Hero FinCorp an Indian Non-Banking Financial Company (NBFC) is a subsidiary of Hero MotoCorp, a leading automobile company based in India. Hero FinCorp has over 2000 retail financing touch points across the country and more than 2000 corporate clients. The NBFC offers financing for Hero MotoCorp two-wheeler consumers, loyalty customer loans, and loans against property.
Hero FinCorp
www.herofincorp.com
Application Development for Efficient Document Management
The Financial Services company collects a vast number of documents for loan and finance processing relating to loan applications, collections, and validation, including Aadhar card, PAN, bank account details and so on. These documents are stored electronically using applications in their database in PDF, xlsx, xls, docx and doc formats.
They had a process in place for integrating documents from various sources, filtering, modifying, and deleting data, but lacked a centralized document system for easy handling of data.
To help Hero FinCorp integrate and manage their documents more efficiently, Umbrella Infocare developed a new application or Document Management System (DMS). The DMS is integrated smoothly with third party applications that collect the documents; and enables efficient document management. The DMS application plays the role of the central document repository and other LOB applications can store, retrieve and update the relevant documents with seamless DMS integration.
UIPL developed the DMS application by following the serverless architecture. Python has been leveraged for the development of the backend RESTful APIs and Angular has been used for the frontend web application. DMS leverages AWS Lambda and Amazon API Gateway as the core AWS services for the deployment of application components. RESTful APIs are hosted on AWS Lambda and published via Amazon API Gateway. Frontend app is deployed on S3 and published via CloudFront.
HeroFin Corp Document Management System Application Architecture
Faster Data Processing with AWS Lambda
For the documents to be processed effectively, AWS Lambda picks up, processes, and stores the data and also helps run various other processes in the background.
How AWS Lambda Helps Hero FinCorp
- Processes huge loads of records within a couple of minutes
- Continuous scaling of applications as event triggered code runs in parallel
- No management or infrastructure provisioning is needed
- Integrates smoothly with Amazon API Gateway and other connection points
- Millisecond metering brings down costs drastically
- Built in fault tolerance and integration with AWS IAM enhances security
“Thanks to a highly sophisticated monitoring environment which maps adherence with AWS best practices and CIS benchmarks and takes remedial measures, HeroFin operations are always compliant and technology has enabled to meet a critical business objectives,” says Shiv Ram Head – IT Infrastructure of Hero FinCorp.
Amazon API Gateway for Efficiency, Performance and Low Costs
For ensuring smooth integration of applications, Hero FinCorp uses RESTful APIs to connect several frontend applications, and backend components. HTTP APIs create RESTful APIs that enable lower costs and latency. The RESTful APIs are published via Amazon API Gateway which in turn accesses by frontend app as well as third party LOB applications for interaction purpose.
The API Gateway is a Managed Service that creates, implements, and manages APIs for Hero FinCorp. It also helps with the following:
- Access control for APIs using Identity and Access Management (IAM)
- Monitoring of APIs with CloudWatch
- Faster response times by caching APIs using CloudFront
- Costs reduce as API usage scales up with the Amazon API Gateway
Apart from these benefits, Amazon API Gateway also comes with a number of security features, helps monitor performance and can scale up exponentially when coupled with CloudFront. API development is also made easier and cost friendly.
Benefits of AWS Lambda & Amazon API Gateway
While AWS Lambda and Amazon API Gateway help Hero FinCorp’s DMS with speed, scale, agility, performance, easy management and cost reduction, the two AWS services bring additional benefits like innovation, modernization of applications, helping to build serverless applications, easy monitoring, robust and flexible security and efficient API development. The two services integrate very well with other AWS services and are deployed across multiple use cases.
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