In 2013, TD Bank set an ambitious goal: to transform how it uses IT to strategically drive the business.
"The goal is to provide self-serve access to the right kind of data to the right users based on their approved privilege and intended usage, such as performing data analytics, reporting and data processing," says Mok Choe, senior vice president and chief architect.
"We had to navigate the complex process of automating the data-ingest process from dozens of data sources in the format of mainframe, XML and flat files that were being pulled into our big data platform," says Choe.
The bank deployed a data management tool from Podium Data, which it installed on its Hadoop cluster. While the full implementation won't be complete until later this fall, there has already been an impact on the business, including a 39% improvement in identifying certain customers for marketing campaigns, and new revenue opportunities enabled by customer segmentation made possible by big data efforts.
Choe says the bank's enterprise data provisioning platform, along with the enterprise data it holds, "is the cornerstone to provide the bank's 360-degree customer view," which makes it possible to more effectively identify customers for campaigns.
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