Nexus Cognitive Partners With a Leading Financial Trade Association to Upgrade Its System, Processing 40 Million Small Business Loans Monthly

About the Company 

This leading financial services trade association represents 145 major financial institutions in small business lending. The organization operates a central repository for aggregating loan performance data, crucial for risk management products.

Goal

The association faced challenges with an outdated legacy system, nearing its end of life and unable to meet increasing transaction volumes and member demands.

Problem 

• The legacy system, built on mainframe technology, struggled to support over 40 million monthly transactions from 186 data pipelines across 145 financial institutions.
• The system lacked scalability, security, and required a complete overhaul to meet modern demands.

Solution 

• Nexus Cognitive, in partnership with Cloudera, developed a modern data architecture on AWS, leveraging Cloudera's Data Platform (CDP).
• Employed first-principles thinking to design scalable components using open-source technologies like Nifi, Iceberg, Airflow, Spark, Kubernetes, and Ranger.
• Strong collaboration between Nexus and association stakeholders ensured the success of the project.

Results 

After partnering with Nexus Cognitive, the association experienced an entire transformation of its existing data management system.

• All association members are now contributing data to the new system.
• A new cloud-based architecture which scales dynamically, processing up to 70% of monthly data within the first ten days.
• Substantial reduction in processing time, with web applications responding in sub-second times.
• Simplified rule management, reduced onboarding time for new members, and improved security controls.

Conclusion

Nexus Cognitive specializes in delivering managed modern data architecture, providing cost-effective enterprise-class capabilities through NexusOne Managed Data as a Service (MDaaS).