Leading Financial Institution Streamlines Reporting with Coforge Solutions, Boosts Efficiency

Overview

A leading financial institution, needed to significantly improve their reporting efficiency. Outdated systems were creating maintenance burdens and inconsistencies, hindering streamlined operations. To tackle these challenges head-on, it partnered with Coforge Solutions, a trusted expert in optimizing financial reporting processes. Coforge implemented a Data Lake on Microsoft Azure, successfully transforming their reporting landscape.

Business Challenge

The client was grappling with several challenges within their existing reporting infrastructure, including timely data availability, data silos, manual processes, non-robust reporting mechanisms, data quality issues, and the absence of a comprehensive customer 360-degree view. The primary objectives were to enhance data accessibility, eliminate silos, automate manual processes, and establish a robust reporting mechanism with improved data quality.

The specific challenges highlighted were:

• Timely Data Availability and Accessibility
• Data in Silos
• Heavy Reliance on Manual Processes
• Non-Robust Reporting Mechanism
• Data Quality Issues
• Data Classification
• Manual Validation and Data Preparation
• Lack of Customer 360 View
• Lack of Self-Service Mode

Coforge Solution

The client engaged Coforge to conduct a thorough assessment of their current reporting landscape. The engagement involved identifying process gaps, proposing recommendations, and developing a comprehensive Report Rationalization and Modernization roadmap.

After an extensive study, Coforge proposed a transformative solution leveraging Microsoft Azure's capabilities. The key recommendations included:

• Implementation of an Enterprise Data Lake on Microsoft Azure.
• Rapid onboarding of datasets with a template and configuration-driven approach.
• Data standardization, cleansing, validation, and auto-profiling framework on Azure.
• Introduction of a Governance UI for Metadata Search, Lineage Analysis, Object Management, and Profiling Statistics Analysis.

Technical Solution Highlights:

Coforge team outlined a comprehensive technical solution to address their challenges:

• Enterprise Data Lake on MS Azure: Establishing a scalable and secure data lake to centralize and manage diverse datasets.
• Rapid Onboarding: Ingestion and transformation of datasets through a template and configuration-driven approach to expedite the on-boarding process.
• Data Standardization and Cleansing: Implementing robust processes to ensure standardized, cleansed, and validated data.
• Auto-profiling Framework: Utilizing Azure tools for automatic profiling to enhance data quality and integrity.
• Governance UI: Introducing a user-friendly interface for metadata search, lineage analysis, object management, and profiling statistical analysis.

Results

The implementation of the Data Lake on Microsoft Azure empowered the client with:

• Improved data accessibility and availability.
• Elimination of data silos and manual processes.
• Establishment of a robust reporting mechanism.
• Enhanced data quality through standardization and cleansing.
• Implementation of a Governance UI for comprehensive metadata management and analysis.

The client’s collaboration with Coforge to implement a Data Lake on Microsoft Azure exemplifies a successful transformation of their reporting landscape. The solution not only addressed existing challenges but also positioned our client for future scalability, agility, and enhanced decision-making capabilities. The integration of Azure technologies, coupled with Coforge’ s expertise, has set a benchmark for modernizing reporting infrastructures in the financial sector.

Discover the full spectrum of our Microsoft capabilities and unlock the potential of your data landscape. Email us at Microsoft@Coforge.com for a complimentary consultation to explore how our strategic services can advance your organization towards a future where data is not just managed but leveraged for unparalleled insights and competitive advantage.