Prepaid Banking on Steroids – Managing Massively Scalable Datasets with Ease
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Sutton Bank, a 150-year-old community bank, developed a big data environment to streamline the onboarding of client data, enhance compliance oversight, and improve operational efficiency. This initiative, executed using HPCC Systems open-source code and Dell hardware, resulted in managing over 190 million account records and significantly improving fraud detection capabilities. The bank anticipates doubling its business in 2018, expecting to enhance operational efficiency by a factor of ten.
Prepaid Banking on Steroids – Managing Massively Scalable Datasets with Ease
- 1. Innovation and Reinvention Driving Transformation OCTOBER 9, 2018 2018 HPCC Systems® Community Day Jeff Lewis SVP Sutton Bank Prepaid Banking on Steroids – Managing Massively Scalable Datasets with Ease
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- 3. History • History of Sutton Bank • 150 year old Community bank in Ohio • Began in Prepaid in 1999 • Approximately 100 individuals • All processes related to Prepaid/Payment business are operated manually • Connected to 3 – partner processors Prepaid Banking on Steroids – Managing Massively Scalable Datasets with Ease 3
- 4. Problem • Increase the speed at which we onboarded new client data – never be the reason to delay new business • Create a big data environment with data analysis that had to be fast and flexible enough to supply data in whatever format management required to make better decisions about pricing our services, properly staffing our IT team and identifying new regions and partners that can benefit from our services • Step up our compliance game to improve fraud oversight and reporting to keep overhead low and the business profitable • Address a number of concerns raised by the bank’s regulators • Complete it in 120 days Prepaid Banking on Steroids – Managing Massively Scalable Datasets with Ease 4
- 5. Solution • What • Develop a big data environment that provides: • Compliance Oversight • AML/BSA alerting and identification of issues • Forecast projected revenue and volumes for management reporting • How • HPCC Systems open source code • DataSeers for technical knowhow • Dell hardware – scalable in a Cleveland data center • FTP server installed to manage inbound/outbound • Visualization tool for Management Prepaid Banking on Steroids – Managing Massively Scalable Datasets with Ease 5
- 6. Results - 66 million active accounts on file • Statistic • Number of Account records 190,274,373 • Number of Person records 86,489,974 • Number of Address records 76,861,278 • Number of Card records 91,141,377 • Number of Transaction records 825,419,649 • Compliance • Searching over 400 million records in 10 minutes • Identifying fraud of approximately $1.5 million across 500 card accounts Prepaid Banking on Steroids – Managing Massively Scalable Datasets with Ease 6
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- 9. Sutton Bank expects to double our business in 2018. Previously to the platform we estimated on employee per 500,000 end-user accounts. With this platform we now expect that statistic to improve tenfold. Sutton is now spotting and flagging concerns on incoming transactions proito to our clients Tomorrow is here today Prepaid Banking on Steroids – Managing Massively Scalable Datasets with Ease 9
- 10. Prepaid Banking on Steroids – Managing Massively Scalable Datasets with Ease 10 “Difficult to see. Always in motion is the future” – Yodo HPCC Systems and DataSeers gave Sutton Bank the ability to harness the future.