The banking industry is leading the charge to harness the power of data.

BANKING CASE STUDY

Business Drivers

The Banking Financial Services and Insurance (BFSI) industry continues to push for greater data visibility and transparency — aiming to harness the power of data for its customers. Benefits for BFSI companies include: Huge reductions in transaction times, and greater access to services.

Digital Transformation

Solution to harness the power of bank’s data

Storage Duplication

Reduced storage requirements significantly

Speed of Decision Making

Quicker access to relevant data across the business

Data Efficiency

Eliminate redundant and obsolete data

Scalability

Move to a cloud-based solution providing elasticity and agility

Single Source of Truth

Data on a single platform accessible across the business

"Information is the oil of the 21st century, and analytics is the combustion engine."

Peter Sondergaard
SVP Gartner Research

RESULTS

Decision Criteria

Our client based their decision of a data analytics solution provider on three criteria: Expertise, Trust, and ROI. At NextPhase.ai, we are able to meet and exceed these criteria for BFSI clients and other industries.

Technical Expertise

Develop and execute on specific Industry and Functional Use Cases

Trusted Advisor

Build rapport across multiple teams and collaborate to drive the right strategy and execution

High Quality ROI

Significant and measurable ROI that proves added value

SOLUTION

What We Did

Fundamentally, we changed the way the client stored, accessed, and managed data. The result was a cloud-based data storage solution that housed all data in a single location, while allowing each client business unit to directly access the data they required. Plus, because it’s cloud-based, security, accuracy, and management were greatly increased.

NextPhase Expertise

Highly-skilled experts on Snowflake platform with key industry knowledge of banking

NextPhase Advisory

Migrate and manage ongoing requirements of data analytics solution, strategy, approach, and execution of the initiative

Business Outcomes

Technology and business outcomes, aligned with the strategic vision and roadmap

RESULTS

Business Outcomes & Value Creation

Immediately, our client saw cost savings and faster access to data across all lines of business. Over time, the client discovered a fundamentally better work experience for its employees, business units, and most notably, for its clients. Data and analytics that were previously inaccessible, had now become accessible. The result is increased revenue, lowered costs, better customer experience, and and improved business operations.

70% Cost Savings

Substantial cost savings and positive revenue impact

Agility

Greater flexibility for clients and internal bank decision makers, with quicker access to relevant and accurate data

Scalability

Centralized data analytics solution with real-time ability to scale as business demand requires

Use Case Complexity

Ability to develop a much broader set of strategic use cases across the business

Self Service Platform

Autonomous access to a centralized data model leveraging Snowflake platform

Ongoing ROI

Immediate cost savings and transparent future ROI

CONTACT

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