Contact Us
Contact Us

IBILE MFB Case Study

Kobo360's Success Story: Enhancing Cloud Security and Cost Optimization with Wendu by CloudPlexoKobo360's Success Story: Enhancing Cloud Security and Cost Optimization with Wendu by CloudPlexo
Kobo360's Success Story: Enhancing Cloud Security and Cost Optimization with Wendu by CloudPlexo

In the financial sector, building secure, scalable, and resilient infrastructure is crucial. Financial institutions are tasked with the responsibilities of protecting sensitive data, ensuring regulatory compliance, and delivering a seamless experience to customers and as the industry increasingly adopts cloud-based solutions to meet these needs, selecting the right infrastructure becomes vital for optimising performance, controlling costs, and supporting long-term growth.

Overview

IBILE Microfinance Bank (MFB) is a financial institution that provides accessible financial solutions to individuals and businesses. With a mission to empower communities and boost economic development, IBILE MFB is dedicated to delivering efficient banking services tailored to the unique needs of its clients.

As the bank expanded, its operations and customer base grew, creating a demand for more robust, scalable, and secure IT infrastructure. IBILE MFB recognized the need to upgrade its cloud infrastructure. Partnering with CloudPlexo, a trusted AWS partner, they aimed to achieve better performance, enhanced scalability, and significant cost savings.

Quote from IBILE:

“Cloudplexo helps you with setting up your cloud infrastructure in the right way to minimise cost without reducing efficiency of your apps hosted on the cloud”
Name: Michael Onyike
Position: Head Information Technology

Challenges:

The co-location of their application and database on a single server led to resource competition, limited scalability, and a higher risk of downtime. Furthermore, underutilized instances contributed to unnecessary expenses, underscoring the need for closer monitoring and optimization to better support their growing operational needs.

  1. Outdated EC2 Instances: The Bank faced some limitations due to outdated instance types, which affected performance and cost-efficiency.
  2. Co-location of Application and Database: The co-location of their application and database on a single server led to resource competition, limited scalability, and a higher risk of downtime.
  3. Underutilization of Resources: Underutilised instances led to unnecessary expenses, bringing the need for more detailed monitoring.

Solutions:

CloudPlexo worked with IBILE MFB to:

  1. Upgrade Cloud Infrastructure for Better Performance and Cost Efficiency.
  2. Separate Application and Database for Scalability and Reliability: This is to improve performance, scalability, and reduce risks.
  3. Re-Architect Infrastructure for Scalability and High Availability: CloudPlexo re-architected IBILE MFB’s cloud environment to prioritize scalability and high availability. This includes implementing load balancers, autoscaling groups, and adopting managed database services like Amazon RDS for better fault tolerance and availability.
  4. Optimize Cloud Costs through Regular Reviews: Regular cloud resource utilization reviews are important to ensure resources are right-sized and only necessary resources are being used.
  5. Implement AWS Cost Optimization Tools: Activating AWS Cost Optimizer to receive recommendations on the most appropriate instance types based on actual workload requirements will optimise costs and resource allocation.

By implementing these solutions, IBILE MFB improved performance, scalability, and significant cost savings in their AWS environment.

Tools and strategies modern teams need to help their companies grow.

Cloud Billing Solutions: Case Studies in Cost Optimization and Savings
Re-Architecting MyBalance’s Infrastructure for Cost Efficiency and Downtime Mitigation

MyBalance offers digital tools to help individuals and businesses manage their finances. The platform enables users to track spending, set budgets, and make informed financial decisions. The company’s services cater to a wide range of users, from everyday consumers to small and medium-sized enterprises, enabling them to gain greater control over their financial health.

Cloud Billing Solutions: Case Studies in Cost Optimization and Savings
Case Study: Consode’s Strategic ERP Migration to AWS for Enhanced Scalability and Availability

Consode Digital, an IT solutions provider, specializes in delivering digital solutions by designing and configuring tailored models that help medium-sized enterprises streamline operations and achieve scalable growth.

Cloud Billing Solutions: Case Studies in Cost Optimization and Savings
Migration of On-Premise Workload for Financial Institution to AWS Lagos Local Zone for Data Residency Requirements : A Case Study of GT Pensions Managers

GT Pensions Managers migrated on-premise workload to Lagos Local Zone for compliance, scalability, security, and efficiency.

Cloud Billing Solutions: Case Studies in Cost Optimization and Savings
Mkobo uses CloudPlexo’s SaaS solution - to discover cost optimization opportunities and security posture.

Mkobo Microfinance Bank, based in Nigeria, offers microfinance services to individuals and small businesses, aiming to promote financial inclusion and empower underserved communities.