Revolutionizing Finance: Data Management Solutions and Strategic Data Migration with Snowflake and AWS

Learn how an AWS and Snowflake architecture built with Hamelin and Prism can help FSI organizations optimize operations and open new avenues for innovation.
November 9, 2023
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In the swiftly evolving realm of financial services, managing data effectively is more than a technological requirement—it is a core business strategy. With the rise of AI/ML applications, such as real-time fraud detection and comprehensive customer insights (Customer 360), financial institutions face the immense challenge of processing vast volumes of data in a matter of milliseconds, which means that successful data management solutions hinge on leveraging modern data architecture organized around cloud data platforms like AWS and Snowflake. By understanding and predicting customer behavior, institutions can offer tailor-made solutions, thereby distinguishing their offerings in a crowded market.

Legacy Systems and AWS Integration

While AWS offers cutting-edge AI/ML capabilities like SageMaker, integrating these services with existing legacy systems often presents significant hurdles. Legacy systems, typically not designed for today’s voluminous real-time data, can create bottlenecks in scalability and performance. These systems, characterized by their siloed nature and limited interoperability, can increase the complexity and cost of migration to cloud services like AWS, impeding full utilization of their advanced functionalities.

Snowflake and AWS: Building Synergistic Data Management Solutions

Snowflake, a cloud-based data platform, stands out for its ability to aggregate data from various sources, breaking down traditional data silos. This feature becomes particularly powerful when combined with AWS’s expansive suite of tools. AWS’s prowess in cloud services, AI, and ML perfectly complements Snowflake’s data warehousing capabilities. This partnership not only provides a seamless solution for handling large volumes of real-time data but also enhances application responsiveness, crucial for fraud detection and generating real-time customer insights. 


Integrated Data Management Solutions with Snowflake and AWS

By leveraging Snowflake alongside AWS, institutions can efficiently ingest, process, and analyze financial data. Snowflake’s design for the cloud optimizes data storage and querying, enabling fast access to and analysis of financial data, from transaction records to market trends. AWS’s infrastructure enhances this process, ensuring that data flow into Snowflake is both smooth and secure.

Cost Efficiency

Transitioning to Snowflake and AWS can revolutionize cost management in data processing. Snowflake’s credit-based system charges for compute and storage separately, allowing businesses to optimize resource usage and control costs. AWS complements this with its pay-as-you-go model, charging for specific services used, thus eliminating unnecessary spending on idle resources. This model is particularly beneficial for businesses looking to scale their operations dynamically without committing to significant upfront investments. 

Modernized Data Stack

In today’s data-centric financial sector, the switch to a modernized data stack like Snowflake and AWS equates to a strategic advantage. This transition allows businesses to leverage advanced analytics, machine learning, and AI, driving innovation and securing a competitive position in the market. The flexibility and scalability provided by these platforms ensure that financial institutions can respond quickly to changing market conditions and customer needs.

Simplified Data Migration with Prism and Hamelin

Transitioning to Snowflake involves not just a technological upgrade but a strategic transformation of data handling. Our proprietary tools, Hamelin and Prism, play key roles in this transition by simplifying the migration and ensuring data quality.


Hamelin is the cornerstone of our data migration strategy, offering a sophisticated yet user-friendly automation tool that takes the heavy lifting out of data importation. With its low-code interface, Hamelin empowers users to schedule and manage the transfer of data from various formats such as txt or CSV files directly into Snowflake. It leverages Airflow for orchestrating these processes and an Excel configuration file to streamline pipeline management, effectively bypassing the need for manual data entry.


Once Hamelin has securely placed the data within Snowflake’s schemas and tables, Prism steps in to ensure that the integrity and accuracy of this data are beyond reproach. By conducting thorough comparisons between legacy systems and the new Snowflake environment, Prism highlights any discrepancies, safeguarding the fidelity of the migrated data.

Benefits of using Both together

Together, Hamelin’s automation and Prism’s meticulous validation provide a robust framework for a reliable and efficient migration journey. These tools are instrumental in not only enhancing data integrity and security but also in fostering a collaborative and transparent approach amongst all stakeholders involved in the migration process.

Building Future-Proofed Data Management Strategies with Hakkōda

Adopting a Snowflake and AWS architecture signifies a leap towards a scalable, lasting, and cost-effective data management strategy. Hakkoda’s expert data teams, bolstered by tools like Prism and Hamelin, leverage knowledge from across the modern data stack to ensure a secure and efficient transition that allows financial institutions to fully harness the power of their data assets. This shift not only optimizes operational efficiencies but also opens up new avenues for innovation and growth in the competitive landscape of financial services.

Ready to learn more about how Hakkoda can help your organization future-proof its data strategy? Let’s talk.

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