Lendscape provides a versatile platform supporting various financial products in the asset-based lending industry. Their offerings include automation, risk management tools, real-time data insights, and robust reporting to streamline operations and enhance efficiency. Lendscape caters to banks, financial institutions, and independent lenders worldwide. They have a global footprint, serving a diverse client base across multiple regions.
Lendscape faced significant challenges with their initial cloud adoption phase, executed by another global integrator, which was unsuccessful. They lacked a clear Total Cost of Ownership (TCO) and a technical vision or roadmap. Despite having a general idea of their goals, they were unsure how to achieve them. This uncertainty risked Lendscape abandoning their cloud project in favour of remaining on-premises or exploring other public clouds besides AWS.
To address these challenges, Cloud Bridge executed a comprehensive strategy to restore Lendscape's confidence in AWS. Key actions included:
- Initial Assessment and Planning: Conducted a rapid deep-dive discovery funded by Cloud Bridge to refresh the project plan.
- Swift MAP Mobilisation: Quickly deployed the initial landing zone and integrated it with Lendscape's existing AWS organisation.
- Meticulous Migration Planning: Organised a detailed migration wave plan to ensure seamless transitions, minimise disruptions, and achieve timely results.
- Agile Project Team: Utilised a highly integrated and agile project team for efficient execution.
- Security and Compliance: Implemented a robust cloud governance strategy and posture management using Fortigate NGFW in both active-passive and Gateway Load Balancer architectures.
- Cost Management: Provided FinOps and Cloud Governance services to keep Lendscape in control of their cloud costs.
- Training and Support: Conducted continuous up-skilling through training, runbooks, knowledge sessions, and recruitment using Cloud Bridge's industry expertise.
- Managed Services: Delivered 24x7 AWS MSP accredited managed services for ongoing support.
- On-Premises Retention and Upgrades: Retained on-premises infrastructure for specific needs and upgraded MS SQL from 2016 to 2022, replacing Enterprise with Standard edition for cost optimisation and performance improvement.
A significant part of the solution was migrating from MS SQL Enterprise to MS SQL Standard, which was facilitated by AWS architecture. This migration resulted in over $100,000 in licensing cost savings. The implementation leveraged AWS services like Amazon RDS with Multi-AZ deployment for high availability and failover support, ensuring seamless and automatic recovery in case of failures. This architecture provided the reliability of Enterprise SQL features while significantly reducing costs.
The Results:
Working with Cloud Bridge has delivered significant results including a 20% cost reduction.
- Customer Satisfaction: Achieved high levels of customer satisfaction and loyalty to Cloud Bridge and AWS.
- New Client Acquisition: Lendscape Successfully migrated initial pilot clients and planned migrations for 18 new clients in 2024.
- Market Expansion: Enabled Lendscape to create new markets and win new institutional banking clients.
- Improved Customer Experience: Enhanced customer experience, evidenced by a 20-point increase in Net Promoter Score (NPS).
- Revenue Growth: Projected $1 million annual recurring revenue (ARR) in the London region alone.
- Cost Reduction: Lowered costs by 20% compared to previous processes due to improved time to market.
- Revenue Opportunity: Enabled Lendscape to forecast a significant revenue opportunity of over $100 million.
- AWS Marketplace Success: Secured the largest Fortinet CPPO deal in UKIR via AWS Marketplace.
- Licensing Cost Savings: Achieved over $100,000 in licensing cost savings by migrating from MS SQL Enterprise to MS SQL Standard.
Conclusion:
Lendscape's partnership with Cloud Bridge has been transformative. It has led to substantial cost savings, improved security, and increased operational efficiency. This collaboration demonstrates how Cloud Bridge enabled Lendscape to transform and innovate their business by migrating to AWS cloud.