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Snowdrop: Enriching transactional data at scale to foster global financial transparency and trust

Google Cloud Results
  • 6x faster go-to-market with AI-assisted automation and seamless global scalability

  • 40% improvement in data accuracy by using Google Places for hyper-localized information on small, independent businesses

  • 1.47 billion transactions processed daily with cost-effective, self-managed infrastructure scalability

  • 100,500x more merchants in Snowdrop’s system, resulting in more information and accuracy for end customers

  • Up to 15% increase in merchant-to-transaction match rate

Snowdrop's advanced Merchant Reconciliation System (MRS) API, powered by Google Cloud, fosters transparency and trust between financial institutions and their customers, and enables a smooth digital banking experience.

Untangling messy transactional information with geospatial data

Some merchants are difficult to trace manually because of their limited presence online. With Google Maps Platform geolocation data, we’ve increased the number of small merchants we can recognize within our system by hundreds of thousands, resulting in a 10-15% increase in our merchant-to-transaction match rate.

Daniel Ritchie

Product Director, Snowdrop

Ever looked at your bank statement and felt confused by some of the transaction information? Behind each transaction we make as consumers is a complex web of point-of-sale servers, middleware, payment processors, and banks, not to mention merchants with trade names that can differ from how customers identify them. The result is data that’s difficult to understand. Snowdrop Solutions Ltd. is on a mission to solve this customer experience challenge for financial institutions by enriching their transactional data with information that clarifies for end users—once and for all—who they’ve transacted with. 

As a Google Cloud Partner with a focus on Google Maps Platform since 2013, Snowdrop understands the role of geospatial information when it comes to data enrichment. When the business focused on developing its advanced transaction data enrichment solution for financial institutions in 2017, it adopted Google Maps Platform to support its merchant reconciliation technology.

Notably, Snowdrop chose the Places API to help incorporate more merchants into its system. This API pulls up localized merchant information and couples it with details manually scraped from their websites, unlocking more accurate transaction information for specific clients and their end customers, no matter where they are.

Next, to further evolve its solution, the company embarked on a full migration to Google Cloud. The goal: to achieve greater platform performance and stability, improved accuracy of merchant matches, and seamless global expansion. 

Scaling globally and cost-effectively with faster go-to-market

Snowdrop often hit a ceiling when it tried to launch its Merchant Reconciliation System (MRS) API into new regions or onboard new clients with a large volume of transactions. These limitations prompted the company's migration to Google Cloud, chosen for its global reach and scalability.

Snowdrop now uses Cloud Storage to house all of its unstructured data, enabling the team to easily and quickly deploy its data warehouse of choice, BigQuery, in new regions and scale it to accommodate large volumes of transactions when needed. Integrating BigQuery with Vertex AI also automates aspects of the manual background research previously required to inform Snowdrop’s merchant reconciliation technology.

We’ve scaled significantly without spending significantly more because our infrastructure is flexible and efficient in how it charges us only for resources used. This means we can trickle down our cost-efficiency to our users by producing high-value solutions that are more affordable for them.

Daniel Acosta

Head of Technology, Snowdrop

“It would take months of research into new regions to see what independent businesses are there and add that information to our database. That’s now an AI-assisted, automated process that pulls data from Google Places, while Vertex AI adds components and checkpoints to validate our merchant matches and ensure the results are accurate,” explains Daniel Acosta, Head of Technology at Snowdrop. 

Previously, Snowdrop required 90 days to manually ingest the necessary information to support new clients in new regions. Now, it can have the necessary data ready for launch within a couple of weeks, with 40% improved accuracy. “Google Maps has the most comprehensive point-of-interest database in the world, so taking advantage of it alongside Google Cloud AI means we have highly localized, relevant information to improve our merchant reconciliation scope worldwide,” says Acosta. 

At the same time, Cloud Service Mesh reduces the operational burden of deploying the MRS API across regions and servers, freeing up Snowdrop’s team from managing infrastructure while ensuring a faster deployment in new markets. As a result of a faster onboarding process, the business has continually scaled since migration. Previously, it processed an average of 20 million transactions a day. That number is now closer to 1.47 billion and counting. The company’s recent launch in the Google Cloud Marketplace is attracting attention from even more potential clients.  

Meanwhile, Google Kubernetes Engine provides an automated way to manage workloads and ensure cost-efficiency by scaling resources up and down as needed. “Google Kubernetes Engine promptly accommodates the increasing volume of transactions we’re processing, and our clients are impressed by the speed and accuracy of results they’re receiving. We’re a small team dealing with very large clients, but by leaning on Google Cloud, we have the scalability to do that,” adds Acosta. 

Leaning on AI and automation for ongoing success

In a couple of months, two brand new engineers will be certified thanks to the Google Cloud Partner Advantage Program. Collaborating with Google Cloud is great for morale: We’re always learning, accessing early demos of products and features, and better placed to continue innovating and developing our solution.

Daniel Acosta

Head of Technology, Snowdrop

By leaning on the native AI capabilities of its Google Cloud infrastructure, Snowdrop is continually increasing the number of merchants its system can recognize. “We have 100,500 times more merchants in our system compared to before our migration, and team members use Vertex AI to train our system to recognize and match these merchants with their respective transactions. The result is much more information and accuracy for our clients’ end customers, something that we wouldn’t be able to provide at this scale without automation,” explains Daniel Ritchie, Product Director at Snowdrop. 

Next, the company is looking at AlloyDB to bring new Gemini for Google Cloud capabilities to its solution while gaining data management efficiencies. Currently, Snowdrop uses BigQuery to analyze and process all its transactional data and exports reports to make sense of the information. The company now plans to use AlloyDB to ingest all granular data from its data warehouse and use it for its operations in a cleaned and processed format. This entails, among other things, translating the incoming information from global merchants who operate in different languages and alphabets, which Snowdrop plans to do with help from Gemini.

Snowdrop is also looking to use Gemini to generate embeddings across its broad spectrum of transactions and merchants’ data. In simple terms, each merchant might enable transactions across multiple touchpoints (such as online and in-person POS systems), and these transactions can appear differently in bank statements because they go through different payment providers’ systems. Because all this information is unified in Snowdrop’s Google Cloud infrastructure, the company can use Gemini to map it out and find similarities to associate transactions with their correct merchants more easily, quickly, and accurately.  

Finally, as a member of the Google Cloud Partner Advantage Training Program, Snowdrop ensures that its employees flourish along with the company. Aside from achieving business certifications, such as ISO27001, the partnership enables team members to become Google Cloud-certified and evolve their careers with direct support from the Google Cloud team. 

Snowdrop Solutions is a leading provider of advanced transaction enrichment solutions across EMEA and Asia Pacific. They help banks and payment providers transform complex transaction data into clear, actionable insights, enhancing customer experience and improving data quality across billions of transactions. Through partnerships with industry leaders, Snowdrop delivers innovative location-enriched solutions that shape the future of digital banking.

Industry: Technology

Location: United Kingdom, Spain, and Singapore

Products: BigQuery, Gemini for Google Cloud, Google Kubernetes Engine, Google Maps Platform, Vertex AIAlloyDB, AutoML, Google Cloud AI, Cloud Storage, Cloud Service Mesh

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