Customer Stories / Financial Services
Biz2Credit Onboards New Customers 16x Faster with Amazon EKS
Biz2Credit helps small companies secure loans fast through solutions such as its Biz2Credit online marketplace and Biz2X, a platform that banks can use to offer their own lending services. To increase efficiency through automatic scaling of its Kubernetes clusters, Biz2Credit adopted Amazon Elastic Kubernetes Service (Amazon EKS).
With Amazon EKS, Biz2Credit reduced IT costs and accelerated the time to onboard new customers, while increasing uptime and its ability to innovate quickly.
Opportunity | Automating Kubernetes Scaling to Boost Operational Efficiency
Fintech company Biz2Credit ranks among the top 100 fastest growing companies in the US, with a growth rate of 1,022 percent. With headquarters in New York and IT operations in India, Biz2Credit specializes in providing funding solutions that help small businesses expand. The company’s three key products are Biz2Credit, an online marketplace that connects businesses with lenders; Biz2X, a platform that empowers banks to develop small-business lending services; and Maadhyam, a middleware solution that brings together lenders, subject matter experts (SMEs), and aggregators on a single platform, enhancing the lending experience for small and medium businesses (SMBs) in India.
To accommodate its rapid growth, Biz2Credit adopted a cloud-native approach, using Amazon Web Services (AWS) as the underlying infrastructure for Biz2Credit, Biz2X, and Maadhyam. Each product comprises 30−40 microservices, which are grouped into containers. Initially, the company’s IT team manually scaled the Kubernetes control plane. However, to enhance efficiency, the team sought to automate the scaling process. Yuvraj Mittal, head of DevOps at Biz2Credit, explains, “Our goal was to optimize operations, reduce costs, expedite infrastructure set ups for our customers, and enhance our Biz2x platform’s reliability.”
Setting up infrastructure for a new bank used to take us 3−4 days, but with Amazon EKS, our delivery time is reduced to 5−6 hours.”
Head of DevOps at Biz2Credit
Solution | Scaling with Amazon EKS Lowers Costs by 25−30%
To automate scaling, Biz2Credit adopted Amazon Elastic Kubernetes Service (Amazon EKS), a managed service for running Kubernetes on AWS. Now, the company no longer needs to manually adjust master nodes behind Kubernetes clusters—a task that previously had to be performed during off-peak hours to minimize application downtime. “Amazon EKS automatically scales our control plane, helping us increase uptime from 99.9 to 99.999 percent,” says Mittal.
Furthermore, Biz2Credit has reduced IT costs through management savings and the integration of Karpenter, a high-performance third-party application cluster autoscaler developed with AWS. Karpenter selects the optimal Amazon Elastic Compute Cloud (Amazon EC2) instance for each Kubernetes node. Mittal shares, "With Amazon EKS and Karpenter, we’ve lowered our Kubernetes costs by 25−30 percent."
Today, Amazon EKS serves as Biz2Credit's container orchestration solution, supporting all microservices, including workloads running on Amazon DocumentDB (with MongoDB compatibility) and Amazon Relational Database Service (Amazon RDS). Within this architecture, Application Load Balancer (ALB) distributes traffic among different containers, while Amazon ElastiCache caches frequently accessed data, offloading read operations from Amazon DocumentDB and Amazon RDS clusters.
With the cost savings achieved through migrating to Amazon EKS, Biz2Credit has been able to invest in improving its security posture. The company now utilizes various AWS security services, such as AWS Config, Amazon GuardDuty, Container Insights, CloudWatch Logs Insights, Amazon Inspector, Amazon Detective, and Amazon Macie to ensure the security of applications and workloads.
Outcome | Onboarding New Customers 16x Faster with Automation
By automating Kubernetes management, Biz2Credit can offer a better customer experience, lowering the time it takes to onboard companies to its online marketplace or Biz2X. “Setting up infrastructure for a new bank used to take us 3−4 days, but with Amazon EKS, our delivery time is reduced to 5−6 hours,” states Mittal.
Furthermore, the elimination of downtime during master node scaling ensures uninterrupted platform performance for customers around the clock. Ratiesh Sharma, vice president and head of marketing at Biz2X, comments, “Our clients are pleased because they can input their data into our systems over the weekends and experience the same high performance as any other day.”
Mittal concludes, “With Amazon EKS, we achieve cost savings, accelerate the delivery of new services, and maintain agility to seize new opportunities, ultimately providing added value to our customers.”
Biz2Credit facilitates small business lending services through its platforms and middleware, offering a range of financial options including working capital loans, term loans, and commercial real estate loans. To date, the company has facilitated over $12 billion in small business financing.
AWS Services Used
Amazon Elastic Kubernetes Service (Amazon EKS) is a managed Kubernetes service to run Kubernetes in the AWS cloud and on-premises data centers.
Amazon Elastic Compute Cloud (Amazon EC2) offers the broadest and deepest compute platform, with over 700 instances and choice of the latest processor, storage, networking, operating system, and purchase model to help you best match the needs of your workload.
AWS Config continually assesses, audits, and evaluates the configurations and relationships of your resources on AWS, on premises, and on other clouds.
Amazon Relational Database Service (Amazon RDS) is a collection of managed services that makes it simple to set up, operate, and scale databases in the cloud
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