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Operationalize Data Sharing at Scale

With a centralized data platform, financial services and insurance organizations can unlock the type of insights they need to succeed. But legacy, on-premises infrastructures need to be augmented or even replaced with a centralized data platform in the cloud in order to make it happen.

Data centralization brings together critical data sources into one place so it can be more effectively managed and accessed.

Data Platforms for Financial Services

Top Use Cases

Optimizing conversion rates with personalized credit and insurance offers presented in real time.
Improving retention rates by empowering financial advisors to reach out to at-risk individuals.
Increasing customer lifetime value with real-time cross-sell/up-sell offers for logged-in users.
Building sticky financial instrument products for high-net worth customer segments.

Top IT Challenges

Outdated legacy systems that are costly and cumbersome to use and scale in real time.
Stakeholder reluctance around data sharing and centralization.
Siloed data stores that compromise customer experience and product innovation.
Complex data sources that derail governance.
Lack of experience with modern data platforms.

Data Platform Accelerators from NorthBay and AWS

When it comes to using data to drive growth and profitability, many established financial services and insurance providers know they need to keep up with their younger fintech counterparts. As a result, line-of-business are leaning on IT to deliver the insights they need from an ever-growing number of data sources.

Data Platform Accelerators from NorthBay and AWS are a unique and proven set of processes and best practices that are purpose-built to speed up time-to-value.

With NorthBay Data Platform accelerators, IT teams can:

Build a data-sharing culture

Transform your operations

Modernize your infrastructure

Remove risk every step of the way

Watch this 3-minute video to learn more about NorthBay and AWS Data Platform Accelerators.

NorthBay Accelerators for Planning, Building, and Scaling Data Platforms

Gain approval/get projects greenlighted with JAM Sessions.

Build a strawman data platform in just 10 days when your team works alongside our AWS experts in this low-cost or no-cost immersive workshop.

Plan for data collaboration and democratization with Reference Architectures.

Build a strongman foundation for data management, governance, and sharing in a centralized environment for current and future needs.

Scale up quickly with NorthBay Data Engines.

Speed up data source onboarding and access with our data quality engine, data ingestion and orchestration engine, and rules engines.

Operationalize and optimize for performance and cost.

Take advantage of NorthBay’s Managed Services offering for early-stage support, and/or leverage our proprietary Operations Checklist comprised of 150 mission-critical tasks for running the data platform.

Unleash innovation with game-changing insights.

Add new data sources at scale and leverage Amazon Bedrock, ChatGPT or other AI/ML technologies to develop features and products.

NorthBay Achieves AWS Managed Service Provider Designation.
> Press Release

How to Solve the Data Quality Conundrum

Adding new data sources to legacy data warehouses is a complex and time-consuming process (six-plus months, on average, for each new source). Purpose-built for Amazon Web Services analytics environments, the NorthBay Data Quality Engine streamlines the data ingestion process by:

Automatically auditing existing datasets
Identifying relationships between different datasets
Implementing custom rules for data consistency
Ensuring easy integration with AWS analytics
Detecting anomalies in real-time

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The Data Quality Conundrum in Financial Services

CASE STUDY:

Success Story:

Modernizing and Managing Grow Credit’s Applications and Operations on AWS Cloud

Learn how we helped Grow Credit embrace containers, microservices, and serverless — and why they rely on us for ongoing management of their AWS Cloud environment.

Read the Success Story

AWS: The Foundation for Analytics and Innovation

AWS offers more data services than any other cloud provider, making it easier to aggregate and centralize data, maintain data lineage, and store any type of data at scale.

NorthBay has been 100% AWS-focused for nearly a decade, and we’ve worked hand-in-hand with AWS Professional Services to implement enterprise-wide data lakes and analytics solutions for leading financial services firms.

AWS: The Foundation for Analytics and Innovation

JAM Sessions By Use Case

NorthBay JAM Sessions are 10-day, no-cost or low-cost immersive workshops where your team deep dives with our AWS experts. We work hand-in-hand to stand up a live AWS instance with your data and your use case.

By planning, architecting, and developing a rapid prototype solution together with NorthBay, you can fast-forward your data platform initiative to tackle the most in-demand use cases.

Gain approval to get the project greenlighted.

Showcase the value of centralized data to stakeholders.

Become confident that your people can be successful in the AWS Cloud.

Know that your existing team can run the platform at scale.

Optimize conversion rates.

Build a prototype of a personalized online application experience to optimize conversions.

Customers continue to expect their financial services providers to understand their specific situation and provide them with personalized offers at their point of need.

By combining internal customer datasets gathered through multiple channels, financial services organizations can optimize conversion rates with personalized credit and insurance offers presented in real-time.

Improve the efficiency of the customer journey by developing prospect segments most likely to convert
Capture website user behavior in real time, and trigger personalized communications to prospects
Send customized messages to registered users who don’t complete applications

JAM Session Curriculum Overview

Participate in 10 days of immersive collaboration with the NorthBay team
In a sandbox environment, Use your data to learn quickly, conduct POCs, and identify and mitigate potential blockers
Execute against a high-level architecture
Develop a business case
Set daily goals and conduct end-of-day retrospectives to measure progress

Qualified institutions are eligible for funding from AWS and NorthBay to offset a portion of this investment.

Improve retention rates.

Build a prototype of solution that empowers financial advisors to reach out to at-risk individuals.

Consumer expectations for experiences with their financial services providers are at their highest level and constantly increasing. In fact, recent studies reveal that more than 50% of banking customers would consider switching to a bank that offers better money management features. And in times of economic uncertainty, keeping customers from going elsewhere is a top priority.

By bringing in sample data from various source systems (CRM, Web, etc.) and triggering early interventions based on anomalies, financial services organizations can:

Create a 360-degree view of customers to help with alerting and initiating interventions
Identify friction points and create more personalized experiences
Enable advisors to proactively reach out to at-risk customers with compelling offers

JAM Session Curriculum Overview

Participate in 10 days of immersive collaboration with the NorthBay team
In a sandbox environment, ingest sample data from multiple sources and perform basic ETLs to unify the data
Execute against a high-level architecture
Develop a business case
Set daily goals and conduct end-of-day retrospectives to measure progress

Qualified institutions are eligible for funding from AWS and NorthBay to offset a portion of this investment.

Increase customer lifetime value.

Build a prototype of a solution that surfaces real-time cross-sell/up-sell offers for logged-in users.

While financial services providers know they need to get closer to customers, many leaders are concerned they lack sufficient data analysis capabilities. By leveraging click-stream data from logged-in users, financial services organizations can:

Identify and connect with the high-value or high-net worth customers earlier in their customer journey
Build predictive models for customer behavior insight
Create connected experiences across the customer lifecycle to bridge cross- and up-selling products

JAM Session Curriculum Overview

Participate in 10 days of immersive collaboration with the NorthBay team
In a sandbox environment:
- capture data from the click stream data
- show real-time behaviors and insights on a dashboard
- conduct proactive customer service outreach
Execute against a high-level architecture
Develop a business case
Set daily goals and conduct end-of-day retrospectives to measure progress

Qualified institutions are eligible for funding from AWS and NorthBay to offset a portion of this investment.

Develop new products.

Build a prototype of a platform scrapes data from external sources and delivers insight into new product innovation.

Garner insight for new product innovation and relevance optimization
Develop products targeted to high-net worth customer segments
Create connected experiences across the customer lifecycle to bridge cross-sell and up-sell products

JAM Session Curriculum Overview

Participate in 10 days of immersive collaboration with the NorthBay team
In a sandbox environment:
- Scrape data from a number of website properties and other digital sources
- Cleanse the data and identify user profiles based on certain metrics
- Gain insight from user behavior to devise and test new products
Execute against a high-level architecture
Develop a business case
Set daily goals and conduct end-of-day retrospectives to measure progress

Qualified institutions are eligible for funding from AWS and NorthBay to offset a portion of this investment.

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