Tessell's customer is a prominent financial services entity registered with the Reserve Bank of India (“RBI”) as a Systemically Important Non-Deposit, Core Investment Company ("CIC"). Operating across diverse business sectors such as Commercial Finance, Consumer Loans, Wealth Services, and credit card distribution, the corporation plays a pivotal role in the financial landscape. Its seamless operations are made possible through a central integration platform, acting as a vital link between multiple banks and Non-Banking Financial Companies (NBFCs), supported by Internal Loan Management Systems. The integration platform is core to the company's open finance strategy, acting as an innovation platform for competitive differentiation.
The integration platform efficiently manages various activities in the entire loan journey, including KYC validation, account verification, loan disbursement, EMI-based loan recovery, ENACH (Electronic National Automated Clearing House ) integration, collaboration with various banks, and partnerships with innovative Fintech companies.
The company’s substantial growth, characterized by a >25% CAGR, created a number of IT management challenges. The large dataset of the application posed difficulties in predicting and budgeting for the performance costs, due to the variable IOPS metering-based pricing. Long-running reporting times affected end-user queries, impacting operations and end-user satisfaction. Integration challenges with diverse FinTech entities required an agile infrastructure, frequent storage provisioning, and compliance management mandated by the RBI, which was constrained by the existing Amazon RDS setup. The customer’s cloud strategy would have to remain on hold until it could demonstrate to regulators that compliance was achievable in their future state architecture.
The Solution & Results
To address these challenges, the financial services firm opted to migrate from Amazon RDS to Tessell’s DBaaS, leveraging AWS high-performance compute (HPC) infrastructure with NVMe storage. The results were transformative, the customer:
- Achieved a 200% acceleration in month-end business reporting running on Tessell’s AWS HPC infrastructure.
- Experienced a 2X growth in transactions supported on the same platform, scaling from 5 Million to 10 Million.
- Successfully integrated with new-age Fintech partners, fostering accelerated growth in the new markets.
- Created a future-state architecture eliminating the need for frequent storage/performance evaluations ensuring application stability and removing the operational tax of ongoing manual storage provisioning.
- Achieved 99.99% application availability, by implementing multi-availability zone high availability with cross-region disaster recovery.
- Offloaded reporting to a secondary instance, leading to improved OLTP performance, batch job execution, and analytical reporting.
- Enhanced compliance by transitioning from proprietary backups to DB Native backups, with the ability to replicate cross-region.
- Moved from weekly manual to automated data masking and redaction in UAT environments, a key requirement for PCI and many other standards.
The financial services firm’s application and the resulting agility now serve as the bedrock of innovation, cross-departmental initiatives, and new product introductions leading to competitive advantage.