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Data-Driven Finance

Innovative use of technology to improve and automate the delivery of financial services.

Let your data create value

AI-Driven Fintech Services

Managing huge amounts of financial data — securely, efficiently, and thoughtfully.

Financial Data Integration
and Visualization

Unite data from legacy systems, different standards, and APIs. Artificial Intelligence automatically harmonizes data coming from different third-party sources, ensuring real-time data syncing. So, you get financial data in real-time, and it's visualization — for easy decision-making.

Fraud and Anomaly
Detection

Prevent unauthorized activities that can lead to data breaches. AI-based systems for real-time fraud detection and prevention identify unusual transaction patterns, verifying user identity, and implementing anti-money laundering (AML) measures.

Fintech Scalability
and Performance

Scale your infrastructure, managing large volumes of transactions and ensuring the system’s stability. We analyze how the existing system processes data, optimize queries and redesign the cloud infrastructure for cost-effectiveness and improved performance. Efficiently written queries consume less computational resources.View page

Big Data Analytics

Derive insights from large volumes of financial data. AI algorithms — in machine learning and deep learning — are adept at processing and analyzing vast amounts of data much more quickly and accurately than traditional methods.

Internal Process Automation

AI-driven tools automate data entry, transactions, and report generation; analyze workflows to suggest improvements and automate unstructured data processing. AI also processes the data within the ERP system: financial entries, payroll data, and purchase orders.

Predictive Analytics for
Financial Marketing

Enhance marketing effectiveness by predicting customer preferences. AI algorithms, particularly those in machine learning, analyze historical customer data. They segment customers into distinct groups and predict the outcomes of different marketing strategies.

Benefits of Data-Driven Finance

Benefits of e-commerce using our services and solutions:

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Informed and timely decisions
for investments.

Reducing manual efforts and
improving operational efficiency.

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Acting on opportunities
and threats swiftly.

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Higher customer satisfaction
and loyalty.

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Greater accuracy in reporting
and analytics.

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Gaining immediate insights
into market trends.

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Reducing the risk of non-compliance
and penalties.

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Enhancing overall
operational efficiency.

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Boost Work Efficiency and Accuracy with Expert Machine Learning Support.

Get in Touch Now!

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Cases of Using Artificial Intelligence and Machine Learning

Check out a few case studies that show why DATAFOREST will meet your business needs.

All Success Stories

Finance

Web Applications

Fintech

RedLeo: The All-in-One Financial Platform to Manage Business Payments.

Dataforest created a robust financial services platform named RedLeo to manage finance transactions. The platform, RedLeo, featured IBAN, SEPA, SWIFT payments, virtual cards, expense tracking, and team fund management. With TeslaPay and Stripe APIs, two-factor authentication, currency exchange, and enhanced security, Dataforest delivered a smooth, scalable solution fit for start-ups to enterprises.

top providers integrated

97%

payment processing success rate

View case study

RedLeo: The All-in-One Financial Platform to Manage Business Payments.

Finance

Web Applications

Fintech

API Integrations for Chargeback Management Tool

This solution transforms merchant refund management by automating alerts, streamlining disputes, and enhancing fund retention. With robust API integrations, DATAFOREST’s solution offers fast chargeback handling, automated refunds, and comprehensive analytics. Merchants benefit from fewer chargebacks and lower revenue loss, with 94% client satisfaction in the first three months.

94%

satisfied clients in the first three months post-release

top providers integrated

View case study

API Integrations for Chargeback Management Tool

All Success Stories

Steps
Towards Good Development

These data engineering development stages ensure that solutions are well-designed, thoroughly tested, and aligned with business objectives. 

How we help companies?

Step 1 of 7

Initial Project Assessment and Definition

In the early phases of our data engineering development process, we engage in a free consultation to gauge project compatibility. During the discovery and feasibility analysis, we adapt to your needs, whether it's high-level requirements. We gather information to define project scope through discussions, including feature lists, data fields, and solution architecture. We craft a project plan to guide our progress, reflecting our dedication to achieving project goals and delivering effective data engineering solutions.

Step 2 of 7

Discovery

So, you have finally decided that you are ready to cooperate with DATAFOREST.

The discovery stage involves delving into the details of the project. Data engineers gather requirements, analyze existing data systems, and understand the needs of the business. This step is crucial for laying the groundwork for development, as it ensures that the project aligns with business goals and user needs.

Step 3 of 7

Tech Design and Backlog Planning

In this stage, the technical architecture and design of the solution are formulated. Data engineers plan how data will be collected, stored, processed, and presented. Simultaneously, the project backlog is created — a list of tasks and features to be developed. This backlog is prioritized, ensuring that high-priority items are addressed first.

Step 4 of 7

Development Based on Sprints

Development takes place in iterative cycles known as sprints. During each sprint, the development team tackles tasks from the backlog. The team focuses on coding, testing, and integrating the components. At the end of each sprint, a functional part of the solution is ready for review.

Step 5 of 7

Project Wide QA

Quality Assurance is an ongoing process that permeates the entire project development lifecycle. It ensures rigorous testing, identification, and resolution of any bugs or issues to guarantee the solution's smooth operation, compliance with requirements, and alignment with quality standards. The solution is prepared for release as QA activities persist and necessary adjustments are continuously implemented.

Step 6 of 7

Deployment and Rollout

The deployment phase involves releasing the solution to the production environment, making it accessible to users. It requires careful planning to ensure a seamless transition and minimal disruption. After deployment, the rollout phase begins, involving training for users and ongoing support to address any hiccups.

Step 7 of 7

Support and Continuous Improvement

In the final stages, we ensure ongoing excellence. We guarantee optimal performance and swiftly address any issues. Simultaneously, our feedback process empowers us to continuously enhance the solution based on user insights, aligning it with evolving needs and driving continuous innovation.

What Data Science technologies do we use?

Pandas

SciPy

TensorFlow

Numpy

ADTK

DBscan

G. AutoML

Keras

MLFlow

Natural L. AI

NLTK

OpenCV

Pillow

PyOD

PyTorch

FB Prophet

SageMaker

Scikit-learn

SpaCy

XGBoost

YOLO

All publications

November 27, 2023

13 min

Data Science Illuminates Finance

November 20, 2023

14 min

Financial Risk Management in 2024: Walking on the Tightrope

April 3, 2023

17 min

Big Data Analytics in Finance: Navigating Data for Financial Success

September 22, 2023

19 min

Digital Transformation Trends in Insurance — Customer Expectations

December 6, 2023

12 min

Data Science in Insurance: A Healthy Person Approach

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All publications

Still have questions about data science services?

How does data engineering help finance make better investment decisions or manage risks?

Data engineering helps finance professionals collect, process, and integrate diverse financial data, enabling them to access comprehensive and accurate information for making better investment decisions and managing risks effectively.

What are some significant data engineering challenges specific to the finance industry?

Some primary data engineering challenges specific to the finance industry include handling large and complex financial datasets, ensuring financial data security and privacy compliance, and integrating data from disparate sources while maintaining accuracy and real-time processing. Also, there are challenges in data science for finance.

How does data engineering contribute to regulatory compliance in the finance industry, such as data privacy or anti-money laundering regulations?

Data engineering in finance solutions ensures regulatory compliance in the finance industry by implementing robust data governance, data lineage tracking, and data quality processes, ensuring the secure handling and seamless integration of data to meet data privacy and anti-money laundering regulations. It’s the work for data science and finance collaboration for risk analytics in banking, e.g.

What are the benefits of implementing data engineering solutions for financial institutions regarding operational efficiency and cost savings?

Implementing data engineering solutions for financial institutions results in improved operational efficiency and cost savings by automating data processes, streamlining data integration, and optimizing data storage, leading to reduced manual efforts, faster data access, and minimizing infrastructure costs.

Are there any emerging trends or innovations in data engineering specifically impacting the finance industry?

Yes, emerging trends and innovations in data engineering, such as real-time data processing, the use of distributed ledger technology (DLT) like blockchain for secure transactions, and the adoption of cloud-based data solutions, are explicitly impacting the finance industry by enabling faster, safer, and scalable data management and analytics.

Do data engineering solutions work with big data in finance?

Data engineering solutions handle big data in the finance industry by employing advanced data processing techniques, distributed computing frameworks, and efficient data storage systems, ensuring that large volumes of financial data are ingested, processed, and analyzed swiftly within big data analytics in finance.

What is financial data aggregation?

Financial data aggregation is collecting and consolidating financial information from multiple sources into a unified view, facilitating comprehensive analysis and reporting.

How is data transforming the financial industry, and what are the key driving factors behind this transformation?

Big data finance is revolutionizing how financial institutions manage and analyze vast information. The synergy between finance and data analytics is driving more innovative investment strategies. The role of big data in the finance industry is expanding as businesses seek more insights from their data.