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Bank of Georgia leverages data analytics to scale customer engagement

Friday 20 December 2024 07:25 CET | News

Bank of Georgia has announced that it now utilises Cloudera to merge multiple data sources in a single centralised location, offering optimised customer experiences. 

In addition to delivering a customised user experience, Bank of Georgia is also utilising data analytics to scale innovation and further advance the financial sector in the region. Currently, the company has over 1.5 million monthly active digital users, with 99% of transactions being conducted via remote channels, according to its data. In addition, as part of its offering, Bank of Georgia equips personal and business customers with a range of products and services, including car loans, investments, remittances, and online banking.

Bank of Georgia leverages data analytics to scale customer engagement

Since its inception, Bank of Georgia has been committed to launching and implementing products are services that support customers and improve the financial sector in the country. Also, the company acknowledged the need for centralising and integrating its data into a single location to simplify operations, accelerate product development, and assist advanced analytics. Bank of Georgia took into consideration the need for security and meeting regulatory requirements and data privacy mandates. The company decided that it required a platform that demanded minimal time and resources to develop and manage integration with its current technology system.

Bank of Georgia and Cloudera’s partnership

To achieve this, Cloudera, together with HTS, its local implementation partner, collaborated with Bank of Georgia to implement its services as a central platform for the latter’s customer and financial data. Through this initiative, the company now holds a centralised open data lakehouse that can expand to integrate data from several sources, including its digital platforms’ volumes.

With Cloudera’s functionality, Bank of Georgia can optimise multiple complex integrations using its existing environment. Previously, the financial institution leveraged over 15 open-source products for data streaming from databases. In addition, as Cloudera has an open architecture and delivers interoperability, Bank of Georgia’s team does not have to manually build data pipelines and integrations, now having the ability to stream data into the lakehouse with Apache Spark.

Furthermore, by having a modern data architecture, Bank of Georgia now has scaled accessibility to its information assets, as the open data lakehouse includes new information from several sources in real-time. Among the use cases facilitated by its customer and financial data, Bank of Georgia mentions a complete view of its customers for insight into their behaviour, customised offers and services, and improved product recommendations across all channels.


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Keywords: partnership, fintech, online banking, digital banking, financial data, data analytics
Categories: Banking & Fintech
Companies: Bank of Georgia, Cloudera
Countries: Georgia
This article is part of category

Banking & Fintech

Bank of Georgia

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Cloudera

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