Overview

Strategists promote the simplification of IT infrastructures as a path to better business outcomes. Siegel+Gale’s Global Simplicity Index for 2017 is a research project that points to this. It says that brands lose $86 billion every year due to excess complexity.
One way to reduce this complexity in your IT infrastructure is to adopt cloud frameworks. However, you may be wondering how effective this move is.
We present a case study of a world-leading mobile Fintech solutions developer. Here, we show you how it solved its complex IT issues and reduced operating costs simply by migrating to the cloud.

Problem

This company is a global mobile Fintech solutions developer with offices in 9 countries spread over three continents. From 2005, when it was founded, the company grew to serve over 340 million customers worldwide by 2016, additionally boasting of 18 million monthly active users.
To support this large user base, it deployed servers at multiple regions. These servers were also deployed at data centers leased from multiple companies.
As a business still experiencing rapid growth, the mobile Fintech solutions developer was then faced with several challenges. The most apparent were its ease of scalability when server traffic spiked or reduced, and the absence of resources to manage an effective data recovery plan.
All these either meant incompetence of the business to maintain its growth or total loss of core business data when disaster struck.
The company’s plan to launch a new Fintech project made a solution to its current situation a more pressing need. The failure of the new Fintech project meant newly purchased servers would be utterly wasted. How was all this solved?

Solution

Amazon Web Services was the go-to solution, as the cloud infrastructure offered exactly what the mobile Fintech solutions developer needed.
The scalability of cloud frameworks meant that the failure of the new project simply warranted a reduction of deployed AWS virtual servers, helping to reduce costs. Additionally, the global coverage, multifunctionality, and professional-grade services of AWS meant the company could shift its whole infrastructure to the cloud.
The results? The mobile Fintech solutions developer successfully created an active disaster recovery framework that covered all its core business operations around the world. It also did all these while expanding further into Europe and Asia, and keeping mobile Fintech solutions at the usual top-notch levels.

Results

The result from this case study only proves that switching to cloud-based infrastructures is one way of reducing complexity in your business. This is especially so for fast-growing enterprises that urgently need to scale operations up.
Do you see a similarity with Fintech companies? They exist in an industry that is fast growing and expected to double in participation over the next 5 years. This means more users, increased traffic on existing infrastructure, and a definite need to scale up in the future.
Looking at this, we can say building the foundations of your Fintech company on cloud infrastructures allows you to stay ahead of your competitors when the market is ripe for harvest.