Harnessing the Power of Big Data for Financial Success
Globally, a little over 1.5 billion credit card transactions happen each day. That's a massive amount of data flowing from customers to financial institutions to vendors to government agencies. PVM partnered with a Fortune 500 financial services company that enables this money movement for thousands of financial institutions and millions of people and businesses. As a partner to this company, we processed over 12,000 financial transactions per second. When we talk about big data, this company is working with some of the biggest, and most protected data, in the world.
CATEGORY:
Commercial
The Bottom Line:
PVM helped a large financial company:
Reduce time to generate analytics results by 98%
Save days in this process, taking it from a week-long process to four hours
Increase query rates to more than 1 million records per second
The Challenge: Integrating Data Post-Merger
PVM partnered with Fiserv through a variety of data-driven projects as the company grew—most notably during a merger that brought multiple data sets together.
PVM was given the challenge of migrating and mapping data and analytics to serve the needs of the combined organization when Fiserv acquired First Data in a substantial merger. With all of this new data, Fiserv needed to ensure it was useful and able to contribute to future expansions, product launches, and improved customer-facing analytics. PVM engineers needed to make sure that not only was the data mapped correctly, but that was accessible for other business functions.
The Solutions:
Migrating & Mapping
Our engineers successfully migrated the platform into a new cloud environment, enabling future expansion to new markets with a significant reduction in fixed infrastructure costs. All of this was done while completing the projects with exceptional professional standards, on time, schedule, and budget.
Data Science & Analytics
Additionally, PVM performed data science tasks for Fiserv teams. PVM engineers curated data through the entire lifecycle—from creating performant data pipelines and building dashboards that allow the team to inspect and navigate the data to creating value-added reports sent to their issuers. As a result, PVM data scientists, in collaboration with the organization’s leadership, developed analytics that help drive national fiscal policy for the U.S. Government.
Development, Enhancements & New Architecture
Additionally, PVM enhanced the data platform for Fiserv, providing analytics and insights derived from the wealth of data gained through the organization’s transaction business. PVM engineers embedded with the organization’s engineers to share code and ideas to continually improve and streamline the product offering for continued value and growth.
RESULTS
As a result of this program, PVM engineered a new approach that increased performance capacity,reduced time to generate analytic results by 98% – from one week down to four hours – and increased query rates to more than 1 million records per second.
