Success stories
Fintech Fraud Prevention and Data Optimization using Snowflake
Challenge
A Fintech company faced challenges in aggregating large-scale data sets for optimizing customer acquisition costs and calculating product earnings. Their legacy data warehouse solution lacked processing power and struggled to combine multiple data sources efficiently. Scaling was difficult and expensive, while ensuring data security and compliance was crucial.
Solution
Migration of client data warehouse to Snowflake, integrated 20 external data flows in just three months, providing a single source of truth for their data.
Zero-Copy Cloning and Time Travel simplifying their data infrastructure and reducing manual work for data scientists.
Using Snowflake, client experienced improved scalability for processing data used in machine learning models, maximizing efficiency. Intuitive reporting dashboards and concurrent data access benefited users’ organization-wide without any slowdowns.
Results
Client gained a holistic view of users and saved approx. $3 million in potential fraud losses while securing approx. $100 million investment through proactive fraud prevention improvements.
Snowflake's Streams, Tasks, and analytics capabilities empowered to set up rules, alerts, and incremental data updates without aggregating the entire dataset, resulting in approximately 30% reduction in operational costs and approximately 40% increase in overall system performance.
By Leveraging Snowflake, team members had access to high-level reports, run large-scale queries, and work efficiently significant cost predictability led to approximately 20% reduction in infrastructure expenses, supporting rapid scaling and data experimentation for strategic decision-making.
Download the case study here!
Get in touch with us
Parkar Digital is a digital transformation and software engineering company headquartered in Atlanta, USA, and has engineering teams across India, Singapore, Dubai, and Latin America.