How a fintech company reduced cloud spending by 40% with the right support - Innovation Partner - IoT, FinTech, Mobile Apps & Software Development, Cloud Engineering

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How a fintech company reduced

cloud spending by 40%

with the right support

Introduction

This Australian fintech company hosts a digital platform that provides exclusive discounts and rewards to users. When the business encountered scalability and cloud cost challenges, it turned to iTelaSoft for support.

Infrastructure and high costs were hampering growth

The company was rapidly growing but faced challenges in scaling out its infrastructure, combating the high cost of cloud, and finding a robust monitoring solution.

These challenges significantly impacted the business by:

Making it difficult to handle large or unexpected traffic spikes, as well as make its application available during peak periods

Preventing resources and costs from being utilised well, thus affecting the business’s bottom line and growth prospects

Creating a lack of visibility into its systems, which prevented the company from identifying and resolving bugs before they became a problem, negatively affecting the business’s user experience and brand reputation

It was clear that the client needed an expert hand in optimising its systems.

AWS expertise makes it easy to tackle scalability & cost challenges

iTelaSoft's team collaborated with the client to first identify the key issues that were creating these challenges and then implement multiple solutions using the AWS platform, which the business was already using.

For scalability & traffic challenges, iTelaSoft evaluated the effectiveness of the current infrastructure setup and identified areas for improvement, as well as analysed resource usage patterns and right-size instances to match workload requirements.

This helped distribute incoming application traffic across multiple targets to ensure efficient use of resources. iTelaSoft also configured the system so that the business can continuously monitor and optimise resource usage, considering reserved instances, spot instances, or savings plans.

To improve system monitoring, AWS CloudWatch, AWS CloudTrail, and third-party monitoring solutions were implemented. These solutions allow the client to monitor API activity and AWS resources, collect & track metrics, set alarms, and have visibility into user actions and resource changes.

To help optimise costs, iTelaSoft conducted architecture reviews and implemented cost-saving measures that were identified in those reviews. These measures included utilising AWS Budgets and AWS Cost Explorer, which allow the fintech company to optimise resource utilisation, identify cost drivers, analyse usage trends, and forecast future spending.

iTelaSoft's team also created a framework of best practices that include frequent review and continuous improvement to ensure that the business continued to get the most out of the platform.

A cost reduction of 40% thanks to skilled support

Having an expert AWS partner has helped this client tackle major challenges that were preventing further growth. iTelaSoft's team came armed with knowledge and years of experience, making the collaboration easy and smooth.

By working together with iTelaSoft and implementing AWS solutions, the fintech business is now able to:

Reduce cloud spending by 40% and have a clear understanding of cost drivers and proactive, and put proactive measures in place to control expenses

Seamlessly handle traffic spikes and increased application availability during peak usage periods thanks to auto-scaling implementation

Have full visibility into system performance, resource utilisation, and user activity through deploying robust monitoring solutions such as AWS CloudWatch & CloudTrail

Utilise resources more efficiently and scale without the need for manual intervention after implementing cost-saving measures (like right-sizing instances & leveraging reserved instance) and adopting serverless architecture on iTelaSoft’s suggestion

Improve detection and resolution of bugs & issues by 20%, enhance uptime, and improve overall system reliability through proactive monitoring and alert mechanisms

iTelaSoft's efforts to optimise the AWS deployment have yielded tangible results, including enhanced scalability, greater cost savings, and improved monitoring. By implementing scalable solutions & controlling costs, this company is now positioned for continued growth and success in the cloud.

get the most out of
your cloud investment

iTelaSoft's skilled support team will prevent downtime, reduce costs, and maintain security for you so that you’re getting the optimum performance and value out of your systems.

If you want to know what’s possible for your business,

Please contact our team