Rapyder Managed Services Enabled NeoGrowth to Achieve a Significant Cost Savings Upto $4000

15 February 2022

Introduction

NeoGrowth is a leading NBFC company that provides easy & quick business loans in India.

NeoGrowth is a technology-enabled lending business that provides unsecured loans to small retailers in all major Indian Cities (Mumbai, Delhi, Chennai, Bangalore, Hyderabad, Chandigarh, Jaipur, Kolkata, Pune, and Ahmedabad) repaid by future card receivables, e-commerce sales and other non-cash payments.

More than half of the loans made by NeoGrowth are less than INR 1 Mn each and greater than 80% of loans have been given to Proprietorship and Partnership firms. NeoGrowth combines new payment datasets, traditional scoring, dynamic repayment & automated collections to identify and serve these credit-worthy merchants.

Industry:

Non-Banking Financial

Offering:

Managed Services

Solution Approach:

Rapyder is working with NeoGrowth to assess their current application and infrastructure landscape and providing managed services 24×7 support with respect to security, cost optimization, patch management, scalability, infrastructure maintenance.

Business Need:

NeoGrowth is running their TPA production workloads on on-premises consisting of a combination of Linux and Windows-based environments.

NeoGrowth has been consistently running their infrastructure on cloud via Amazon Web Services that could scale according to the user traffic without any manual intervention.

Implementation:

  • Implemented a robust approach for deployments, roll backs and database replication for all the applications.
  • Connectivity from AWS to on premise was established using a site-to-site VPN.
  • Route53 is used for hosting various Domains & Co-Domains handled by NeoGrowth and maintaining DNS configuration.
  • Rapyder is maintaining regular backups using AWS Lifecycle Manager and AWS Backup Service to take AMIs’ & Snapshots. Rapyder policy for backup is daily snapshots with 7 days retention and weekly AMIs’ with 15 days retention.
  • Certificates are purchased from ACM and Go Daddy to keep their websites secure and these certificates are renewed in a timely manner.
  • Cloud Endure account is used for continuous data replication and disaster recovery to avoid data loss.
  • Patch Management is completed for all the DB instances.
  • Based on the cost optimization report, helped NeoGrowth team to change the plan for cost savings.
  • All the URLs are consistently monitored by Rapyder monitoring team. The URLs are monitored using Status Cake tool which provides uptime and downtime periodically.
  • Monthly Infrastructure reports are prepared and addressed with improvements and solutions to maintain the overall health of the AWS accounts.
  • Rapyder follows AWS best practices to maintain Identity and Access Management (IAM) users & roles.
  • Multiple RDS instances are managed by providing Multi AZ options and database dumps to avoid data loss.
  • Rapyder is helping NeoGrowth to use Classic Load Balancer & Application Load Balancer depending upon the type of requirement.

Reaping Rewards:

  • Patch Management helped NeoGrowth to have significant improvement in the performance of the applications.
  • Cost Optimization helped NeoGrowth in cost savings upto $4000.
  • Disaster Recovery will be performed every year which helped NeoGrowth to maintain backups for any future data loss.
  • Operating model of AWS helped to manage the infrastructure better.

AWS Services:

EC2, EBS, ALB, VPC, RDS, S3, NAT Gateway, Site-to-Site VPN, Route53, Lambda, CloudTrail, Guard Duty, CloudWatch, ECS Clusters, IAM, Security Groups, WAF, Redshift, Key Management Service, FSx, ElastiCache, Secret Manager, SNS, Kinesis Fire Hose, Code Pipeline, CloudWatch Events, CloudFront, Cloud Map, AWS Backup, API Gateway, Amplify.

Next logical move:

Rapyder team will be performing a Well Architecture Review to re-structure and maintain overall health of the account.