Innovation in Data Analytics: Transforming Data Management in the Financial Sector

The financial market is highly competitive and dynamic, demanding precision and agility in data analysis from companies in this sector. For a major Brazilian bank, the need to enhance the management of its vast volumes of data became a strategic priority. The challenge was immense: efficiently integrate and prioritize the projects of 18 distinct Data Analytics teams, each dealing with its own demands and peculiarities.

The solution found by the act digital team was the implementation of a prioritization conveyor belt for the Data Analytics area. Banks accumulate an immense amount of data, from transactional information to customer behavioral insights. However, standardizing the prioritization and processing of this data amid a diversified infrastructure poses a significant challenge, especially in terms of scalability, security, and compliance.

Our team was pivotal in this transformation process. We took full responsibility for the project from the outset, addressing each phase with meticulousness and expertise. The work began with a detailed mapping of the needs and challenges faced by each team, followed by the implementation of a customized and standardized workflow, integrating Jira and Power BI functionalities.

In the end, the implementation of the prioritization workflow allowed the bank to improve its operational efficiency, strengthen data security, comply with regulations, and enhance its ability to respond swiftly to market changes.

Client: leadership and pioneering in investments

The financial institution that hired act digital is one of the largest and most influential in the banking sector in Latin America. With 40 years in the market, the company is known for its diverse portfolio of services and products, primarily focused on investment solutions and wealth management. Under its management and administration are allocated R$ 1 trillion in resources, a symbol of its clients’ trust.

The organizational culture is based on meritocracy, promoting agility, customer focus, operational excellence, decision-making autonomy, and a long-term strategic vision. Furthermore, the company bases its actions on principles such as integrity, responsibility, simplicity, nonconformity, and dedication, always aligned with the best ESG (Environmental, Social, and Governance) practices, reinforcing its commitment to positive social and environmental impact, generating sustainable value for clients, shareholders, and society.

Challenge: Implementation of a Prioritization Conveyor Belt in Data Analytics

The comprehensive implementation of a prioritization conveyor belt for the entire Data Analytics area represented a significant challenge for the financial institution. The project demanded a solution that could organize and provide automated insights to senior management. To achieve this, it was not enough to promote technological integration; processes also needed standardization. In the face of this challenge, several objectives were established, detailed as follows.

- Integration of various systems and processes: Coordinate the diverse projects and processes of the 18 Data Analytics teams, each with its own methods and tools, into a unified prioritization system.

- Generation of automated insights: Develop a system that automatically provided critical information about backlog status, main deliveries, serviced areas, and values, facilitating long-term strategic planning.

- Customization and personalization of Jira: Customize Jira to adapt it to the specific needs of each team, maintaining consistency and efficiency in the project management process.

- Change management and acceptance: Ensure that all involved teams adapted to the new processes and tools, overcoming natural resistance to change and promoting a culture of collaboration and efficiency.

- Maintenance of data integrity and security: Ensure data integrity and security during the integration process and after the implementation of the new system.

Solution: Implementation and Integration of the Prioritization Conveyor Belt

The task of implementing a prioritization conveyor belt for the Data Analytics area was approached with a multifaceted strategy by the responsible team. The project demanded not only technical integration but also a significant reorganization of the existing workflows and processes within the teams.

Methodology

The process began with a detailed mapping of the existing development procedures in all 18 Data Analytics teams. This initial survey aimed to identify the main difficulties faced by team members, managers, leaders, and business area owners. Based on this information, the team proposed a standardized workflow that involved the complete customization of Jira. Customized work items were created to facilitate requirements engineering, making the process more efficient and adapted to the client’s needs.

- Structuring the workflow: Jira customization involved creating workflows that reflected the operational and strategic needs of each team, ensuring that all projects were effectively integrated.

- Reframing ceremonies: Existing ceremonies (regular meetings or practices) in each team were reviewed and reformulated to align with the new system, ensuring a smooth transition and effective adoption of the new practices.

Technology

For the completion of this project, the following technologies and methodologies were used:

- Jira: As a central tool for project and task management and prioritization.

- Power BI: Used for generating insights and analyses, providing a clear and updated view of project status and backlogs.

- Agile methodologies: Including Scrum, Kanban, XP, ASD, DFDM, and FDD, to ensure flexibility and efficiency in project management.

- Traditional methodologies: Such as RUP and UP, as well as PMI practices for comprehensive and well-structured project management.

This integrated approach, combining technical customization with process restructuring, resulted in an effective Prioritization Conveyor Belt system aligned with the specific needs of the financial institution and its various Data Analytics teams.

Results: Efficiency and Transparency Gained with the Prioritization Conveyor Belt

The implementation of the Prioritization Conveyor Belt in the financial institution’s Data Analytics area brought remarkable and multidimensional results. This project, in addition to meeting initial expectations, generated additional benefits that extended throughout the organization.

- Increased transparency and clarity in workflow: The integration of 18 Data Analytics teams into a unified system provided a clear and transparent view of the workflow. Stakeholders at different levels now have access to detailed and updated information about project progress.

- Standardization of requirements engineering: Jira customization allowed the standardization of requirements engineering across all teams. This not only improved efficiency and consistency in project management but also facilitated collaboration and communication between teams.

- Enhanced backlog and roadmap visibility: The implemented system offered an improved strategic view of project backlogs and roadmaps, enabling more effective long-term planning.

- Maturity of teams’ capacity per sprint: There was a significant evolution in planning and execution capacity per sprint, resulting in more aligned and efficient project delivery.

- Valuable insights for senior management: Integration with Power BI provided senior management with automated and valuable insights, facilitating strategic decision-making based on concrete data.

- Cultural change and effective documentation: The project drove a positive cultural change within the organization, promoting greater objectivity in ceremonies and more efficient demand documentation.

- Accuracy in deliveries and technical quality: The implementation of practices such as CI/CD (continuous integration and delivery) and code review processes resulted in more precise deliveries and improved technical quality of teams.

- Satisfaction in business areas: The achieved results reflected in greater satisfaction in business areas due to enhanced efficiency and effectiveness in project deliveries.

How We Can Help Your Company

In the dynamic financial sector, the need for innovation and digital efficiency is more critical than ever. Our approach is to provide solutions that meet the current demands of financial institutions, preparing them to overcome future challenges. At act digital, we combine experience in innovation, agility, and technological expertise to ensure a safe and efficient digital transition for our clients.

We have a comprehensive portfolio of solutions, developed tailored to each project. Thus, we explore the maximum potential that technology can offer. Here are some of them!

- Development of digital platforms: We create tailored platforms to transform the digital experience, ensuring that the transition to new technologies is efficient and aligned with your business goals.

- Modernization of legacy systems: We assist in updating and integrating legacy systems, ensuring they align and complement new digital solutions.

- Data and operations security: We prioritize security in all our solutions, focusing on protecting data and processes to guarantee a reliable and secure transition in all digital operations.

- Custom APIs and applications: We develop customized APIs and applications that optimize operations, improve customer interaction, and enhance data analysis, elevating your institution’s analytical and operational capacity.

- Multichannel digital empowerment: We prepare institutions to address a variety of digital channels with new operational models and end-to-end solutions, ensuring a strong and efficient digital presence.

The implementation of the prioritization conveyor belt for the Data Analytics area exemplifies our commitment to excellence and innovation. By streamlining processes and integrating advanced technologies, we strengthen our clients’ business strategies. With customized solutions, we can transform your business challenges into growth and innovation opportunities. Talk to the act digital team.