Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

FIS: Accelerating Digital Intelligence in FinTech: Spark Summit East talk by Aaron Colcord

628 views

Published on

In 2017, 60% of the US population will be a digital banking user. The challenges to meet the demands of a more engaged customer is increasing as the banking experience becomes less formal and easier to deliver. Building a better customer experience starts with how you handle your data to leverage accountable, actionable analytics. To take this on, FIS had to overcome the challenge posed by increasing data volumes and data velocity, enterprise level operational complexity and requirements, and work with antiquated traditional techniques. Within a year we transformed to Apache Spark and Databricks, providing thousands of financial institutions the ability to build better relationships with their customers by understanding the behaviors and interactions in digital banking.

Published in: Data & Analytics
  • Be the first to comment

FIS: Accelerating Digital Intelligence in FinTech: Spark Summit East talk by Aaron Colcord

  1. 1. FIS Global Accelerating Digital Intelligence in FinTech Aaron Colcord Director of Engineering,Data and Analytics
  2. 2. Who is FIS Global? • One of the largest global FinTech companies • Customers are banks and credit unions • Ecosystem of products and services built around core banking • We’re selling to the captive audience of the install base • A FinTech startup’s dream • We’re FIS Digital Finance, Mobile Data & Analytics
  3. 3. Our expectations have shifted subtly over time Digital Transformation Journey We are all Agents of Transformation We are all on a digital transformation journey The way we understand the capabilities We’ll be talking about what we’ve learned along the way
  4. 4. The Evolution of Banking "financial institution," late 15c., from either Old Italian banca or Middle French banque (itself from the Italian word), both meaning "table" (the notion is of the moneylender's exchange table), from a Germanic source (compare Old High German bank "bench"); see bank (n.2).
  5. 5. Digital Banking Adoption
  6. 6. Banking Behavioral Shift 6xmore Digital Interactions 9xmore Digital Interactions Online + Mobile Online + Mobile Branch Branch + ATM
  7. 7. Data Enhancing Relationships • The Uberization of retail banking is really difficult • Thwarted by legacy systems and thinking • Data is key to getting us from here to there
  8. 8. GOALS 1 2 3 Deliver and expand business data Adapt data needs quickly Transform and grow data competency
  9. 9. CHALLENGES ONE Technical Debt TWO Internal & External Resistance THREE Security, Compliance & Regulation
  10. 10. VOLUME • VELOCITY • VARIETY Volume VelocityVariety THE 3 V’s
  11. 11. VOLUME • VELOCITY • VARIETY Volume VelocityVariety
  12. 12. VOLUME • VELOCITY • VARIETY Business Growth, Proliferation of Devices,Higher Engagement
  13. 13. VOLUME • VELOCITY • VARIETY
  14. 14. VOLUME • VELOCITY • VARIETY
  15. 15. VOLUME • VELOCITY • VARIETY
  16. 16. VOLUME • VELOCITY • VARIETY
  17. 17. VOLUME • VELOCITY • VARIETY
  18. 18. VOLUME • VELOCITY • VARIETY Volume VelocityVariety
  19. 19. VOLUME • VELOCITY • VARIETY
  20. 20. VOLUME • VELOCITY • VARIETY
  21. 21. VOLUME • VELOCITY • VARIETY
  22. 22. 4. VOLUME • VELOCITY • VARIETY
  23. 23. VOLUME • VELOCITY • VARIETY
  24. 24. VOLUME • VELOCITY • VARIETY Processing ginormous amounts of data with much more being produced
  25. 25. VOLUME • VELOCITY • VARIETY Increasing Expectations, new verticals, flexible data Volume VelocityVariety
  26. 26. VOLUME • VELOCITY • VARIETY
  27. 27. Benefits Merging known techniques with new technology is not impossible. • • • Data has potential, find it! • • • Technologies exist to solve big problems.
  28. 28. Customer Solution • Comprehensive capabilities through a complete platform • Diverse user experience • All built on the same framework • Leveraging bank grade infrastructure and services • Interfacing through pre-existing as well as custom integrations
  29. 29. Thank You.

×