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Banks and Fiserv: Leveraging Snowflake’s Secure Data Share for Seamless Data Insights

Fiserv, a global fintech and payments company with solutions for banking, global commerce, merchant acquiring, billing and payments, and point-of-sale company, is utilizing Snowflake’s Secure Data Share functionality to securely and instantly share data with their customers. Snowflake Secure Data Share enables data providers to share data with multiple consumers. Consumers can also access shared data from multiple providers. This is an amazing feature to share data securely to customers with no development required. Learn more about the functionality here.

Unlock the power of Data

Fiserv’s adoption of Snowflake’s Secure Data Share functionality underscores the growing importance for banks to embrace innovative data management solutions. Banks, with their vast amounts of sensitive financial data, are increasingly turning to Snowflake for its unmatched security features and scalability. By migrating to Snowflake, banks can centralize their data in a secure and highly scalable cloud environment, enabling seamless integration with various data sources and systems. This consolidation not only simplifies data management but also enhances data governance and regulatory compliance. However, moving to Snowflake can be a daunting task for some companies.

At Kipi, we understand the challenges banks face when transitioning to new data platforms like Snowflake. Our expertise in data migration and warehouse optimization can help banks navigate this transition smoothly, unlocking new possibilities for data-driven insights and innovation. We can prove it too – check out our success story with Fidelity Bank here.

We offer a comprehensive approach to transition to the Snowflake platform to consume Fiserv’s data. This involves initial setup of the Snowflake platform, transferring customer’s non-Fiserv data to Snowflake, followed by the creation of a robust Enterprise Data Warehouse. The solution includes a redesign and refactoring of existing ETL pipelines, jobs, data models, and BI tools to optimize performance and utilize the EDW created in Snowflake. This holistic approach ensures a smooth transition and creates a single source of truth on Snowflake.

Fiserv customers will be able to access their transactional data in near real time. Utilizing Kipi.bi will reduce the internal resources required to migrate to Snowflake and repoint existing tools to the new source of truth within Snowflake.

With Snowflake at the core of our solutions, we’re committed to helping banks harness the full potential of their data securely and efficiently. Contact us today to learn more about how we can support your journey to Snowflake and beyond.

July 09, 2024