For Consumer Finance | Data Virtuality

WITH THE RIGHT DATA INTEGRATION, DATA WILL BE AN ENABLER!

Save time and cost with Data Virtuality for your data integration.

Digital transformation in the financial services sector requires the industry players to accept and adapt to new approaches to data access and management.

There are two main outdated approaches:

1. IT working with enterprise data warehouse and data mart along with ETL tools

2. Business processing the data manually with Excel

To name a couple of the challenges: Inflexibility of the IT department with long time-to-market cycles and lack of transparency, accountability, and auditability.

The solution to these challenges is Logical Data Warehouse which helps to close the chasm between IT and business and thereby save time by around 75% and cut costs by up to 70%.

CHALLENGES

Long time to market

The process of getting the data is so technical and complicated that only a limited number of people can do it (usually the IT or BI development department). That means, every time the data consumer needs the data they have to reach out to the IT/BI development team who then starts to prepare the data. And this takes so long that until the data consumer receives the data it is already outdated and/or not needed anymore.

Limited access to different data sources

Many financial institutions built their data warehouse systems when commercial data wasn’t as popular as they are now. The challenge is that the commercial data cannot be easily connected because this wasn’t initially considered when the system was built.

Uncleansed raw data

In the early days of data warehousing, many companies didn’t allow the cleansing of the raw data. That means if the quality of the data is bad the result that comes out is also bad or even wrong: garbage in, garbage out. In order to avoid that, everybody who uses the data cleans it in their own report respectively. Hence, there are several different versions of data truth out there.

No or limited access to real-time data

Real-time data now plays an essential role in financial processes. For instance, a loan application comes in from somebody who’s at the car dealer and wants to buy a car. For this kind of situation, real-time data related to this loan requester is crucial.

HOW DATA VIRTUALITY ENABLES YOU TO OVERCOME THESE CHALLENGES

VOICES FROM OUR CUSTOMERS

Fred Dunant

DMO Manager, Crédit Agricole Consumer Finance

'Data Virtuality is so easy to use that even our business analysts can use it and get the data whenever they need it. Before Data Virtuality only our developers could use the tool and the business analysts had to wait. Now that the developers as well as business analysts can use the solution, we are not only more efficient but were able to cut cost by 70%!'

READ THE FULL SUCCESS STORY HERE

DATA VIRTUALITY BENEFITS

SAVE TIME AND CUT COST

The development process can be cut to one month for which ETL would need around four months. In the long-term business users can work independently from the BI and IT departments and in their own pace. No more waiting times.

EASE OF USE

In Data Virtuality, no special technical expertise is needed. Only SQL. So even for business users it is a walk in the park to get the data they want.

FASTER GO-TO-MARKET

As data can be accessed by different user groups directly, internal processes are much more productive and efficient.

BETTER DATA GOVERNANCE

By providing a single source of truth, the use of governed data is promoted. With this approach, the fulfillment of data protection, regulatory, and compliance requirements for GDPR, HIPAA, CCPA, BCBS239, Solvency II.

ALWAYS GDPR COMPLIANT

Thanks to the virtual layer and real-time connection of Data Virtuality, you don’t have to store the data anywhere. Therefore, you are always GDPR compliant.

COMBINE HISTORICAL AND REAL-TIME DATA

Combining historical and real-time data helps to close the loop and reuse old data for operational purposes. For example, the development of interest rates can be easily seen.

RULE YOUR DATA

Whether you simply want to replicate your data or need real-time data and an SQL data modeling layer, we know the pains. We are here to help.

BOOK A LIVE DEMO

RELEVANT KEY FEATURES

A CENTRAL DATA MODEL

In Data Virtuality you can create and maintain highly flexible, central data models that can be adapted or reused for new/other regulatory reportings.

METADATA CATALOG

Data Virtuality’s metadata catalog enables you to keep track of the data collection chain. Depending on their permissions, your users can view all important information on the data (such as data origin, modifications, or data lineage) at any time.

200+ READY-TO-USE CONNECTORS

With more than 200 connectors, and the option to develop new ones in little to no time, you can instantly connect to and centralize different data sources.

JUST SQL

You can access and model all your data by using only one language: SQL. Because SQL is widely known by analysts, business users can easily get their own data to efficiently react to on-demand, ad-hoc risk management reporting requests.

BY ADDING THE VIRTUAL LAYER IN DATA VIRTUALITY, …

... you can ensure higher quality of data as you provide data from one single source of truth to all business users

... you can speed up time-to-market because of a highly agile platform.

... you can always be GDPR compliant as you don’t have to store the data anywhere thanks to the virtual layer and the real-time connection

CONNECTORS

Choose from 200+ connectors. We have the databases, web services and marketing platforms you need. Centralize all your data sources and connect them to your BI tools like Tableau, Looker or Excel. Can't find your connector? Simply request a missing connector. We are continuously developing new connectors at no cost.

SEE ALL 200+ CONNECTORS

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STRONG PARTNERS

Data Virtuality relies on a strong partner network with partners also specialized in the financial services sector such as Advanced Programs. Advanced Programs is a Dutch service provider founded in 1992 that offers IT and data solutions. They have been working closely with several big financial institutions to help them build and deploy agile and efficient data management environments.

RULE YOUR DATA

Whether you simply want to replicate your data or need real-time data and an SQL data modeling layer, we know the pains. We are here to help.

BOOK A LIVE DEMO