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Regional Banks Find Easy Access to 3rd Party Data Sets with Snowflake Data Marketplace and Passerelle

With the launch and growth of the Snowflake Data Marketplace, Snowflake customers can now access 3rd Party Data with the click of a button – and Passerelle has predefined data sets and use cases to further accelerate the process. 

What is the Snowflake Data Marketplace?  

The Snowflake Data Marketplace provides access to 3rd party data sets in financial services, healthcare, public sector, retail and media and advertising. The platform currently has more than 650 live, ready to query data sets from more than 175 third-party data providers. Snowflake customers can access and query directly from their Snowflake accounts, eliminating the cost associated with traditional ETL processes. Data is updated automatically, in real time.

What Can I Do with 3rd Party Data? 

The Snowflake Data Cloud eliminates the cost and time requirement of traditional ETL of 3rd party data.  With direct, secure access from a Snowflake account, data does not have be ingested or transformed – it is available directly through the Snowflake Data Marketplace. The ease of use is revelatory for organizations that lacked the bandwidth in their data ecosystems – or simply didn’t know how to get started.  

3rd party data enriches internal data sets with granular data about customers, or contextual data about the marketplace. Banks and credit unions can discover, on a zip+4 level, the average income, mortgage, and investable assets, in order to identify prospects that look like their best customers. Those insights empower marketing departments to launch highly-targeted campaigns, guiding outreach efforts across business lines.  

How Does Passerelle Accelerate Use of the Snowflake Data Marketplace? 

While the Snowflake Data Marketplace provides a trove of 3rd party data sets, finding the right data set to answer specific business questions can be time consuming. Once a 3rd party data set is identified, a data scientist must isolate the relevant data within the set. Passerelle helps by providing in-depth knowledge of the Snowflake Marketplace. We know what datasets are available – and at what cost – for specific regional banking use cases. 

Passerelle has developed IP to help accelerate time to value, including:  

  • Pre-defined views to link Marketplace Datasets with customer datasets  
  • Pre-defined dashboards that slice and dice First Party with 3rd Party to reveal actionable insights  
  • Pre-defined AI/ML model that leverages Marketplace Datasets & customer datasets in an ML Integration Framework, automating machine learning and AI modeling in the Snowflake Data Cloud.  

With accelerated architecture in place, organizations of any size can leverage 3rd party data sets in Snowflake’s Data Marketplace to start making better business decision. Ready to learn more? Contact us today.  

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