Axis Bank's Data-Driven Transformation with Cloudera
Technology Category
- Analytics & Modeling - Big Data Analytics
- Analytics & Modeling - Machine Learning
Applicable Industries
- Finance & Insurance
- Retail
Applicable Functions
- Procurement
- Warehouse & Inventory Management
Use Cases
- Building Automation & Control
- Predictive Maintenance
Services
- Cloud Planning, Design & Implementation Services
- Data Science Services
About The Customer
Axis Bank is the third-largest private-sector bank in India, with over 20 million customers and more than 4,500 branches. The bank is a leader in data-led transformation, using big data and data analytics to boost profitability, manage risk, and improve operations. In response to the increasing demand for digital banking, Axis Bank has been able to deliver and transform the banking experience for individuals and companies. The bank offers over 250 services on digital channels and has over 10 million monthly users on its mobile application, making it one of the top-rated players in mobile banking.
The Challenge
Axis Bank, the third-largest private-sector bank in India, faced the challenge of adapting to the increasing demand for digital banking. With over 20 million customers and more than 4,500 branches, the bank needed to leverage big data and data analytics to boost profitability, manage risk, and improve operations. The shift towards digital banking services required Axis Bank to expedite its transformation to data-driven operations to meet changing customer needs. The bank needed to improve its understanding of the required data and the business problems it could solve. Simply collecting, storing, and managing data without a clear strategy or business objective would not create any real value. The bank also faced scalability challenges with its on-premises systems, which had difficulty integrating with cloud applications and could not facilitate ad-hoc analysis requirements for machine learning and artificial intelligence teams.
The Solution
To address these challenges, Axis Bank decided to build a strong data culture, replacing decision-making based on past experience or gut feeling with data-driven decisions. The bank made significant investments in technology to meet today's data-driven demands. Cloudera proposed solutions on Cloudera Data Engineering (CDE), Cloudera Data Warehouse (CDW), and Cloudera Machine Learning (CML) to improve Axis Bank's multi-cloud flexibility, security compliance, and provide consistent experiences for on-premises and public cloud. Axis Bank's core systems now collect application data, transaction-level data, and collections information across each customer's lifetime. The Cloudera EDH cluster integrates and analyses 750 terabytes of data from several sources in Axis Bank's systems, enabling the bank to generate insights for providing the best services and products. Axis Bank is also adopting a data mesh mindset, enabling a new level of analytics and setting up a best-in-class personalisation engine.
Operational Impact
Quantitative Benefit
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