Bengaluru, 14th October 2024 – Snowflake, the AI Data Cloud company, announced that Uni, a leading next-gen fintech company, has been leveraging Snowflake’s AI Data Cloud to create an integrated new-age data platform, helping them to launch newer applications, enhance customer lifecycle management systems, experiment and test new services, and support innovation in the credit industry. By leveraging Snowflake, Uni has centralized its data, enabling faster, data-driven decisions for leadership and business teams, leading to streamlining risk management, and creating personalized products tailored to customer needs.
Uni chose Snowflake’s AI Data Cloud platform because it offers a secure, single, unified, and simplified architecture to support various data workloads at scale. Today, with an integrated data platform, Uni can derive insights from multiple structured and unstructured data sources like credit bureau and risk rating reports, allowing them to perform end-to-end analytics centrally instead of collating different data in an Excel sheet and querying them, bringing down 2-3 days of effort to less than an hour. This has helped them improve their customer satisfaction score and promptly work on customer feedback.
Uni has over 70 microservices in the domain of credit management, each with its own database. Now, with Snowflake, setting up data pipelines for new applications takes less than five minutes, reducing the burden on engineering teams and allowing them to focus on more value-added functions. Uni can easily and securely manage reconciliation and regulatory reporting in real-time. For credit management offerings, Snowflake helps Uni understand customer preferences and improve their experience.
Uni is looking to leverage Snowpipe Streaming for operational ease and additional cost benefits in the future. Further, with Snowflake Data Clean Rooms capabilities, they intend to streamline the data management across various departments, such as marketing, engineering, and HR, and partners, such as NBFCs, helping create an anonymized, secure, and governed data sharing model that helps identify user patterns. This will allow Uni to build better cohorts for streamlined marketing communication and product innovation, ultimately driving customer satisfaction and retention. The company is also looking at leveraging AI for anomaly detection to detect and track improper cash flows and cash back to customers and identify fraud.
Sharing his experience, Abhra Dasgupta, Director of Engineering, Uni, said, “We have been working with Snowflake since our inception, and today, all our strategic business decisions are data-driven. With the AI Data Cloud, we can share data across different platforms securely and easily, driving innovation and faster go-to-market. We now have an enriched credit risk model helping us get deeper insights into our customer behaviours for our offerings, like the Paychek, PowerUp Money, NX Wave Credit Card, and other credit products. We also do our entire risk analysis and underwriting using Snowflake as our single data source.”
Highlighting the importance of the collaboration with Uni, Vijayant Rai, Managing Director—India, Snowflake, said, “The fintech industry in India relies heavily on data and insights to drive business growth. We are proud to have shaped Uni’s data strategy and collaborated on many of its first launches in the market. Snowflake’s AI Data Cloud platform has helped Uni be at the forefront of innovation and customer experience.”