- Financial Services
Delivering a future-ready data strategy for a community bank
Overview
Addressing outdated systems and operational inefficiencies
A family-owned community institution in the banking sector was facing challenges related to their outdated legacy systems. These systems led to inefficiencies in internal operations and a fragmented customer experience, hindering their ability to deliver the high-quality service they are known for.
The client sought to improve their digital banking capabilities, streamline operations, and enhance overall customer satisfaction through a modern and integrated data strategy. Ensuring robust security and flexibility for future vendor solutions was also crucial considering the sensitive nature of banking data.
The bank aimed to create a unified data strategy that would replace outdated systems, modernize their data infrastructure, and enhance both internal operations and customer experiences. Their objective was to improve operational efficiency, boost customer satisfaction, and uphold the highest security standards. Ultimately, they sought a seamless, integrated data environment that would drive business transformation and support long-term growth.
Our Solution
A three-phase approach to strategic data platform modernization
To address the client’s challenges, OneSix applied its Data Platform & Technology Assessment methodology. The process consisted of three main phases: (1) assessing the client’s current data systems, business challenges, and data maturity; (2) designing future-state recommendations for their data architecture, governance, and data/IT organization; and (3) creating a roadmap, project plan, and cost estimates to guide the bank toward implementing the future-state solutions.
The recommendations included a combination of best-in-class tools and platforms to help the bank modernize its data infrastructure. These recommendations featured Snowflake for cloud-based data warehousing, Fivetran for seamless data integration, Matillion for ETL automation, and Power BI for advanced data visualization and reporting. These tools were selected to streamline processes, ensure security, and enhance business agility.
A key aspect of the project was the robust Discovery phase, which involved gathering data from more than eight departments across the organization, as well as interacting with their vendors. This thorough analysis provided valuable context, allowing for the development of actionable recommendations that were tailored to the client’s specific needs. Industry expertise and the ability to customize solutions based on the bank’s unique business model were instrumental in shaping these recommendations.
Results
Establishing a foundation for enhanced efficiency and customer experience
The project successfully outlined a clear vision for a modernized data infrastructure, emphasizing the adoption of best practices in data management and governance. This vision has positioned the bank to enhance both its operations and customer experience.
The client expressed appreciation for the speed and clarity of the process. They valued the expertise brought to the project, particularly the ability to deliver insights that were both relevant and forward-thinking. The client also highlighted how the recommendations helped them visualize their future data landscape, establishing a solid foundation for their next steps.
“You did such a good job putting this together in a way that's easy to digest. We know now where we need to head, and this is a great start for us.”
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