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July 10, 2018
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How O2’s Financial Data Hub is Managing Financial Reporting and Ensuring Compliance

We’ve just published our most recent case study! This story gives an in-depth look at how O2 has created a unified Financial Data Hub to provide consistent highly reconciled granular information, accessible by self-service, for financial regulatory reporting and business intelligence.

O2 is the commercial brand of Telefónica UK Limited, a leading digital communications company owned by Telefónica S.A. With over 25 million customers, O2 runs 2G, 3G and 4G networks across the UK, as well as operating its nationwide O2 Wifi service.

Financial Data Hub

The company has embarked on a Big Data journey to create a unified data hub. The goal for the new Financial Data Hub was to reduce the number of disparate data sources, simplifying the overall ecosystem and reducing ongoing costs. Additionally, O2 needed to comply with new International Financial Reporting Standards (IFRS 15) to mitigate security risks and avoid significant fines.

Hybrid Big Data Solution

The infrastructure provisioned by Hortonworks acted as the foundation layer for Accenture to run end-user applications. The data architecutre consisted of Hortonworks Data Platform (HDP®) and Hortonworks Data Flow (HDF). HDP is providing a core repository to run various analytics and HDF is streaming specific datasets to the various O2 reporting warehouses.

Together with Accenture, Hortonworks planned and implemented the end-to-end delivery of the new, unified Financial Data Hub for O2. It would provide consistent highly reconciled granular information, accessible by self-service, for financial regulatory reporting and business intelligence.

 “The Financial Data Hub is a testament to what can be achieved when the business and IT collaborate to deliver significant results and huge steps on our transformation journey,” said Stephen Devereux, Head of Business Intelligence at O2.

Driving Business Value

Through partnering with Hortonworks, O2 has achieved tremendous results:

  • The Financial Data Hub now processes 20 million records daily, fully reconciling each and auditing at the source.
  • O2 is able to meet the IFRS15’s 99.9 percent daily accuracy requirement.
  • Mitigated security risks and avoided significant fines.
  • Enabling data access in days instead of weeks.

These results have provided significant business value and helped create a better customer experience.

Looking to the Future

The project of building a unified Financial Data Hub was a resounding success. The Hub’s support stretches far beyond basic accounting and has led to the migration of additional environments into HDP.

The platform is now delivering the foundations needed for O2 to achieve its vision of being a truly data-driven organization. The hybrid big data architecture is scaled to grow with the business’ needs: ensuring technical and business gains long into the future.

To read the full story of O2’s use case, visit: https://hortonworks.com/customers/o2/

 

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