FNZ Increases Developer Productivity by 30% with ER/Studio

Data Management Challenges at FNZ

Gary Kilby, Database Architect, is part of the six-person team responsible for supplying the data that keeps the FNZ platform operating to meet their commitments.

“Our data and systems are complex; I’d used ER/Studio at my prior company, and it never disappoints. Other tools on the market don’t provide the level of control we need,” Kilby added, “With ER/Studio, we have the right level of control over our data models.”

FNZ’s operations, having expanded through mergers and acquisitions, led to a proliferation of data across multiple systems. This, combined with the need to meet the evolving digital demands of diverse stakeholders, has presented a unique and significant challenge for their data architect team.

FNZ encountered several data management challenges:

Data Complexity

FNZ’s platform integrates data from numerous financial institutions, each with unique data structures and formats. ER/Studio’s robust reverse engineering, creating detailed logical models, simplifies the management of this complex data landscape.

Data Quality

Ensuring data quality across diverse sources was critical for creating data products to serve widely diverse stakeholders and audiences.

Scalability

FNZ requires a scalable solution that can handle increasing data volumes and complexity as it grows.

Developer-Driven Environment

Kilby and his team worked with a diverse group of developers spread out over different functions, supporting all the lines of FNZ’s business.

As Kilby mentioned, their data environment consists of many systems. “We have built a platform for our clients: advisors, lending institutions, insurance companies, and individuals. To support their needs, we must be nimble and create data products for whatever they need.”

Solution: ER/Studio Implementation

After a rigorous competitive evaluation process that considered various factors such as functionality, scalability, and user-friendliness, the team selected ER/Studio. ER/Studio was chosen for its comprehensive features, including entity relationship modeling, metadata management, data quality and governance tools, and scalability, which were crucial for FNZ’s data management needs.

How ER/Studio Transformed FNZ’s Data Management Strategy

Created Detailed Data Models

ER/Studio enabled FNZ to create detailed and accurate database data models. These models provided a clear blueprint of the data architecture, ensuring a comprehensive understanding of data structures and relationships.

Visual Data Mapping

ER/Studio’s visual data mapping tools allowed FNZ to map complex data relationships and dependencies easily. This visualization was crucial for integrating data from different financial institutions into a cohesive structure.

Centralized Metadata Repository

ER/Studio provided a centralized repository for managing metadata. The result was consistently described and easily discoverable data, facilitating better governance and compliance.

Data Quality and Governance

ER/Studio facilitated the implementation of data governance policies, ensuring data quality, security, and compliance. FNZ could define data standards and quality rules to maintain high data quality across its operations.

Audit Trails and Reporting

ER/Studio’s robust audit trail capabilities ensure transparency and accountability in data usage. This was particularly important for FNZ in meeting regulatory requirements and maintaining compliance with financial regulations.

Scalability and Performance

FNZ acquired smaller companies, adopted a Data as a Product (DaaP) approach, and expanded its B2C and B2B customer-facing services. Kilby chose ER/Studio over its rivals as it delivers better in these critical areas.

Results and Impact of Using ER/Studio

FNZ’s adoption of ER/Studio for data modeling and governance significantly enhanced its data management capabilities. By providing a comprehensive and scalable solution, ER/Studio helped FNZ overcome its data challenges and empowered its investment platform, instilling a sense of inspiration and confidence in the audiences it serves.

Kilby said, “By providing a comprehensive and scalable solution, ER/Studio helped us supply the information our developers need to build our data products.”

Benefits of Implementing ER/Studio

Enhanced Data Quality

• Consistent Data Standards: By leveraging ER/Studio’s data modeling capabilities, FNZ could enforce consistent data standards across all integrated databases. This consistency led to improved data accuracy and reliability.
• Reduced Errors: The thorough documentation and structured approach to data modeling helped minimize data errors, ensuring that all data used in data products, financial analyses, and reports were of the highest quality.

Improved Compliance

• Regulatory Adherence: ER/Studio’s comprehensive metadata management and audit trails enabled FNZ to comply with stringent financial regulations. This compliance was crucial for maintaining the trust and confidence of their clients and regulatory bodies.
• Detailed Reporting: ER/Studio enhanced FNZ’s ability to generate detailed compliance reports quickly and accurately, helping it meet regulatory deadlines and requirements more efficiently.

Operational Efficiency

• Streamlined Data Integration: ER/Studio’s data mapping and modeling tools streamlined the process of integrating data from newly acquired companies, reducing the time and effort required to bring new data sources online.
• Enhanced Decision-Making: Financial advisors and analysts benefited from quicker access to high-quality data and improved data products, enabling faster and more informed decision-making.

Scalability

• Handling Growth: Having ER/Studio helped Kilby model their data through several mergers and acquisitions. This scalability ensured that FNZ continued to serve its customers despite the demands of merging data from numerous databases.
• Future-Proofing: ER/Studio’s flexible and adaptable data models ensured that FNZ was well-prepared to handle future data requirements and technological advancements.

Optimized Performance for Building Data Products

• Faster Data Access: The structured and well-documented data models created with ER/Studio improved development productivity, allowing FNZ to produce better data products faster.
• Improved Client Services: Faster data access translated to better service for FNZ’s clients, as financial advisors could quickly generate reports and insights needed for client consultations and decision-making.