Data Monetization Framework

Make your data work for you to create a thriving
and innovative ecosystem 

Banks and financial institutions (FIs) continuously struggle with declining revenues from traditional transactional businesses. Data and analytic insight sharing are becoming increasingly important for these institutions as they seek new ways to monetize assets and stay competitive with their peers and FinTechs. Data as an asset is gaining momentum with the maturity of data warehousing technologies to address performance, security, and regulatory concerns. 

Traditional data sharing methods, such as shipping data extracts, are costly, inflexible, and batch driven. Modern systems must allow real-time data sharing and on-demand querying, support multiple methods and interfaces for sharing, and avoid making copies of data for lower cost and maintenance. Virtusa's Data Monetization framework enables FIs to establish a data marketplace by utilizing a cloud-based data warehousing platform. The internal or external stakeholders can directly share data "in-place" from the database where it is stored.

Key features
  • Building the models and ingestion mechanisms for the “consumer layer” of the Data Warehouse (DWH), from which data is shared with stakeholders
  • Creating a layer of secure views using which data is shared from the cloud DWH, with appropriate security, virtualization, and entitlements
  • Creating reports and dashboards using a cloud BI/reporting tool that allows easy sharing of links to all stakeholders
  • Anonymized, aggregated data, with masking/encryption of PII or sensitive fields
  • Setting up of the data marketplace, with appropriate monetization models
  • Billing and metrics of usage by various consumers
Key benefits
FIs can distribute and share their data with clients and other stakeholders in the supply chain, with an opportunity to monetize the data owned by them
By offering some free data services (while monetizing some others), banks or FIs can gain better visibility and a competitive edge in the financial data ecosystem
Improves stickiness of clients and other stakeholders who see the value of the data and insights provided by FIs
Enhanced market perception for banks or FIs as an adopter of technology advancements and the cloud to stay ahead of the curve - market demands and the competition
Why Virtusa
  • Our data and financial domain experts can build the right consumer data models for clients on the cloud DWH
  • We carry key learnings from client projects, such as potential pitfalls, what can cause higher cloud costs, and how to optimize performance 
  • Templates and blueprints/accelerators for data ingestion, sharing, and creation of views vastly expedite client projects, allowing banks to start sharing and monetizing their data, sooner
  • Our framework is driven by meta-data and is UI assisted – resulting in faster creation of the solution
  • We help you create the right financial models for monetization

Find out what Virtusa can do for you

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