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Title
Personalizing the consumer lending experience
…Demo Login Contact Us Try Databricks Customer Stories / Oakbrook CUSTOMER STORY Personalizing the consumer lending experience 14% Projected cost savings over the first 3 years 2 New financial products deve…
Description
Oakbrook Finance, a UK consumer lending fintech, moved to the Databricks Data + AI Platform on Google Cloud to unify data science and analytics for its loan decisioning platform, O6K, replacing a legacy SQL Server Integration Services environment that could not support advanced risk-prediction analytics. The new platform enabled faster development of data science models for personalized lending decisions, projected 14% cost savings over three years, supported two new financial products launched in 12 months, and is forecast to drive a 5% revenue increase from new top-up loans.
…Stories / Oakbrook CUSTOMER STORY Personalizing the consumer lending experience 14% Projected cost savings over the first 3 years 2 New financial products developed in 12 months 5% Revenue increase forecast ov…
…savings over the first 3 years 2 New financial products developed in 12 months 5% Revenue increase forecast over the next 12 months from new top-up loans Watch video Stringent regulation and outdated approaches to consumer lending ha…
Company
Oakbrook Finance
…rity and Trust Ready to get started? Get a Demo Login Contact Us Try Databricks Customer Stories / Oakbrook CUSTOMER STORY Personalizing the consumer lending experience 14% Projected cost…
Country
United Kingdom
…tch video Stringent regulation and outdated approaches to consumer lending have made it more difficult for many consumers across the UK to obtain loans. However, fintech organizations such as Oakbrook Finance are revolutionizing th…
Industry
Financial Services
…e better, more responsible outcomes for our customers.” Share this post Details Industry : Financial Services Cloud : Google Cloud Product : Delta Lake , Unity Catalog Ready to get started?…
Problem
Oakbrook's legacy SQL Server Integration Services (SSIS) environment, optimized only for simple SQL queries and reporting, could not support more advanced analytics or data science such as predicting an individual's loan risk. Data teams writing SQL, R and Python could not collaborate, processing often happened outside the main data environment, and the platform suffered limited storage, inability to scale, complex and unreliable data flows, and siloed third-party data.
…published by their O6K platform each day. With data volumes rapidly increasing, Oakbrook faced critical challenges with their legacy SQL Server Integration Services (SSIS) environment. Optimized for simple SQL queries and reporting, the platform failed to support more advanced analytics or data science, such as predicting the risk of providing a loan to a specific individual. Data teams writing SQL were also using other languages like R and Python, which…
Solution
Oakbrook adopted the Databricks Data + AI Platform on Google Cloud, letting data scientists working in R or Python operate in a unified environment with their own clusters instead of blocking each other with overnight SQL queries. Oakbrook introduced Fivetran, a Databricks technology partner, to ingest data into the lakehouse in a low-code way instead of building bespoke ETL processes, extracting previously siloed call center and marketing data for analysis. The platform also enabled building summaries of customer information to provide more personalized lending decisions, including a top-up loan and collections decision engine.
…ore data even faster than before. Adding further data onboarding functionality, Oakbrook has introduced Fivetran — an official Databricks technology partner — providing analysts with even more insights, quickly and efficiently, while saving valuable data engineering time. Instead of creating bespoke ETL processes, data engineers can now use Fivetran…
Business value
Oakbrook projects 14% cost savings over the first three years through productivity gains and optimized compute, launched two new financial products in 12 months, cut new-data-source onboarding time from days to half an hour, and forecasts a 5% revenue increase over the next 12 months from new top-up loans offered to 10,000 customers.
…Stories / Oakbrook CUSTOMER STORY Personalizing the consumer lending experience 14% Projected cost savings over the first 3 years 2 New financial products developed in 12 months 5% Revenue increase forecast ov…
AI capabilities
Predictive Analytics, Recommendation & Personalization, Machine Learning
…n and collections decision engine. Thanks to the Databricks Data + AI Platform, Oakbrook can build summaries of information about customers they already know, and provide even more personalized decisions based on detailed individual data. With this capability, Oakbrook has been able to offer 10,000 of their customer…
Technology
Databricks Data + AI Platform, Delta Lake, Unity Catalog, Fivetran
…rs.” Share this post Details Industry : Financial Services Cloud : Google Cloud Product : Delta Lake , Unity Catalog Ready to get started? Try Databricks for free Learn more about our product Talk…
Deployment model
Cloud
…comes for our customers.” Share this post Details Industry : Financial Services Cloud : Google Cloud Product : Delta Lake , Unity Catalog Ready to get started? Try Databricks for f…
Deployment options
cloud
…comes for our customers.” Share this post Details Industry : Financial Services Cloud : Google Cloud Product : Delta Lake , Unity Catalog Ready to get started? Try Databricks for f…
Implementation approach
Replaced bespoke ETL processes with Fivetran's low-code data ingestion, cutting new-data-source onboarding from a matter of days to half an hour, while moving heavy SQL workloads off a shared overnight queue onto individual user clusters.
…ultimately generating deeper insights and improvements in customer experience. The teams can also onboard new data sources in half an hour, rather than a matter of days. Driving innovation and personalization for better customer outcomes Oakbrook no…
Headline outcome
…Stories / Oakbrook CUSTOMER STORY Personalizing the consumer lending experience 14% Projected cost savings over the first 3 years 2 New financial products developed in 12 months 5% Revenue increase forecast ov…
Use case type
Personalisation
…n and collections decision engine. Thanks to the Databricks Data + AI Platform, Oakbrook can build summaries of information about customers they already know, and provide even more personalized decisions based on detailed individual data. With this capability, Oakbrook has been able to offer 10,000 of their customer…
