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Data-driven Banking

Empowering Data-driven Banks with Solix

Operations in the banking sector have evolved from branch-centric models to digital-first experiences, creating a truly omnichannel business. This evolution increases the data footprint as banks generate vast amounts of structured and unstructured data, including transactions, communications, risk reports, and customer records.

This data growth offers opportunities and challenges. Modern banks must move beyond legacy tools to meet current data needs. Banking in the AI age requires an advanced data management strategy supported by a robust platform that automates operations, ensures compliance, and provides customer value.

Here’s where Solix can help.

The Solution

Why Data-Driven Banks Must Choose Solix?

Banks, credit unions, and firms in the financial services industry manage vast amounts of data across retail, corporate, investment, and digital-led neo-banking services. Regulations governing this data management are stringent. While this data is crucial for creating a competitive advantage, institutions continue to face challenges with outdated systems, regulatory requirements, and escalating costs.

Solix can help banks modernize old infrastructure, improve data governance, and ensure compliance with regulations such as GDPR, GLBA, and PCI-DSS. Solix aids in discovering, anonymizing, and masking PII fields. Additionally, it enhances operational efficiency through real-time and historical analysis. Solix activates dark data and centralizes document storage and management within a unified, auditable platform.

Solix Data-driven Banking
Benefits

Here’s How We Augment Your Existing Banking Data Operations

Streamline banking data operations with unified data management, advanced analytics, robust governance, cost optimization, compliance, and real-time insights

Information Lifecycle Management

Decommissioning Legacy Applications and Information Lifecycle Management

Solix helps you modernize your legacy IT infrastructure and retire redundant legacy applications and tools with Application Retirement on the Solix Common Data Platform. This reduces storage, maintenance, and licensing costs while retaining full access to your data on a secure, compliant, and fully governed data platform.

Data Unification

Consolidating Diverse Banking Data into a Unified Data Platform

With Solix Data Lake Plus, you can consolidate your banking data into a unified data platform, helping you create a single source of truth.

The Solix Data Lake Plus architecture allows you to:

  • Maintain end-to-end visibility across retail, corporate, and digital banking operations
  • Use advanced analytics tools to track customer behavior, detect fraud, and score credit risk
  • Generate real-time insights into operational performance and business KPIs
  • Stage reliable data for financial modelling, stress testing, and regulatory audits
  • Create a foundation for machine learning and AI initiatives
Data Governance

Discover Sensitive Data and Enforce Federated Data Governance for Improved Compliance

With the Solix Enterprise Security and Compliance suite of solutions, we deliver centralized governance, automated policy enforcement, and regulatory alignment for businesses looking to secure their data ecosystem.

Key Features Include:

  • Sensitive Data Discovery and Tagging
  • Rule-based Data Masking for Compliance and Privacy
  • Automated Retention and Robust Access Control Frameworks
  • Adherence to Global and Regional Regulations on Data Management
  • Enforcing Federated Data Governance on your data without needing to move it
AI-Powered Data Discovery

Activate your Dark Data and Manage it in a Lakehouse-like Data Platform

Banks have accumulated millions of forms, several redundant applications, and credit reports over numerous years of operations. However, little is known about all of this data and its compliance requirements, essentially becoming what one could call “dark data.”

With Solix Intelligent Data Classification and Solix Enterprise AI, you can uncover your dark data and transform it into an insight-driving asset you can leverage for business decisions. In addition to insights, you will also uncover the nature of sensitivity, enabling you to automatically tag it according to its nature, retention mandate, and type. This data can also be queried in natural language with Solix GPT via a chatbot-style interface.

Retail & Commercial Banking
Investment Banking
Wealth & Investment Management
Trading and Capital Markets – Prime Brokerage
Resources

Related Resources

Explore related resources to gain deeper insights, helpful guides, and expert tips for your ongoing success.

Why Us

Why SOLIXCloud

SOLIXCloud offers scalable, secure, and compliant cloud archiving that optimizes costs, boosts performance, and ensures data governance.

  • Common Data Platform

    Unified archive for structured, unstructured and semi-structured data.

  • Reduce Risk

    Policy driven archiving and data retention

  • Continuous Support

    Solix offers world-class support from experts 24/7 to meet your data management needs.

  • On-demand AI

    Elastic offering to scale storage and support with your project

  • Fully Managed

    Software as-a-service offering

  • Secure & Compliant

    Comprehensive Data Governance

  • Free to Start

    Pay-as-you-go monthly subscription so you only purchase what you need.

  • End-User Friendly

    End-user data access with flexibility for format options.