Created a data lake on AWS which enabled the client, a major lender focused on secured retail lending, to conduct their digital and analytics transformation journeys.
Challenge
- Lack of actionable data: The client had multiple applications for loan origination and loan management. However, there was no centralized data repository which could be used for analysis.
- New data sources: As the client was modernizing processes, they had integrated new applications like mobile and web applications, which are difficult to integrate with other data sources.
- Readiness for digital: The client was working towards digitizing operations and wanted to on-board and manage customers digitally. However, the current data system was not ready for the digital transformation.
Solution
- Designed and built a data lake to integrate multiple modern and traditional applications together. Created multiple transformation and validation rules to ensure interoperability between data systems.
- Created a micro-services based infrastructure for data integration – leading to a state where new integrations are easy to execute.
Impact
- Digitization: Created a data lake which enabled the lender to transform the way they sourced and managed new customers. The data lake also enabled the lender to start digital on-boarding as well as digital co-lending.
- AI Transformation: Data lake enabled the lender to start on an 18-month journey of analytics transformation. The lender leveraged the data to automate reporting as well as create multiple models for risk management and account management.
