RenMoney is a microfinance bank that offers various financial services for its customers such as loans, savings and investment. Renmoeny is one of the biggest fintechs in the space of lending to both individuals for personal use and to businesses. They are licensed and regulated by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC).
RenMoney gives out soft loans to alot of its customers, from time to time, they need to be able to corrobarate all this data to be able to analyze the pattern of loans, know the customers that are defautling and get in-depth understanding of they payments made by customers. They also have different channels of collecting loan-repayments from different customers, that requires analysis also.
All these put together are thousands to millions of transactions and this data is stored in different locations, systems, and in different data formats. The data is stored in; structured, semi-structured and unstructured methods. They are also stored in different database technologies.
Create a 360-degree profile of customers by consolidating all the data that exist in different platform, to give the business analytics team data to perform quick and very informationtive decisions and standing for different customers, loan status and other relevant business information.
We architected a robust data pipeline that involved different stages of data processing, riding on the standard ETL (Extraction Transformation and Loading) process of data preparation. It involved using the following technologies to perform the ETL process
The process involves three stages;
RenMoney was able to analyze data faster with this solution and get insights faster because the data from different sources became more connected