Modernizing Bank's Transaction Search
Expanding Data Access from 6 Months to 5 Years with Cloud-Based Search
At MetaMarTech, we provide innovative digital solutions that drive performance, scalability, and business growth. Whether it's optimizing website speed, implementing advanced cloud technologies, or rethinking infrastructure, we work with businesses to overcome complex challenges and unlock new opportunities.
Modernizing Bank's Transaction Search Capabilities
The Challenge
A leading financial institution looking to modernize their transaction search capabilities. The goal is to expand customer transaction data access from 6 months to 5 years while implementing modern, scalable search functionality. A cloud-based search solution is being considered to meet the evolving needs of customers and comply with industry standards.
Step-by-Step Approach for Understanding the Bank's Needs
Our systematic 4-step approach to modernize transaction search with cloud-based solutions
Understanding Their Needs and Challenges
What Brings You to This Meeting?
Initiate the conversation by understanding the bank's core reasons for modernizing their transaction search capabilities and why the initiative is a priority at this point in time.
Current Challenges
Ask about current challenges they face in searching and accessing transaction data. For instance, are they facing performance issues or capacity constraints with their existing infrastructure?
Existing Technical Environment
Inquire about the bank's current technical environment, such as the database system, storage architecture, and search tools they use today. Understanding the legacy systems they have in place will be critical for designing the future solution.
Security, Compliance, and Operational Requirements
Security and Compliance Requirements
Discuss the security and compliance requirements that must be met, such as GDPR, PCI-DSS, or any regulatory obligations related to financial data.
High Availability & Disaster Recovery
Ask about their high availability and disaster recovery requirements to ensure the solution can operate continuously with minimal downtime and meet recovery objectives.
Performance Requirements and SLAs
Explore their performance expectations and service-level agreements (SLAs), including acceptable latency, response time, and how quickly the system needs to scale during peak traffic.
Success Criteria & Metrics
Inquire about what success looks like for the bank. For example, are they targeting reduced search times, improved customer satisfaction, or lower operational costs?
Technical Solution Proposal and Implementation Approach
OpenSearch Service Architecture and Components
Explain the OpenSearch service architecture (formerly Amazon Elasticsearch) and how it can be leveraged to meet their needs. This includes discussing search indexing, query performance, and scalability.
Data Transformation with AWS Glue
Introduce the AWS Glue ETL process and how it can be used to transform, cleanse, and load transaction data into the OpenSearch service. This will help in creating an optimized, searchable dataset.
Integration with Existing Systems
Discuss how the OpenSearch solution integrates with their existing IT systems. This might include data pipelines, analytics tools, or third-party applications that rely on transaction data.
AWS Training for Technical Team
Assess the bank's AWS knowledge and determine if there's a need for training to upskill the team in AWS services, such as OpenSearch, AWS Glue, and CloudFormation, among others.
Addressing Risks, Constraints, and Next Steps
Potential Risks and Mitigation Strategies
Identify any potential risks related to the migration, performance, or security and discuss strategies to mitigate them. This could include data migration issues, integration complexities, or ensuring compliance with security standards.
Budget and Resource Constraints
Inquire about any budget and resource constraints the bank might have, ensuring that the solution is feasible and aligned with the allocated resources for this project.
Timeline Expectations
Discuss the timeline expectations for this initiative. Do they have specific deadlines for the proof-of-concept (PoC), full deployment, or key milestones in the project?
Next Steps & Summary
After gathering all relevant information, summarize the key findings from the meeting and outline the next steps for moving forward with the proof-of-concept (PoC).
Modernized Search with Enhanced Capabilities
Extended Data Access
Successfully expanded customer transaction data access from 6 months to 5 years, meeting regulatory and customer needs.
5 YearsFaster Search Performance
Modern cloud-based search solution delivered sub-second query response times for millions of transactions.
< 1s ResponseCompliance & Security
Met all PCI-DSS and GDPR requirements with enterprise-grade security and encryption standards.
100% CompliantCost Optimization
Reduced operational costs by 45% through efficient cloud resource utilization and automated scaling.
45% SavingsTechnologies Used
AWS OpenSearch
AWS Glue
Amazon S3
AWS KMS
CloudFormation
CloudWatch
Why Choose MetaMarTech?
Financial Services Expertise
MetaMarTech's expertise in cloud solutions for financial institutions, coupled with our deep understanding of security and compliance standards.
Security & Compliance First
We prioritize security and regulatory compliance in every solution, ensuring your data is protected and meets industry standards.
Proven Track Record
Successfully delivered modernization projects for leading financial institutions with zero downtime and full compliance.
The Road Ahead
By understanding the bank's specific needs, security and compliance requirements, and technical challenges, we can help design a tailored, scalable, cloud-based search solution using AWS OpenSearch and AWS Glue. Let us help you unlock the full potential of your transaction search capabilities with AWS-powered solutions.
Contact Us Todayinfo@metamartech.com