Bajaj Finserv minimizes lending risk with data-driven decisions
Reduced analytics time from 2 days to 8 hours
Created a single source of truth
Minimized lending risk
Bajaj Finserv Limited is an Indian financial services company focused on lending, wealth advisory and insurance. As the financial arm of Bajaj Group, one of Mumbai’s largest and oldest conglomerates, Bajaj Finserv is one of the most profitable and diversified non-banking financial companies (NBFC) in India.
Head of Business Intelligence & Analytics Infrastructure Nilotpal Gupta shares how data analytics using Tableau helps Bajaj Finserv minimize lending risk and make informed decisions with a single source of truth.
Critical risk portfolio analysis, which used to take two to two and a half days, is now produced within 8 to 10 hours.
Minimizing risk and maximizing returns
As a financial lending institution, risk is Bajaj Finserv’s biggest challenge. Data analytics plays a critical role in ensuring that loans are given to the right customers. Nilotpal’s team does critical risk portfolio analysis with Tableau on a monthly basis, and presents the insights directly to management executives through clear and simple visualizations. This analysis, which used to take up to two to two and a half days prior to Tableau, can now be done quickly within 8 to 10 hours.
Creating a single source of truth across the enterprise
Bajaj Finserv has an enterprise data warehouse that collects and stores data from various platforms such as their acquisition and co-lending platforms. With such big data sets in disparate forms, business users interpreted the data in their own ways, and there was no unified vision across the business. The analytics team wanted to create a single source of truth, and Tableau helped to simplify that. Building on their enterprise database, Nilotpal’s team created visualizations and shared key dashboards on Tableau Server, where business users could access and do their own slice-and-dice analysis.
In today’s generation, data is oil. Tableau is a platform which has helped us tremendously.
Making smart and secure decisions with data
The single source of truth created with Tableau Server empowered business users with little technical knowledge to access and engage with enterprise data, and make smart decisions based on the insights. Back-end security measures are also put in place to protect customers’ data, so that sensitive information about individual customers is never exposed to business users.
Making smart and secure decisions with data is crucial to any financial institution’s success. Summarizing the important role of data in Bajaj Finserv’s business, Nilotpal shares, “In today’s generation, data is oil. Tableau is a platform which has helped us tremendously.”