OFX Customer story – Democratising data enterprise-wide
OFX is a global business headquartered in Australia that offers foreign exchange services focusing on facilitating cross-border payments. Born in a Sydney garage in 1998, OFX is now a worldwide organisation, offering over 50 currencies to more than one million customers. Differentiating itself through its high-level customer service, OFX operates with transparency, ensuring that regulations are met across jurisdictions, reassuring clients that their security is taken seriously.
At a Glance
At a Glance
OFX was embarking on a journey to become a truly data-driven business. With a clear data strategy in mind that required the implementation of Google Cloud services, OFX sought a technology partner with expertise in this area to form a strategic, long-term relationship. Key to the engagement was the ability to execute quickly to draw immediate insights and a breadth of skills and vision that would drive innovation for the future.
The Challenge
The Challenge
OFX wished to enable easy access to business data to everyone within the organisation in real-time. It planned to replace its incumbent data and reporting system that was both expensive and technically complex. Google Cloud had been identified as the solution, but the OFX technical team did not have the in-house expertise to set up Google Cloud solutions quickly and to scale.
The Solution
The Solution
Servian placed a team inside OFX to allow the two to work seamlessly together and share knowledge. Together, they built a Google-based solution that centralises data in BigQuery. Data is pumped from OFX source systems in real-time, allowing real-time reporting in Data Studio. Part of the work involved bridging the gap between OFX’s AWS environment and the new Google Cloud platform. Salesforce is the first of many applications to be onboarded, giving the sales team and dealers real-time access to customers quotes and deals.
Servian’s experience and existing relationship with Google allowed timely access to Google expertise and enabled the project to be completed quickly and cost-effectively. An ongoing relationship between the two parties will allow OFX to seek project-related support and expertise to ramp up or train its in-house team when required.
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“Servian embraced and worked with our team. They weren’t protective of their knowledge. They delivered the solution, but they also educated us as well. It’s most important that when the vendor leaves, the platform doesn’t stagnate because you don’t have those skills internally.”
The Result
The Result
Since the project is newly completed, a quantifiable return on investment will take longer to attain. However:
- Real-time reporting
OFX anticipates improved business efficiency and forecasting due to more accurate, real-time data and reporting.
- Democratised data enterprise-wide
In the first few weeks, OFX was able to onboard Salesforce in real-time. It was the first of many internal applications to be re-architectured to ingest streams of data into BigQuery.
- Reduced OPEX costs
OFX has identified a significant cost-saving over the longer term. The solution will reduce reporting time, thus freeing up OFX’s data science team for other duties.
Why Servian
We drive a competitive advantage for our customers by enabling them to become truly data driven. We help organisations design and implement robust enterprise data management strategies and data platforms that ensure the security, accuracy, and reliability of their data. Our services in data and analytics span across advisory, consulting and managed services.
