<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=986590804759414&amp;ev=PageView&amp;noscript=1">
G Suite Admin Blog -> Google Cloud

Fintech Company Cuts Costs by 25% with GCP

Fintech Company Cuts Costs with GCP

Migrating to Google Cloud isn't as complicated as it seems.

In fact, now that Google offers a truly multi-cloud and hybrid environment for all companies, every business of any size can find new opportunities and cost savings in the cloud. Whether you're starting your digital transformation journey or looking for a new way to upgrade your technology stack, the opportunities on the GCP are endless. 

That's something that one of the leading Fintech companies in the UK, GoCardless, recently discovered. The business has just completed its migration to the Google Cloud environment, achieving a cost reduction for infrastructure fees of 25%. 

By shifting towards a more cloud-friendly operating model, the company was able to reduce its daily operating costs significantly and start a new journey towards a life in the cloud. 

Overcoming Legacy Tech Problems

According to the senior manager for systems engineering and infrastructure at GoCardless, Norberto Lopes, the brand is currently responsible for handling thousands of transactions each day. The previous hosted data center that the company used meant that setting up servers was a tedious, inaccurate and often expensive process. 

To upgrade its functionality and performance, GoCardless decided that the only route forward was to move into the cloud. The business chose Google over competitors like Microsoft Azure and Amazon Web Services because they felt more comfortable with the Google team. The VP of engineering for GoCardless, Neil Turner said that the Google specialists they worked with understood the GoCardless company and their needs. 

Additionally, the brand was particularly impressed by the identity-aware proxy on the Google platform, combined with other capabilities like machine learning and BigQuery data warehousing options. 

Like many other businesses considering the path to Google Cloud today, GoCardless had a problem to overcome when it came to migrate from their previous IBM SoftLayer infrastructure into the cloud environment. In fact, they were so concerned about the migration that the business took a year to make the right decision about where to move to. 

Migrating to Google Cloud

For companies of any size, from any background, migrating to Google Cloud has never been easier. Tools like Google Migrate, and the fact that Google offers plenty of opportunities to build an environment that suits you means that there's no limit on what you can do with the right migration path. According to GoCardless, while the team allowed for an hour of downtime during their final traffic switchover, they only had to shut operations down for a total of eight minutes. 

Specifically, GoCardless chose to migrate their applications into the Google Kubernetes Engine, which provides all of the functionality that businesses need to run containerized applications. The Container Registry on GKE removes much of the operational burden typically associated with the development lifecycle through from idea to deployment. 

GoCardless also built a new data processing pipeline using the Cloud Storage tools from Google, including BigQuery, Cloud Dataflow, and Cloud Pub/Sub. They didn't need to waste endless time on building a new strategy to move with Google, the process was quick and seamless. 

Better Results with Google

After the successful migration to the Google Cloud Platform, GoCardless has already begun to see fantastic results. The team plans to go serverless wherever possible to keep things as simple and flexible as possible in the months ahead. 

For now, GoCardless has achieved an infrastructure cost saving of 25% with lower operational overheads and flexible infrastructure scaling with the Google Cloud. Additionally, the GoCardless team also noted that they're able to explore new things with the Google Cloud that they wouldn't have been able to do on premise. 

The GoCardless brand is experimenting with things like machine learning workloads that would have been too complicated for them to manage on their own. Additionally, the business can now take new steps to improve its chances of tracking and reducing fraud within core payment systems with those machine learning opportunities. Through AI, it will be easier for GoCardless to detect potentially suspicious interactions and transactions. 

The team have also spoken about using machine learning to improve their ability to eliminate the number of chargebacks in an operating system. To do this, the business will be optimizing its current algorithms to find the perfect time to access a second payment attempt. 

What could you accomplish with access to the Google cloud platform? 

0 Comments