How Jumbo Finvest increased process efficiency, minimized security risks and achieved greater savings with ZNetLive managed AWS Cloud

“After using AWS from ZNetLive, we don’t have to think any more about building and operating the infrastructure. The most important benefit is we can now focus on our time, money, and energy to create great experiences for our customers.”
– Siddharth Ajay Singh, Managing Director and CEO Jumbo Finvest India Ltd.

About Jumbo Finvest (India) Limited

Jumbo Finvest (India) Limited (JFIL) was founded by Ajay Kumar Singh and his family members in 1998 for carrying on a tractor dealership in the name of Ajay Tractors Private Limited.

In 2003, its tractor dealership business was discontinued, and the company was registered as a non-deposit taking NBFC with Reserve Bank of India. JFIL is engaged in secured lending (commercial vehicle, two-wheeler loans, loans against property, home loan and security, etc.). The tenure of which ranges from one to three years.

At present, the company operates through its 195 branches in 59 districts in five states-Rajasthan, Madhya Pradesh, Uttar Pradesh, Delhi and Maharashtra and had a portfolio of Rs. 767.93 Crores as on March 2019.

JFIL enjoys investment grade “BBB+” rating for its credit facilities from CARE rating agencies and “A-” rating for its credit facilities from Acuite Ratings.

They are the second-largest Non-Deposit Taking Non-Banking Finance Company
(NBFC) in Rajasthan. They have been providing financial services to the customers with diversified products. They are continuously working to enhance the experience of their customers with simple operations, minimal documentation, and flexible repayment options.

The Challenges

Previously, Jumbo Finvest didn’t have much understanding of their business’ possibilities by going digital. They also had security concerns when they thought about embracing a cloud-based technology for their business.

Overall, they needed some scalable solution that could help them react faster to unplanned events and provide them a sense of mental peace in knowing that whatever events happen in their organization, they should have a pool of resources available to deal with them.

As a financial services provider, we generate a massive amount of data every day due to multiple transactions, loans, insurance documents, and payments. It is crucial for us to provide effective and quick solutions to our clients.
And, the problems that essentially arose were out of the slow processes we had in place – due to lack of resources, operating procedure, and infrastructure, Siddharth Ajay Singh

Why AWS from ZNetLive?

After thorough analysis of the existing infrastructure and requirements of Jumbo Finvest, ZNetLive team suggested that they should move to the cloud to address all their concerns. Before signing up with AWS from ZNetLive, they were using in-house servers and locally installed systems. …They were using services from multiple providers to fulfil their needs, which resulted in management hassles.

AWS from ZNetLive was one solution that reduced the extra cost they had to pay for their internal infrastructure. “And as our business grows, we process a large amount of data every day, including sensitive ones like KYC documents due to which we have had a high requirement for a secure data storage system. …Choosing ZNetLive has been a great experience so far…. I would say, it has been the most mature service which is also fairly priced, has 99.99% uptime, and no latency in the application. Not just that, the service was easy to use and implement – the support team at ZNet really helped us,” said Siddharth Ajay Singh.

“Our data storage was not aligned with the modern skillset. We were all new to the cloud and didn’t know how the migration will take place. ZNetLive technical team solved these issues by assisting throughout the migration process to enable our business to be digital-ready.…They ensured that the new AWS by ZNETLIVE is well integrated with our existing legacy systems,” said Siddharth Ajay Singh.

The Benefits

“The association with ZNetLive has been very helpful for our IT Team. For example, increased efficiency in the overall process, minimal data security risk, and great savings on investment in infrastructure and technology.” said Siddharth Ajay Singh

Using AWS from ZNetLive has enabled Jumbo Finvest to:

Manage and change server configuration easily as per application or user requirements.

Reduce the IT infrastructure cost against physical server and internet bandwidth consumption like lease line or broadband.

Improve the entire management process – which was manual before.

“It has helped us to manage a large number of data sets without costing much money – therefore, better management of the lending process and less paperwork. Our documents are now stored in a secured centralized system. That’s transformative!” said Siddharth Ajay Singh.