Case Study · Fintech Data Stack
How Banxware Saves €140,000 a Year Thanks to a Flexible Data Pipeline
With a data stack that integrates Fivetran, dbt, Snowflake, and Tableau, the fintech startup Banxware is saving a six-figure sum through automation—money that would otherwise have been spent on hiring additional data engineers.
This case study was originally published on fivetran.com.
140,000 €
Annual savings from automating the data stack
Democratize Access to Capital
Founded in 2020, the fintech startup Banxware uses its end-to-end solution to create fast, flexible, and straightforward financing options for businesses, independent of banks. Digital platforms, marketplaces, payment service providers, and other aggregators integrate the financing solution via API or as referral partners, thereby giving their merchants direct access to capital.
As Banxware grew, so did its need for meaningful data to inform business decisions, as well as for an IT infrastructure that could reliably support this flow of data.
About the Customer
Banxware
Within the Banxware ecosystem, platform merchants benefit from fully digital processes and loan approval and disbursement within 15 minutes, with full control over the loan amount, purpose, and term. Integration into platforms is achieved via a white-label API without any programming effort, in compliance with all applicable local regulations, including KYC and AML. Alternatively, a referral partnership with a dedicated landing page is available, which can be activated within one day.
Banxware secured its first partner in Lieferando, Germany’s largest food delivery platform. Its partners now include everstox, Payone, E-Commerce One, TeleCash, Qonto, AGICAP, Fyrst, ALPHA POOL, and Forto, among others.
Key Figures at a Glance
140,000 €
Annual investment savings compared to hiring additional data engineering staff
300+
Maintenance-free Fivetran connectors—the widest selection on the market (as of October 2023)
99,9%
Fivetran Uptime: Reliability and Resilience Across the Entire Data Stack
15 min.
From credit approval to disbursement to Banxware’s platform merchants
Project Requirements
The Challenge: Manual Data Maintenance Is Reaching Its Limits
As the company grew, Banxware’s need for meaningful data to serve as a solid foundation for business decisions increased, and with it, the pressure on the IT infrastructure.
- Recruitment: Recruiting suitable personnel for the manual maintenance of data streams proved to be a difficult challenge.
- Multiple data sources: A reliable flow of data from various sources into the data warehouse had to be ensured on an ongoing basis.
- Migration: The transformation had to be migrated from Snowflake to dbt, including knowledge transfer rather than a simple handoff.
- Strict Compliance: As a fintech company, every solution must comply with banking regulations, security rules, and data protection regulations.
Our Strategic Approach
Why Fivetran
Kemb supported Banxware in implementing and migrating the transformation from Snowflake to dbt, providing coaching rather than simply handing over the project. Fivetran was identified as the appropriate ELT solution for several reasons.
01 Safety
Governance & Data Protection
Integrated security features provide the critical safeguards required by banking regulations and data protection regulations in the financial market.
02 Range
300+ connectors
The largest selection of maintenance-free connectors on the market already covers all the sources that Banxware connects to, as well as others that will be added in the future.
03 Location
EU Hosting
For data protection reasons, we chose a hosting solution based in the European Union on AWS.
04 Reliability
Flexible & Reliable
Pipelines automatically adapt to changes in source APIs and schemas, with 99.9 percent uptime.
★★★★★
“We automate as much as possible. Fivetran and its entire ecosystem enable us to do this while complying with all governance, security, and data protection requirements.”
Nicolas Kipp, Co-Founder and CRO at Banxware
Today’s Setup
Easy Management and Scalability
Using Fivetran connectors, Banxware now automatically transfers data from Postgres, S3, DynamoDB, and HubSpot to the Snowflake data warehouse, serving as the foundation for insightful reports and dashboards in Tableau. All employees have access to the data they need, and additional analyses can be easily added.
This benefits the entire company: The sales department identifies key channels and develops strategies, while the customer support team analyzes satisfaction levels and workload. Currently, Banxware is also mapping its marketing funnel based on Google Analytics data and plans to implement additional dbt models, including using Fivetran transformations for dbt Core.
Project Results
The Key Results of the Collaboration
No additional data engineering team
Under the new setup, Fivetran takes on the tasks that would otherwise have required Banxware to hire additional engineers.
Reports for All Teams
Sales, customer support, and other departments make data-driven decisions thanks to insightful Tableau reports.
Compliance Ensured
Fivetran’s built-in security features ensure compliance with banking regulations, security policies, and data protection rules.
Future-Proof Data Stack
Fivetran, dbt, and Snowflake together provide a flexible, scalable solution that goes beyond mere time and cost savings.
Data Stack
An Overview of the Data Stack
Sources: Postgres, S3, DynamoDB, HubSpot
Pipeline, ELT: Fivetran & dbt
Target, Data Warehouse: Snowflake
BI Tool, Reporting: Tableau
★★★★★
“As a startup building out its business intelligence capabilities, you might ask yourself: Should I hire several data engineers to build this out, or should I hire a data analyst and use Fivetran and Snowflake for this?”
NK
Nicolas Kipp
Co-founder and CRO, Banxware
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