Use-cases/Project
2 min read

Real-Time Data Revolution: How Bank Millennium Transformed Customer Engagement and Fraud Prevention

The rapid growth of electronic customer contact channels has led to an explosion of data, both financial and behavioral, generated in real-time. This data presents a valuable resource for marketing, sales, business process optimization, and fraud prevention strategies.

Business Challenges

As the volume of real-time data grew rapidly, Millennium Bank required a solution that could efficiently analyze large data streams in real time. The objective was to harness this data to drive informed decision-making and enable instant actions across customer communication channels and banking applications.

real time getindata millennium

Implemented Solution

Bank Millennium, in collaboration with GetInData, implemented a cutting-edge system based on open-source components such as Apache Flink and Apache Kafka. This solution enabled efficient processing of streaming data, data enrichment, and instant actions, such as customer communication through electronic channels and real-time operations via banking apps. A key advantage of the system is its user-friendly interface, which allows business users to configure and implement changes quickly and independently—a crucial feature in the fast-evolving business landscape.

A significant advantage is also the possibility of self-configuration by the business user, ensuring quick introduction of changes and new functionalities. This is crucial in a changing business environment.

GetInData's involvement included developing and scaling the solution architecture, its implementation, deployment, and integration with data sources. Example business scenarios were also created as a basis for further expansion carried out independently by the Bank Millennium.

Results

The implemented solution has found application in the area of marketing campaigns, allowing for communication with the customer and offering them closely tailored products at the right time, as well as in the area of fraud prevention, significantly reducing the time needed to adapt anti-fraud scenarios to changing requirements - which is crucial in this area.

apache flink
real-time fraud detection
real-time
Data Streaming
17 October 2024

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