Prominent Regional Bank Launches Data Warehouse as a Service on Snowflake
Customer's Challenge
One of the leading financial institutions in the Midwest sought to create a revenue-generating data application that its customers could leverage to access their data for self-service analytics. Wanting to create a separate revenue stream using their long-held data but with no simple way to share that data, they needed a solution that would allow them to securely share their data directly and effectively.
phData's Solution
phData’s data engineering team created a direct sharing solution between the financial institution and its existing Snowflake customers, providing each customer with their own Snowflake data warehouse and integrations with third-party machine learning products to analyze portfolios.
Results
By the end of the engagement, the customer had added several new revenue streams with its data sharing product and created additional profits with value-added machine learning data.Â
The client now has a foundation to sell more data in the future while providing a valuable service to its customers — all while keeping in line with industry standards for security and data quality.Â
The Full Story
A leading investment bank in the Midwest had customers who wanted to pay for access to their vast treasure trove of data but needed an efficient, secure way to deliver it to them.
The client was already using Snowflake as its data warehousing service and wanted to leverage Snowflake’s data sharing capabilities to deliver data to its customers. However, they needed help from someone with Snowflake expertise to build out their architecture and align their account with best practices surrounding data sharing.
phData then performed a data engineering engagement, designing and building a direct data sharing solution with existing Snowflake customers. phData also created a templated solution to allow bank customers to quickly and correctly set up a Snowflake account to be used with the data shares.
phData focused on utilizing our Snowflake expertise to ensure best practices were maintained surrounding data ingestion, transformation, data quality, monitoring, and security. We also built integrations with third-party machine learning products to analyze portfolios and sell the analysis to customers as well.
Why phData?
The customer chose to work with phData over other vendors because of our team’s proven track record working within Snowflake. As Snowflake’s 2023 Partner of the Year, phData has cemented itself as the premier vendor of all things Snowflake.
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