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Analytics Internship – Master of Engineering in FinTech

at Apiture • Wilmington, NC

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Background

Financial institutions have access to a tremendous amount of data about their customers.  American Banker estimated that 12 million petabytes of information passed through the financial services industry in 2018.  If this data could be harnessed properly, financial institutions would know more about their customers’ financial lives than the customers know themselves.  But, for the most part, financial institutions don’t know what data they have.  And they don’t know how to use that data to achieve their business objectives. This is especially true for smaller banks and credit unions, who have smaller departments and fewer employees to focus on data.

Apiture Xpress, a digital banking platform, is the nexus of much customer activity-related data from a number of different sources.  We see bank customer actions on our platform related to account activity, payment transactions, funds transfers, aggregated accounts, user online/mobile behavior, and more.

We describe the power of this data to our clients.  But we need to be able to show them what they can actually do with the data.  We are contemplating a new service where Apiture data scientists analyze the data available on the Xpress platform on behalf of clients, and deliver to them insights about their market (e.g. “Why is the bank down the street more attractive?”) and their customer base (e.g. “Why do my customers have high student debt?”).  Apiture would deliver succinct action plans of “things to do” to better engage with customers to drive growth (product promotions, etc.).  We are in the early stages of defining this new service.

 

Project Objectives

We’re looking for a creative business leader with data analytics experience to help structure our proposed new data analytics service.  At the end of the project, we will have a clear description of the new service, including its value to clients, an outline of activities required to deliver the service to clients, and examples of the output of the service we would deliver to clients.

The project owner will work directly with the Apiture Xpress product lead, who will ensure access to the right people at Apiture to meet project objectives.

 

Project Deliverables

  • Inventory of data available on the Apiture Xpress digital banking platform.
  • Inventory of data-related tools available to Apiture clients via the Xpress platform, and recommendations for other data-related tools we should make available.
  • Documented set of hypotheses around actionable insights Xpress clients could derive from available data using available tools.
  • Outline of what a client-specific engagement would look like. What is the approach?  What are the steps needed to deliver?  What is an example of output delivered to a client?  What type of Apiture employee is needed to deliver value: an engineer? a data scientist? a client success manager?
  • One test engagement with an actual client, using actual client data, following the approached defined earlier in the project.
  • Presentation of project results to Apiture’s leadership team.

 

Project Duration

The project is structured as an 8-10 week internship.

 

Apiture Overview

Apiture is on a mission to change the way the financial industry operates digitally by providing the integrations, capabilities, and resources that banks and credit unions have not had access to in the past. Offering two differentiated digital experience platforms, Apiture Xpress and Apiture Open, Apiture has developed innovative solutions that can be used by financial institutions of any size. Apiture products currently serve over 400 financial institutions within the United States market. Apiture is headquartered in Wilmington, North Carolina, with offices in Austin, Texas.