20 | 08 | 2020

Banking on Innovation: Financial Services Soar with AWS Cloud

Money in the Cloud: Financial Services’ Digital Evolution with AWS | Case Study

A Financial Technology startup committed to providing instant services to clients via a mobile loan application system. As it wanted to innovate and grow faster, the company was limited by its existing technology environment.

The company wanted a tailor-made way to validate clients’ IDs in real-time without human intervention. Engaging API systems wasn’t an option due to some old technology on the government side.

To address the problem, the startup decided to search for a new Cloud Solution that was more consistent and could support the organization’s web-based loan-processing software. As it embarked on the search, the company needed to ensure it found a more reliable technology and support the organization’s web-based loan-processing software.

With this in mind as the foundation, they wanted to have a reliable and scalable network infrastructure that would serve them for years to come.

Client

Financial Services Technology Startup - Small/Medium Business

Environment

AWS Cloud; VPN, Multiple Availability Zones, Firewall Segregation, Amazon S3, ECT RDS for MySQL, Rekognition

Objective

Ensuring continuous operation was paramount for the business, operating within the Financial Services Sector, where even minor disruptions could incur substantial costs and damage the company’s reputation. The fundamental requirements were to establish an agile, secure, scalable, and resilient network infrastructure, with strict segregation between various services, guaranteeing uninterrupted services and safeguarding the company’s standing in the industry.

What was done

We have looked into several Cloud Technology providers, and after some discussion, we came to the conclusion we chose Amazon Web Services (AWS) as the provider for the platform. AWS offered all the advantages to support the scope of the requirements. We have designed, configured and deployed the following;

  1. A comprehensive, detail designed ensured that the environment is scalable without any conflicts
  2. The next-generation firewall was deployed to provide in-depth packet inspection
  3. F5 Load-balancers gave the advantage of the scalability and provided additional enhanced security and offloading traffic encryption
  4. The whole platform  -> network was designed with resiliency in mind and tested extensively
  5. From the start infrastructure was incredibly reliable, so the client has more time to focus on innovation rather than managing infrastructure
  6. We could swiftly handover to an in-house IT team, without any worry about managing the infrastructure by themselves

Achievement

The company has flourished since being on AWS, expanding to other emerging markets and increasing its customer base by hundreds of thousands of customers in the space of a few months.

High-availability ensures zero-downtime from applications, services and databases since moving to AWS and considerably increased and optimised the performance of the front-end applications that the customers noticed.

 

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