As a financial and insurance services leader in Sweden that provides pensions, healthcare insurances, consumer loans, and mortgages, Skandia has nearly 2 million customers, of which over 80% are owners of the company through their individual pension funds. With a history dating back to 1855, Skandia runs and operates a high volume of their business on their own on-premise technology platforms. These pose challenges for data quality and security, which led Skandia to reach out to Solita to help them design and build the foundation of their future cloud data warehouse and data architecture.
Regulatory reporting one of several main drivers behind a future-proof data platform
Skandia was recently looking to set up and implement a new cloud-based data platform that would easily scale with their business needs and help automate their reporting processes.
The main reason for this fundamental shift away from their current on-premise solutions was due to the rigorous compliance procedures that Skandia follows because of regulatory obligations. This creates a need to be able to quickly react to changing requirements when it comes to new laws and other governmental factors.