Snowflake has partnered with epiFi, a neobanking startup. The partnership will utilise Snowflake’s cloud data platform to consolidate epiFi’s data in a safe and reliable data environment as well as real-time insights to help customers make data-driven financial decisions.
“Our top priority as a fintech company is to ensure the safety of our customers’ data. Snowflake’s track record in providing secure and seamless multi-cloud integration solutions made Snowflake our first choice as a partner for our growth. Snowflake’s flexible architecture allows us to deliver optimal performance with data elasticity and scalability. As a startup, Snowflake’s usage-based pricing also works for us since we only pay for the storage and compute resources that we use, giving us the maximum bang for the buck,” said Arvind TP, epiFi’s founding member.
epiFi, a tech startup for digital natives, is on a mission to help consumers in India understand their finances, maximise their savings, and spend intelligently. With the help of an innovative and secure platform, epiFi will consolidate the user’s financial services and products in one interface for a frictionless banking experience. Using the insights derived from the user’s activities, brand interactions, transactions and user feedback, epiFi will offer guidance and direction to Indian consumers in managing their finances.
“Data sovereignty is critical for us in India, and Snowflake’s availability on AWS in Mumbai allows us to keep our data local,” added Arvind TP. “With Snowflake’s cloud data technology, we are now able to significantly shorten the time to business decisions and promptly respond to business needs. Our team is also better equipped to provide personalised and flexible service and introduce new features to our customers.”
Vimal Venkatram, Snowflake’s Country Manager for India said, “Data security, data localisation and smooth integration are critical factors for epiFi’s success. Snowflake’s cloud data platform provides all the solutions that enable epiFi to work with various financial institutions. We are delighted to be working with epiFi in their digital transformation journey.”
“India’s consumer banking sector is primed for the next digital innovation. epiFi’s integrated and data-driven platform presents great promise to improve the banking experience of a new breed of tech-savvy consumers. We are looking forward to an exciting journey in the Indian fintech sector through our partnership with epiFi,” said Geoff Soon, Snowflake’s Managing Director for South Asia.
