Edelweiss AMC cuts costs & boosts agility with Snowflake AI Data Cloud

Edelweiss Asset Management Company has completed a major data infrastructure upgrade using Snowflake's AI Data Cloud, enhancing operational agility and streamlining investor interactions.

Edelweiss AMC previously faced challenges with legacy online transaction processing databases, fragmented data silos, and delays in integrating new data sources. The transition to Snowflake, facilitated by NuSummit, has unified the company's data into a single, cloud-native environment. As a result, Edelweiss reports faster Net Asset Value and benchmark reporting, with employees across departments having near-instant access to structured and governed data.

The company states that the modern platform enables automation of numerous data workflows and expedites implementation of analytics and artificial intelligence models within asset management. This evolution is said to support enhanced risk management, stronger security and governance, improved regulatory compliance, and faster reporting to stakeholders.

New efficiencies have been realised with the use of Snowflake's parallel processing and query optimisation, significantly reducing end-of-day processing times from eight hours to under two, according to Edelweiss AMC. Management information system reports are now prepared five hours before business hours begin, and beginning-of-day processes are expedited for timely reconciliations and smoother operations. The company has also reported a 50% reduction in data warehousing costs owing to Snowflake's pay-as-you-use model, and the optimisation of cloud storage expenditure by paying only for the computing resources used.

With this infrastructure, Edelweiss AMC has also improved its ability to understand customer behaviour and requirements. Internal teams can now deliver personalised investor experiences and provide faster client service. The company plans to use Snowflake's integrated AI features, such as Cortex AI, large language model support, and Snowpark ML in the future. This is intended to further embed intelligence directly into business processes, automate tasks, and produce deeper insights.

Snowflake's security and compliance features are cited as a core component of the project. The company has implemented governed data sharing and data clean rooms to support regulatory standards, as well as IP-based access controls which restrict database access to approved networks and VPNs. In addition, Edelweiss AMC has applied column-level encryption using its own encryption keys, ensuring that personally identifiable information and financial data are encrypted at the source and only accessible by authorised personnel.

This upgraded and secure environment allows Edelweiss AMC to engage in near-real-time data sharing and collaboration with partners, instead of relying on static reports. The company identified this as a way to speed up coordination across various functions, including supply chain and marketing.

"Technology is the engine that powers our business transformation, allowing us to stay innovative and strengthen our industry leadership. Migrating to Snowflake has been a transformative step for Edelweiss AMC, providing us with a secure, unified, and scalable platform foundational to our data and AI strategy. We have significantly boosted our team's agility and productivity by enabling data-driven decision-making across the organisation. This has allowed us to focus on personalised investment planning for our customers, fortify our partnerships, and reduce costs," said Suraj Prakash, Chief Technology Officer, Edelweiss AMC.

Vijayant Rai, Managing Director - India, Snowflake, said, "We are proud to enable Edelweiss AMC to create a modern investor experience backed by an intelligent data foundation. By providing seamless AI/ML integration, governed data sharing, and scalability, Snowflake is helping Edelweiss embed intelligence into its core business processes, driving growth, competitiveness, and superior service delivery. We are excited to support Edelweiss AMC in setting a new industry benchmark in the AMC market."

Edelweiss AMC has announced plans to continue extending its use of Snowflake's AI Data Cloud. The company intends to build predictive models using historical transactions and market trends, which could forecast fund flows, optimise liquidity planning, and bolster risk management efforts. There are also plans to expand into creating personalised recommendation engines to increase customer engagement and cross-sell opportunities.