Case Study: Neocova achieves actionable banking insights with MongoDB Atlas

Neocova uncovers $5 million in revenue with MongoDB

Neocova, a fintech startup, aimed to help community banks overcome their reliance on legacy technology and gain access to competitive data analytics. Their challenge was to ingest messy data from multiple sources with different structural frameworks and build a front-end to provide actionable insights. They partnered with MongoDB and used its MongoDB Atlas and MongoDB Compass products to address this.

The solution implemented by MongoDB provided a flexible, distributed document-store database. This enabled Neocova to securely unify and store bank data, creating an application layer for analytics. The results were highly impactful, with one bank client discovering it was missing an estimated $5 million in annual revenue from lost merchant fee opportunities, a figure far greater than initially suspected. MongoDB's tools helped Neocova dramatically shorten the path between data and revenue for its banking customers.

Neocova