Spice Money Transforms Digital Payments for Millions of Users with NutanixMarch 20, 2018
Nutanix, a leader in enterprise cloud computing, today announced the deployment of the Nutanix Enterprise Cloud OS software at Spice Money, a digital wallet subsidiary of Spice Digital Limited. Spice Money chose Nutanix to help with scaling transactions, streamlining their data center management and reducing costs to deploy their services.
Spice Money is used mainly for money transfers within India, and processes over 4 million transactions for more than 2 million customers every month. To date, Spice Money has achieved a Gross Transaction Value (GTV) of $1 billion USD.
Keeping up with its exponential growth while retaining innovation, high performance and reliability of the service are critical objectives for Spice Money. Digitization and digital payments are key areas of growth across India and customers are increasingly demanding faster and more secure services. Data protection and compliance were also important considerations in their selection of the Nutanix Enterprise Cloud solution.
As a result of their Nutanix deployment, the company has been able to achieve higher productivity with significantly lower total cost of ownership (TCO). To date, Spice Money has experienced an almost 50% reduction in its overall infrastructure costs and an approximately 40% improvement in its transaction processing speed.
Nutanix has also helped streamline Spice Money’s performance monitoring process using Nutanix Prism, which allows one centralized control plane to manage Spice Money’s compute, storage, hypervisor, network visualization, backup and Disaster Recovery management resources.
Spice Money also selected the Nutanix integrated hypervisor, AHV, to further reduce the cost of virtualization licenses, maintenance and support. The ease of provisioning resources with Nutanix also allows Spice Money to prepare for disaster recovery scenarios. With their newly modernized IT infrastructure, Spice Money is expecting more efficient use of existing resources, benefiting both the company and its millions of customers.
"Legacy IT infrastructure is inflexible, vulnerable to outages and ill-suited to the heavy demands of digital and mobile banking. Three-tier infrastructure doesn’t scale and is expensive, making it impractical for a fintech conglomerate such as ourselves," said Mr. Saket Agarwal, Global CEO of Spice Money. "With our hyperconverged solution from Nutanix, we have dramatically reduced network latency and increased network capacity. Nutanix also allows us to easily perform infrastructure re-provisioning, ensuring quick recovery in the event of a disaster or server outage."
"Our software-centric approach enables companies like Spice Money to reduce the cost and time spent on building and running their infrastructure, so they can focus on delivering true business value to customers," said Sunil Mahale, Vice President of Nutanix India. "We are pleased that the Nutanix Enterprise Cloud OS software has helped ensure a delightful user experience for Spice Money customers. We are confident that by using Nutanix, Spice Money can continue to see the value-added benefits of the modernized data center."