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Microfinance Leader Accelerates Decision-making, Revenue Growth with Cisco HyperFlex

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Updated:February 3, 2021

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    (86.7 KB)
    View with Adobe Reader on a variety of devices
Updated:February 3, 2021

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MigCredit is the leading microfinance lender in Russia, specializing in small loans for individuals. The company issued consumer microloans totaling 4.38 billion rubles in the first half of 2019, representing a 19 percent year-over-year increase. For more information, visit migcredit.ru.

Executive Summary

Customer Name: MigCredit

Industry: Financial services

Location: Moscow, Russia

Number of Employees: ~900 employees

Challenges

  Accelerate loan approvals
  Improve risk analysis
  Increase IT resiliency and flexibility

Solutions

  Cisco HyperFlex™ system
  Cisco Intersight™ Infrastructure Service
  Cisco UCS® Manager
  Cisco AppDynamics®

Results

  Sped up business decision-making by 40 percent                                                                                                          
  Increased business revenue
  Streamlined IT operations

 

 

Challenge: Speed up loan approvals

Consumer lending requires a delicate balance of speed and diligence. A slow or inefficient approval process can turn viable customers away. A hasty or superficial approval process can bring risky customers in the door. And both can have a negative impact on the bottom line.

Already Russia’s leading microfinance institution, MigCredit is raising the stakes on both sides of the balance, taking bold steps to simultaneously improve its risk analysis and accelerate its loan decisions.

“Our customers request loans online or through our mobile app,” says Roman Mozhaev, CIO of MigCredit. “If we take too long to give them an answer, they will go elsewhere and we lose the business. We must be very fast.”

Until recently, consumers had to wait three to four minutes to get lending decisions from MigCredit. Today, with the company’s front-end and back-end applications running on Cisco HyperFlex, a decision is delivered 40 percent faster. 

A stronger foundation

MigCredit’s preexisting IT infrastructure—a traditional three-tier architecture with disparate components from different vendors—had become more of a hindrance than enabler. Updating, monitoring, and troubleshooting the environment were tedious, manual efforts that required multiple management tools. A lack of fault tolerance in the hardware layer created a domino effect whenever a node failed. And storage bottlenecks frequently slowed applications to a crawl.

“We have big swings in demand,” Mozhaev explains. “Some days we have a relatively low amount of activity, other days we will purchase a large number of loans and have to run a batch job with one and a half terabytes of data.”

Wanting to improve the performance, stability, and manageability of its data center, MigCredit deployed a five-node Cisco HyperFlex cluster to run all of its applications.

“Cisco HyperFlex is the future of IT,” Mozhaev claims. “It’s a good investment for us.”

Faster IT operations

The software-defined, hyperconverged infrastructure has simplified and greatly accelerated MigCredit’s data center operations.
The company’s IT staff no longer has to worry about hardware instability or software latency. And activities that used to take hours or
even days now take minutes.

“We have to clone our VMs whenever we update an application, and it used to take four to five hours to create each clone,” says Dmitriy Maksimov, head of technical support at MigCredit. “With Cisco HyperFlex, it only takes a minute or two to make a clone or take a snapshot.”

The entire environment is managed through a single pane of glass, he adds. MigCredit’s IT staff is using Cisco UCS Manager and plans to leverage Cisco Intersight in the future for additional automation, intelligence, and flexibility. 

Faster business decisions

With its data center infrastructure, business applications, and IT processes now humming, MigCredit is focused on business acceleration. The company is testing Cisco AppDynamics for real-time performance monitoring and application fine-tuning.

“Cisco AppDynamics gives us visibility from the back end to the front end and a wealth of analytics,” says Maksimov. “It will help us monitor the health of our applications, identify bottlenecks, and improve our risk analyses.”

“With Cisco technologies at the heart of our data center, our applications, insights, and decisions are 40 percent faster,” says Mozhaev. “That has a significant impact on our business revenue.”

 

“With Cisco technologies at the heart of our data center, our applications, insights, and decisions are 40 percent faster. That has a significant impact on our business revenue.”

Dmitriy Maksimov, Head of Technical Support, MigCredit

 

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