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Fintech innovator WLTH unlocks data-driven growth without scaling the data team

Key Takeaways

⇨ WLTH is an Australian digital lending and payments provider aiming to transform the financial services sector by focusing on technology and sustainability, especially for small and medium businesses underserved by traditional banks.

⇨ The company emphasizes a 'data done different' approach, leveraging analytics and data aggregation to create tailored financial products, while also pursuing sustainability through partnerships like their initiative with Parley for the Oceans to clean up coastlines.

⇨ WLTH partnered with Atturra and implemented VaultSpeed to streamline their data management systems, which allowed for a flexible, low-maintenance infrastructure enabling rapid adaptation to market needs.

WLTH, an Australian digital lending and payments provider, aims to transform the financial services industry for small and medium businesses by utilizing innovative technology and sustainability efforts, partnering with Parley for the Oceans while implementing VaultSpeed to enhance their data management and customer experience.

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About the Client

WLTH, an Australian digital lending and payments provider, is on a mission to refresh the financial services industry in Australia by leveraging technology and sustainability. Since its establishment in Brisbane in 2019, WLTH has been dedicated to delivering a better experience to small and medium business owners who are often underserved by big banks.

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A key aspect of WLTH’s approach is their belief in “data done different”. They recognise the value of aggregating data from various sources to get to know their customers better and gain complete visibility to accelerate business innovation. WLTH leverages analytics to provide accurate recommendations and fuel an intelligent range of financial products, including home loans and investment loans. Additionally, they present a unique offering with their mortgage offset linked Visa debit card crafted from upcycled and intercepted ocean plastic.

By partnering with Parley for the Oceans, WLTH has embarked on a mission to support our oceans. For every home loan settled by WLTH, they will empower and assist the Parley team to clean up 50m2 of beach and coastline across Australia.

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Opportunity

When WLTH embarked on their journey to reshape the financial services industry, they turned to Atturra, a VaultSpeed Sapphire-certified service provider specialising in building tech infrastructures. Atturra was there right from the beginning, assisting WLTH in defining their big picture problems, and determining the technology stack needed for success.

One of the significant challenges WLTH faced was managing their data. Initially, their data resided in third-party solutions, and they needed to aggregate it to create a cohesive and valuable customer experience. Like many mid-market companies, WLTH wanted a right-sized solution that fit their budget, team size, individual skill, and calendar constraints – a difficult challenge in a market of expensive enterprise solutions.

To address these challenges, they decided to invest in a data infrastructure which would seamlessly weave together different datasets and provide easy and uniform access to data. Atturra proposed best-in-class vendors, including Snowflake for cloud storage, OKTA for identity and access management (IAM), and VaultSpeed for data warehouse automation.

Why VaultSpeed

When WLTH was searching for a solution to their data management challenges, they recognised the need for a genuinely agile setup that would allow them to add new financial products without the hassle of redoing existing data pipelines. They wanted an efficient, out-of-the-box solution that required low maintenance. That’s why they turned to VaultSpeed and the Data Vault methodology.

This choice aligned perfectly with WLTH’s business goals. Rather than being technology driven, VaultSpeed focused on defining and modeling the business entities, such as customers and products. This approach provided WLTH with the flexibility to adapt to changing business needs without sacrificing data integrity and consistency. VaultSpeed’s cloud-native setup, which only extracts metadata and not actual data, addressed all security and privacy concerns of the fintech business. This design ensured that sensitive data remained protected.

VaultSpeed no-code automation was the natural choice for efficient and effective design, deployment, and operations. It offered a comprehensive automation solution, that streamlined the data warehouse creation process and guaranteed reduced maintenance costs into the future.

Solution

WLTH’s decision to implement VaultSpeed proved to be transformative for their data management.

WLTH was able to get the bigger picture in record-breaking time. The data engineer at WLTH underwent comprehensive VaultSpeed training, equipping them with the skills and knowledge to leverage the platform effectively. Atturra also provided VaultSpeed-designed professional services guidance to WLTH, ensuring a smooth implementation and ongoing support.

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