When choosing a piece of technology for your business, it is important to consider technical specs, features, and performance metrics. But that isn’t all that matters. Even though a product or solution may fit all of your technical requirements, it might not be a great fit for your bank or credit union. As an all-in-one data management and analytics platform, Daybreak is a uniquely strong contender on technical abilities alone, but it also offers features specifically engineered to answer the most prevalent and actionable questions that banks and credit unions currently ask, or should be asking themselves, every day. This is made possible through its built-in industry intelligence.

Industry Intelligence Increases Speed to Insights

Daybreak was developed specifically to help mid-market banks and credit unions compete, leveraging the same big data and analytics technologies and capabilities as the largest, leading institutions in the industry. We know that financial services organizations have a wealth of data—but not all of it is actionable, nor even accessible in its current state. We quickly break down data silos and integrate all the relevant data points from multiple systems; including internal and external, structured and unstructured.

It is Industry Intelligent because our experience knows the kinds of questions an institution needs to answer—that is why over 40% of the data in our model doesn’t exist in the raw customer data. These new data points are called Smart Features.

Over 40% of the data in the Daybreak model doesn’t exist in the raw customer data. It is engineered using Smart Features.

Data Enriched with Smart Features Provides Actionable Insights

One huge advantage that Daybreak offers banks and credit unions is automated data enrichment, through the use of Smart Features. Smart Features are newly calculated data points that didn’t exist before. Daybreak utilizes AI to generate these new data points which allow you to answer more questions about your customers than ever before. For example, Daybreak automatically converts unstructured transactional data into structured Smart Features—converting a long, confusing text string to a transaction category. A transaction that looks like this in the raw data…

CHASE CREDIT CRD CHECK PYMT SERIAL NUMBER XXXXXXXX

Is converted to this data point, which can be easily analyzed or used to filter and analyze:

Customer Number Account Number Destination Category Destination Name Recurring Payment
123 456 Credit Card Chase Yes

Another category of Smart Features are new values that are calculated based on existing data. For example, Daybreak’s AI scans transactional data and determine which branch is used most often by each individual. It can look at person’s home address and determine which branch is the closest to their home. The AI also scans transactional data for anomalies, and flags any unusual activities, which may indicate a fraud attempt, or a life change. For example, if an account suddenly stops showing direct deposits, perhaps that customer has changed jobs, or is in the process of switching to a different bank.

Since these Smart Features are automatically created, you can start asking actionable questions right away, without waiting for complicated analysis to be performed.

Daybreak has pre-built connectors to most of the major core systems, CRMs, loan and mortgage systems, and other heavily utilized financial industry applications. This means we can get access to your data faster, including granular daily transactional data, and automatically serve it back in a format that you can use to make data-driven decisions. We’ve figured out the difficult foundational part so you don’t have to spend months of development time building a data warehouse from scratch—you will begin getting insights right away.

Hourglass
Daybreak aggregates data from multiple sources, and allows you to receive actionable insights right away.

Scale your Team’s Industry Experience with Daybreak

One challenge that organizations face with any new initiative is how to transfer knowledge and collaborate across departments or locations. If one team member creates a useful analysis or process, it can be difficult to share with others who may want to look at the same type of information. Daybreak’s Query Wizard makes it easy to share intelligence across your business by providing pre-built queries for common banking questions and insights. We also update the pre-built queries regularly with new business-impacting questions as they are formulated. Lastly, in a click of a button, any query is available in SQL code, providing a huge head start to your IT team in more advanced work that they would like to do.

The Daybreak Advantage

Unlike other “one-size-fits-all” technology solutions, Daybreak has financial industry intelligence and AI built into the platform itself. It allows banks and credit unions easy access to relevant data quickly, and without investing excessive time and money to make it happen. With Daybreak, business users have access to actionable data, enriched with Smart Features, in order to start answering impactful questions they’ve never been able to before. Your entire organization can utilize industry-specific insights and collaborate on data analysis.

Daybreak is a game-changer for banks and credit unions. Start making better business decisions by effectively leveraging your data today.