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Data Rocket for Financial Services

Data Rocket for Financial Services

Big Data Challenges for Financial Services

The explosion of data for banks and credit unions comes from everywhere, including point solutions, online application platforms, burgeoning marketing channels, and mobile banking data. Core providers like Jack Henry, FiServ and FIS can no longer be at the center of data management, and banks and credit unions need to plan for a future that leverages all the data available today, along with the platforms and data sources of tomorrow.

For many banks and credit unions, traditional core banking systems aren’t equipped to handle the volume and complexity of data generated by modern banking activities. As a result, many banks and credit unions are reconsidering their relationships with core providers, moving to core system-agnostic platforms that provide the flexibility and scalability required to respond to changing market forces. Data Rocket® is a data estate modernization solution that helps banks and credit unions wrangle data from multiple and complex data sources, into a modern data warehouse that can support:

  • Cloud-Based Infrastructure – Cloud-based infrastructure provides the scalability and flexibility required to manage large volumes of data, and allows you to run high volume data applications at scale without impacting your operational reporting infrastructure.
  • Data Governance – Introduce Practical Data Governance throughout the data life cycle with Governed Dynamic Ingestion, observability dashboards and streamlined data access and controls.
  • Data Integration – Integrate data from multiple sources, including legacy systems, third-party data sources, and new digital channels to provide a complete view of the customer.
  • Advanced and Real-Time Analytics – Waiting for data to be pulled from multiple source systems is not an option. Near real-time and real-time data querying from your cloud data warehouse lets you use advanced and real-time analytics to make informed decisions about products, services, and customer needs.
  • Artificial Intelligence and Machine Learning – Mine and expand the value of your data with artificial intelligence and machine learning that analyzes data and provides new insights.
  • Data Security – Protect your data with leading-edge encryption, access controls, and monitoring of data usage.

Are you ready to get started building a future-ready data management strategy? Request a complimentary consultation today.

Data Rocket® for Financial Services

Data Quality Watch

You can’t manage Data Quality if you can’t measure it. Data Quality Watch provides the foundation for an effective Data Governance program with automated profiling, out-of-the-box data stats and anomaly detection capabilities. Data measurements create indicators on Completeness, Accuracy, Consistency, Validity, Timeliness, Popularity and Integrity.

3rd Party Data Accelerator

Data Rocket's 3rd Party Data Accelerator provides predefined views linking third-party datasets with customer data and dashboards that slice and dice internal and third-party data to reveal actionable insights. Watch how to use a dashboard to understand and grow mortgage marketshare here.

Mastered Data Framework

Mastered Data Framework streamlines mission critical data by creating a Golden Record throughout the organization, with an accelerator built on Talend Data Quality and Stewardship. Out of the box capabilities include mastering household account holders across business lines.

Audit and Control Framework

Data Stewards can perform targeted troubleshooting to identify and remedy suspect data at the source. Built-in data versioning provides data stewards the ability to go back in time to any point in the data history to pinpoint data inaccuracies.

Governed Dynamic Ingestion Framework

The Data Rocket Governed Dynamic Ingestion Framework provides predictable, highly visible ingestion using the Talend Data Management Platform, with managed CDC, preliminary data cleansing and creation of data history for each changed in source data.

AI/ML Framework

ML Engine Accelerator productionizes the execution of AI/ML models into the Snowflake Data Cloud and provides an ML dashboard for self-serve insights.

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What You Get in 90 Days

Know Your Customer
Gone are the days when financial service institutions could depend on lifelong customers. As competition increases across every sector and size of financial services, superior customer service has never been more important. Keeping customer data safe and using curated insights to proactively deliver the services your clients need will help you attract new business and grow the business you have.

Traditional data and analytics solutions are unable to leverage an expanding ecosystem of data sources at scale, leaving financial institutions unequipped for daily operation and unprepared for future growth strategies. Even if a bank or credit union is ready to invest, data estate modernization with a full-scale data architecture and business analytics solution can be overwhelming and expensive for small and mid-sized institutions. 

Data Modernization for Banking, Insurance and Capital Markets

Passerelle Data Rocket verifies the value and opportunities in data modernization, with industry-leading technologies, low investment overhead and proven support, showing how quickly data creates value with a modern cloud-based architecture. Within three months, Passerelle can help you create an infrastructure and blueprint to answer mission-critical questions such as: 

  • Can my data estate predict customer attrition?
  • What predominant attributes are associated with customers who leave and the products they used?
  • Which customer segments, products, services, and channels are experiencing the healthiest growth?
  • What data assets and strategies are available to attract new customers?
  • Who are the best candidates for cross-selling products and services and how do I quantify lift and performance?
  • Can I spot competitive threats within my customer base and take early action?
  • How do I understand the overall health of my data estate? How do I get observability into who in my organization is using data, and what data is being used?

What questions could data help YOU answer? Request a complimentary consultation today

Camden National Bank + Passerelle

Camden National Bank (CNB) is a nationally recognized bank that serves customers throughout New England. CNB knew that in order to keep up with increasing competition and meet customer demands, it needed to update its data architecture to quickly respond to changes in the market. Using Data Rocket, CNB has streamlined its data architecture, unlocking insights and realizing new commercial banking opportunities with third party data sets. Camden National Bank Vice President Josh Nash shares how Data Rocket has impacted Camden National Bank in this short video testimonial.

Data Rocket for Financial Services

How Can Passerelle Data Rocket Help You?

Data Rocket empowers data democratization – using Talend to connect to a source system, land the data in Snowflake, do light processing on the data, and create a PowerBI or Tableau dashboard delivering powerful insights using your data. With uniform, trustworthy data, Data Rocket™ provides the comprehensive customer insights and the predictive analytics you need to make informed, proactive decisions. Code-free tools and pay-per-use data architecture allows you to maximize your IT resources and realize the value in your investment. Would you like to learn more? Contact us today for a free consultation.

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