MatchMove is a Singapore-based platform-as-a-service (PaaS) startup in the rapidly growing financial technology (fintech) sector. Its signature product—MatchMove Wallet OS—provides enterprises with customizable “plug and play” payment solutions, including unique add-ons such as international remittances, QR code payments, and multi-currency. MatchMove is primarily a B2B company, with customers such as banks, ecommerce platforms, and other B2C wallets that use MatchMove as their back-end system. In its seven years of operations, the company has grown from having four clients to nearly 40. MatchMove now has a presence in several Asian countries and has also launched in Latin America and India.
In 2012, MatchMove established its infrastructure on AWS to quickly get its product to market and keep initial investment low. As with most fintech startups, speed to market is a major factor in the company’s success. By using AWS, the business has avoided heavy capital expenditures, instead pursuing an operational expenditure (OPEX) model. The global presence of AWS was a central factor in its choice of supplier, as many of the regions MatchMove now operates in, such as India or Latin America, require data centers to be physically close to customers, and the company must ensure compliance with various financial and regulatory authorities in each country. Data security is also top priority, given the volume of personal financial data moving through the MatchMove network.
MatchMove is always on the lookout for new services and software that will improve security and enable expansion with minimal overhead and human intervention. Identification of potential software partners, as well as procurement, testing, and deployment of new software, is managed by Cloud Solutions Architect Chandrasekaran Harikrishnan (Hari) and his development team of four, who are also responsible for managing about 150-200 servers. When looking for new technology or partner companies, Payment Card Industry Data Security Standard (PCI DSS)—which governs the way data from credit cards is used—compatibility is important. The flexibility to test and “try before you buy” new software, as well as ease of implementation and eventual termination of service, are vital for their busy operation.
In its search for third-party security software, MatchMove turned to AWS Marketplace. The online software store appealed to the team because products offered therein are from trusted, recognized vendors in their industry. MatchMove began using privacy software from Trend Micro, and has since developed a partnership with the company. In recent years, MatchMove has expanded its AWS Marketplace footprint in line with its own growth, and regularly uses six software offerings from the platform. Three of these go into every product: Sophos UTM 9 as a VPN gateway, NGINX Plus as an enhanced, high performance load balancer, and Trend Micro Deep Security for continuous threat monitoring on all instances.
Hari says, “AWS Marketplace vendors are very well integrated with AWS. All the logs from Sophos, for example, go into Amazon CloudWatch, so I don’t need to worry about losing any data.” Amazon CloudWatch (CloudWatch) enables MatchMove to collect and monitor log files, set alarms, and automatically react to changes in its AWS resources. “AWS is a shared responsibility model and the products which we subscribed from AWS Marketplace help us to meet compliance requirements, which falls under our responsibility,” Hari adds.
By using AWS Marketplace, MatchMove is able to procure and deploy new software in as little as 24 hours, ensuring client data across the globe is fully secure. Were it not for AWS Marketplace, Hari says, simply procuring and installing new software would take nearly two weeks, in addition to testing time. Before procuring any new software, the business looks to AWS Marketplace to avoid lengthy vendor negotiations and take advantage of subscription-based pricing. Once a need emerges for software, Hari’s team searches AWS Marketplace for appropriate software to deploy. The wide choice and range of software available simplifies the purchasing process and saves valuable development time.
“We had a request for OpenProject software one morning, and by afternoon we already had the user acceptance testing instance running for the client to test. If it had not been for AWS Marketplace, it would have taken a couple weeks before I even had the software installed on my side, because I would have to find a vendor, ensure their credibility, obtain quotations, and the proof of concept license.”
MatchMove also is able to avoid any upfront annual or prepaid payment for software licenses by taking advantage of flexible pay-as-you-go payment options on AWS Marketplace. The hourly fee allows the business to terminate usage anytime, which is a huge advantage. “AWS Marketplace is a very good fit for our OPEX model of running our business. Whenever I want new software, I don’t need to pay upfront costs for one year or prepay for any license. I can just pay by hour then stop using anytime, which is a big advantage,” Hari adds.
To learn more about how AWS can help you innovate software procurement and deployment visit AWS Marketplace.