Intelligent CIO APAC Issue 16 - Page 72

INDUSTRY WATCH
Australian merchant payment platform fintech provider , mx51 , is utilizing Snowflake to support the company ’ s analytics and customer service activities .

Australian fintech mx51 boosts analytics capabilities with Snowflake

Snowflake , the Data Cloud company , has announced it has been selected by merchant payment platform fintech provider , mx51 , to support the company ’ s analytics and customer service activities .

Australian-based mx51 provides a suite of white-label services to banks and finance institutions which allows them to offer in-store , phone and online payment capabilities to their customers .
Steven Hadley , Chief Product Officer at mx51 , said when the company was first established its small team of staff relied on little more than a series of relational databases to store data generated by its microservices .
“ Back then , a key driver for us was wanting to have a better ability to run queries ,” he said . “ Prior to Snowflake , if you wanted to run queries across multiple databases there was no easy way for this to be done .”
The hunt for an alternative
The mx51 IT team began by evaluating a range of alternatives for a new data platform . Hosting an on-premise instance of a Postgres database was also considered , however the management and maintenance overheads were deemed to be too high .
“ At the end of the day , it became clear that Snowflake was the best fit for our requirements ,” said Hadley . “ We
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