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We enabled CostsFirst to store their customers' critical financial data on cloud & ensure 100% uptime.
The finance industry is undergoing a digital transformation, with the majority of manual calculations being replaced by digital calculators. However, considering the critical nature of data being stored in these calculators, FinTech industries felt the need to leverage technology to manage risks efficiently and ensure that their data remains secure.
CostsFirst, an initiative of First American Title, also sought to change the FinTech industry by simplifying and speeding up several financial calculations. It is a fast and interactive application that calculates multiple loan types, including closing costs for FHA, VA, conventional loans, and cash transactions.
The mobile-enabled website or application enables anyone planning to buy, sell, or refinance a home in the states to get the closing costs accurately and quickly.
To constantly improve their performance while making real-time calculations. They wanted to ensure their website and app were in a compliant environment to eliminate any risks of server data corruption, data center failure, etc., and ensure business continuity.
We chose AWS as the cloud solution to host their servers to help them achieve peak performance of their website and app. For their disaster recovery management, we set up multiple ec2 instances in other regions for backups. We are also maintaining their servers so that they can scale without hesitation and switch preferences to instances.
The FinTech industry is shifting towards digitalization. With most of the transactions, calculations, claim settlements, loan approvals, and more being performed online, the amount of critical financial data stored online is unfathomable. And this needs to be secured and well-protected from any type of unexpected downtime or data breach.
We understood that CostsFirst was also in a similar dilemma when they approached us with their focus on disaster recovery management. They dealt with critical finance data related to FHA, VA, conventional loans, and cash transactions. We brought together our AWS engineers to set up multiple EC2 instances. This helped them achieve resizable compute capacity.
Through this, we ensured they were isolated from any failure scenarios and had a more resilient calculation app. Through setting up of EC2 instances on AWS, we also helped them achieve greater reliability, security, flexibility, greater control, and cost savings.
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