Streamlining Transaction Monitoring
From hours to minutes: how Fairway streamlined transaction monitoring with Alteryx
When Fairway needed a faster way to review financial transactions, Continuum worked with EWG to connect its transaction data directly into Alteryx.
Setting the scene
For Fairway, reviewing financial transactions is an important part of its day to day operations. But the process of getting that data ready for review was largely manual.
Each day, transaction data had to be downloaded separately for every account. The approach worked, but reporting requirements started to evolve.
Fairway wanted to reduce that manual effort without compromising accuracy or compliance.
Having worked with Fairway for many years, Continuum understood the firm's existing processes and the way its teams used Alteryx. Together it was recognised the need for a more streamlined and scalable approach.
The challenge
The challenge was straightforward: how could Fairway move from manually downloading transaction data every day to having that information available directly within its existing Alteryx workflows?
The existing process required repeated downloads across accounts, consuming valuable time that could have been spent on higher value analysis and decision making. It also introduced unnecessary opportunities for delays or oversight.
As Fairway's reporting requirements evolved, Continuum recognised that simply making the existing process faster would not be enough.
How Continuum approached it
The solution came through collaboration with EWG.
EWG already had an API providing access to account balances and transaction data. Continuum worked with EWG to connect that API into Alteryx through the EWG Alteryx Connector, which Continuum had created for EWG.
This meant Fairway could bring its EWG data directly into Alteryx workflows rather than downloading it manually each day.
The connector handles the data retrieval, allowing Fairway's existing Alteryx processes to work with the information automatically.
The approach also meant Fairway did not need to introduce a new platform or completely rethink the way its team worked. The data was simply made available within a tool they were already using.
For Continuum, that was an important part of the solution: using automation to remove the repetitive work while keeping the process familiar to the people using it.
A straightforward implementation
The implementation was deliberately simple.
EWG managed the API permissions and security configuration, while Continuum handled the Alteryx connector integration. Fairway's IT team only needed to be involved for a short implementation session.
From start to finish, the implementation took approximately one hour.
Once connected, Fairway was able to build and customise its own Alteryx workflows without needing a technical development background.
As EWG's CTO Denis Philippe described it:
"This is a great example of what can be achieved when providers collaborate around the client rather than working in isolation."
That collaboration was central to the project and ensured the implementation was smooth from the outset.
The results
The difference was immediate.
Processes that had previously taken hours each day can now be completed in minutes.
By automating the collection of transaction and balance data, Fairway has reduced manual processing and can get information into its workflows much more quickly.
The solution has helped Fairway achieve:
· Elimination of manual downloads
· Direct integration of directly into automated workflows
· Faster reporting and improved access to insights
· Reduced manual processing and fewer errors
· More time for higher-value analysis
More importantly, the team no longer needs to spend hours preparing information before it can be analysed.
More time for analysis
Removing the manual downloads has changed where the team's time is spent.
Instead of repeatedly collecting and preparing transaction data, Fairway can focus more of its time on reviewing the information, analysing data, identifying trends and supporting stronger business decisions.
Because the data now flows directly into Alteryx, the same approach can also be adapted as Fairway's requirements change. Ad hoc requests and new reporting needs can be incorporated into existing workflows rather than creating another manual process.
As EWG's CTO put it, the connector acts as a "value amplifier" by making it easier for clients to connect EWG's services to the tools and processes they already use.
For Fairway, that means less time spent in manual processes and more time focused on analysis and reporting.
In summary
What began as a simple problem, manually downloading transaction data every day, became an opportunity to rethink the process.
By bringing EWG's API directly into Alteryx, Continuum helped Fairway replace hours of repetitive data collection with an automated workflow that can deliver the same information in minutes.
The project also demonstrates what can happen when technology providers work together around a client's existing processes. EWG provided the data connection, Continuum integrated the connector, and Fairway gained a more streamlined and scalable approach to transaction monitoring.