DataSeers created a single system to provide the only data solution a financial services company needs.

Business Challenge

The global market for prepaid cards is expected to reach 3.6 trillion dollars by 2022. Much of this growth is fueled by the arising need for financial inclusion of unbanked consumers, increasing volumes of online transactions, and the demand for cost-effective payment solutions. Such explosive development comes with plenty of challenges.

The industry continues to be plagued with problems when it comes to back office data management. Prepaid cards generate a tremendous amount of data and that data needs to be linked and analyzed very quickly. Typically, companies use traditional BI systems where data is ingested, analyzed, and presented in traditional data marts, but this process is slow and often leads to erroneous results. Another factor complicating the prepaid landscape – there is not a single system that can handle all verticals of a payments business i.e. reconciliation, compliance, fraud, and analytics. Companies must therefore replicate data within multiple systems to address all these needs, which creates trust issues surrounding the data.

Solution

DataSeers has created an appliance offering aimed towards the financial services industry. FinanSeer sits on-prem, behind a firewall, and ingests data from various data sources such as payment card networks, processors, core banks, IVR, and websites and provides a single homogenized source of information that is available near real-time via a massively parallel architecture provided by HPCC Systems®. The appliance is PCI/PII compliant and can be deployed as small as a three node cluster and as scalable as the data requires.

The current solution is very simple: files arrive in the landing zone and within seconds, the files are sprayed and ingested into Thor. DataSeers then applies data profiling algorithms to homogenize and clean the data and output any errors with the imports. This information is sent to Elastic and Kibana via a built in python plugin and is made available to ROXIE queries for external interfacing. With third party plugins and webservice APIs, clients can also connect to the appliance from their business applications. With this elegant solution, FinanSeer becomes the only data solution a company needs.