Banks have leveraged Fintech & NBFC partners to grow their loan books, savings accounts, credit cards, merchant accounts and other offerings. The business model has matured as RBI released multiple circulars & directives where it clarified its views & expectations. During this journey customer data started by residing with the Fintech / App provider and has since moved into the Banks and NBFCs infra / cloud.
While moving a Fintech Partners Loan Origination or Card Management system to a Technology Service Provider or Outsourcing model has provided a level of control & know-how. The expectation that Banks own the Customer relationship and all aspects of it (Data across KYC, Transactions or Complaints) requires deep data integration with the Fintech partner's technology. Unlike integration with Core Banking or Treasury system which are tightly coupled and rely on mature Change Data Capture solutions like Oracle Data Guard, Fintech partners have used AWS, GCP, Azure and a range of technologies. At the database level a bank had to integrate with MSSQL, MySQL, Postgres, MongoDB, DynamoDB & Elastic for one co lending Partner. Consider integrating with multiple co lending or co branding or neobank partners to understand the scale of the problem.
What is the solution?
• Building a holistic fintech partner data platform that integrates, validates and reports based on these sources
• Data Integration that supports varied data sources : Structured, Unstructured, CDC, Scheduled / Bulk load and CSVs
• Data Validation that reports missing data, missing fields, dummy data submissions (email ids like abcd@gmail.com or mobile numbers like 99999 99999)
• Data Transformation that supports integrated view across partner with support for SQL and data science pipelines in Python
• Data governance layer that catalogues and provides lineage across the lifecycle
• A modern data stack that does not come with huge license fee, supports cost effective storage and scalable compute to leverage the modern cloud
If you leverage multiple fintech partners and want to integrate and analyze your customer data across co lending, neobanking, co branding and other new age business models Contact Drona Pay
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