Personal finance is a highly emotive market where speed and accuracy of information are paramount.
“When you’re dealing with other people’s money, there’s no margin for error,” says Peter Ingram, CTO of Hastee Pay. “The ability to produce fast, effective business intelligence (BI) is playing a pivotal role in the company’s success.”
When Peter joined Hastee Pay in December 2017, it was using a combination of Microsoft Power BI and spreadsheet analysis. However, this solution was proving too costly and clunky, meaning one of Peter’s first tasks was finding a more suitable alternative.
“We reviewed several leading analytics and reporting platforms, but quickly settled on Tableau due to its data accuracy, highly visual presentation and real-time intelligence capabilities,” says Peter.
With Tableau in place, the company can achieve a wide range of BI goals quickly and efficiently, ranging from in-app user behavior analytics to financial reporting for its client.
“Using Tableau, we can keep our clients updated in real-time on key information such as how much money workers are withdrawing, when they are withdrawing it and how frequently,” says Peter. “This kind of information is hugely valuable for their financial planning and our ability to provide it instantly through Tableau gives us a big competitive advantage.”
Hastee Pay is also able to clearly demonstrate the ROI of its service to clients using Tableau analysis.
“In nearly every company where our solution has been introduced, worker attendance and punctuality has increased significantly,” explains Peter. “This is because employers can choose not to make pay for a shift immediately available to a worker if they are more than a certain number of minutes late for it. Tableau analysis of in-app data shows that as a result, around 70 percent of workers now arrive early for every shift, to ensure instant access to their pay at the end.”