problem
Sub-prime lending customer was looking for cost optimization as they have various applications running on different platforms. The client had a focus on loan recovery improvement by maximizing automation in their back office and data management. They needed a well-developed analytics platform to serve the whole organization with improved KPIs and a centralized data repository with high quality enriched data to serve as source for the analytics platform.
Outcome
New management dashboards enabled timely and efficient debt collection. Cloud migration of analytics environment and data automations removed barriers to business growth.
Challenges
- On-premise infrastructure had a high maintenance cost and data distributed across multiple sources and platforms.
- Business expansion was limited by the IT infrastructure.
- Partial automation of critical activities was effecting business outcomes and driving inefficiency.
- Loan recoveries were delayed by significantly leading to reduced profitability.
Solutions
- Migrated entire analytics to AWS cloud platform.
- Utilizing the AWS stack with Databricks for migration, cleansing, transformation etc
- Built a data lake using batch and real-time pipelines depending on the critical KPIs CI/CD pipelines.
- Developed dashboards to provide 360o view of the loan status at various levels.
Technical Environment
- Amazon Athena, Amazon S3, DevOps, AWS Lambda, Amazon Glue, Databricks, Elastic Search
Results
- Debt collection is estimated to increase by 7% after solution implementation
- Business achieved net cost reduction by moving to a properly sized cloud instance vs on-premises
- Automation enabled improved processing efficiency and timeliness of data presentation
- Business expansion no longer hampered by IT infrastructure