Cost Optimization & Continuous Compliance on AWS for Leading NBFC Player
Our client is amongst the prominent online lenders that operate in three major segments – consumer loans, SME lending, and commercial/corporate lending. With its launch following the acquisition of GE Money and the support of AION capital partners, the leading NBFC has grown to become a major player in the lending industry. The company offers a wide range of consumer loans, including personal loans, education loans, and used car loans. Its assets under management are set to cross ₹5,000 crores by the end of this fiscal year.
Finance
Published Date : 08-May-2023
Why Managed Services for prominent Online Lender
With a fast-growing customer base, and as a financial services provider handling sensitive customer data, the client needed a universally available, scalable, and secure environment. Having migrated to AWS, they were looking to achieve the following goals:
support
Proactive, real-time actions & centralized monitoring
Cloud cost management & optimization
Continuous compliance with industry best practices
Secured Access Management Practices
Cloud infrastructure auditing and incident management
High Uptime, Cost Control & Improved Security
Client has been using AWS infrastructure for its lending and loan management processes for quite some time. However, they were aiming at managing operations round the clock and needed uninterrupted service. To maintain 99.99% uptime, very close & proactive monitoring is provided by UIPL that keeps the production environment healthy. Dedicated monitoring & extended support are aligned during critical month-end activities when the load is at its peak.
- 1. Efficient use of resources resulted in overall cost benefits through uCloud We implemented a strategy to optimize the utilization of resources, resulting in significant cost benefits for our client. To achieve this, we have leveraged our proprietary cloud management tool called uCloud. With the help of uCloud, we have set up schedulers that enable us to efficiently manage its cloud resources, ensuring that they are utilized to their fullest potential.
- 2. We optimize the monitoring solution utilizing Zoho Site 24×7 AWS monitoring tool, resulting in significant cost savings of approx. 90% savings in infra and app monitoring. Daily backup tracking, IAM (Identity and Access Management) user permissions review, and reports are automated by uCloud tool to ensure full compliance.
- 3. The process of managing the client’s security posture is improved, resulting in over 95% compliance with the CIS (Center for Internet Security) benchmark in the security hub. Additionally, access management is secured through CyberArk, which is integrated into the environment. QRadaris also integrated as a part of the same solution for the environment, further streamlining the client’s security posture management process.
Key AWS Services used
- AWS RDS
- AWS EC2
- AWS IAM
- AWS Network Firewall
- AWS Lambda
- AWS DMS
- AWS Directory Services
Benefits of Managed Services for our client:
- Uninterrupted services: One of India’s leading online lenders can receive uninterrupted services for its lending and loan lifecycle management processes.
- Cost savings: The client can save on costs by shutting down non-production infrastructure after business hours and reducing infrastructure monitoring costs significantly. Apart from this, we optimize AWS plans for maximum cost savings.
- Daily backup tracking and reports: The uCloud tool provided the client with daily backup tracking and reports, ensuring successful backups as a compliance parameter.
- Inventory and cost tracking: The uCloud tool provided inventory and cost tracking, reviewed old backups, performed manual backups, and identified optimal resources monthly. It also helps save on costs.
Security posture management: The client’s security posture management process is streamlined, achieving over 95% compliance in the security hub for the CIS benchmark.
Security system solution: The client received AWS Network firewall solution that provided protection from malicious IP addresses, threat protection, and traffic alerting and monitoring.
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