Integrating financial data with VantageCloud on AWS

Data integration improves operations

Multinational financial services operations experience significant challenges in regional and local regulations, mixed currencies, geopolitical environments, and even languages. The challenges pose data acquisition, integration, and harmonization obstacles—particularly when sourcing data from hundreds of core banking systems with data in varying formats, time zones, and languages. Moving from batch to real-time processing can represent significant benefits to global operations and customer experience. Raiffeisen aims to draw on these benefits to become the most recommended financial services group in its markets.

“Everything we do is to facilitate immediate confidence in the banking products our customers use,” says Tattersall. “That confidence comes from customers seeing a transaction immediately when it happens, quickly getting approval for a mortgage, or understanding their financial matters. That’s impossible without integrating data from our nearly 20 million customers and hundreds of banks and operating environments while harmonizing the data.

"Integrating data on a daily basis into a single business model allows us to consistently answer questions with all the data.” 

Secure, scalable cloud analytics with Teradata VantageCloud on AWS

Raiffeisen has seen data volumes and the need for analytics expand due to geopolitical events within its operating area, such as the war in Ukraine. Visibility into global markets requires platforms that provide greater flexibility, agility, and speed to unlock data across the enterprise.

Raiffeisen recently migrated to Teradata VantageCloud on AWS to unlock data with granular detail in a flexible environment that’s easy to manage, trusted, secure, and cost-efficient. By moving from on premises to VantageCloud, Raiffeisen gains a scalable and flexible cloud analytics and data platform where trusted data is achieved for its 250 bank operations.

“With more than one million queries per day, we have a large application with a lot of complexity,” says Tattersall.

Raiffeisen is also modernizing to support streaming data from its hundreds of core banking systems.

“With cloud modernization, we want to go into data streaming and have more real-time, integrated, and easily accessible data across the organization while maintaining the security and level of control needed for personal financial data,” says Tattersall. “Teradata brings the platform that does all those things. On top of that, we can build our business processes, definitions, and integrations.”