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intro

Zero downtime and resilient infrastructure for a neobank

FinTech
2 years
DevOps Transformation
Oct 4, 2022
2 min
Navigation
01
About
Oval Money is an European neobank with 100K users all over the world

Product helped automate savings with AI-driven automatic transfers and easy access to diverse investments. In 2021, Guru Capital acquired Oval Money and integrated the ETX trading platform into a single app.

Active customers:
100K
Savings per user:
£110
Revenue growth:
48%
Years on the market:
7
02
Trustmarks
5

The way their engineers work together is really impressive.

Gergely Bacso
CTO, Ovalmoney
03
challenges

Oval Money faced the following challenges in their work

Strict deadline

Following a swift acquisition of Oval Money, the Client faced the urgent need to assimilate and refine Oval Money's existing infrastructure in a matter of weeks. That was essential to ensure continuous operations and prepare the Oval Money product to merge with the ETX trading platform.

Avoiding downtime

Oval Money was already in production. Therefore, improving its infrastructure without downtime was crucial for the Client to prevent reputation damage and customer churn, potentially costing thousands.

Forging a new alliance

Several months after the acquisition, the Client ended its partnership with a banking service provider that powered Oval Money's operations. As a result, the company has a three-month timeframe to find a new partner, develop a migration plan for the infrastructure, and implement it successfully. Consequently, 8 OpsWorks Co. tech specialists managed to perform the job usually done by 30 skilled engineers and developers.

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04
Tech stack

Technologies we used

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AWS
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Kubernetes
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Terraform
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Ansible
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Python
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Prometheus
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Grafana
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PostgreSQL
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Splunk
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ElasticSearch
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solutions

We found best-fit solutions for Oval Money’s infrastructure

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Rapid project onboarding

The OpsWorks Co. team quickly adapted to the unique aspects of the infrastructure, actively engaging in its integration and enhancement within one month of the acquisition. Concurrently, it managed the migration of ETX’s infrastructure from data centers to AWS.

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Development workflow enhancement

Having worked on the ETX project for a year before acquiring Oval Money, OpsWorks Co.'s experience proved invaluable. We were able to assist developers under urgent conditions and accelerate the time-to-market for new features. When developers made significant codebase changes, OpsWorks Co. supported them on the infrastructure level, contributing with a deep understanding of product logic.

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OpsWorks’ reference Kubernetes infrastructure

To have consistent, scalable and easy-to-maintain infrastructure, our team suggested using our reference Kubernetes architecture for both new (Oval Money) and legacy (ETX Capital) products. To satisfy the clients’ security requirements, we also integrated Splunk as a single destination for all logs, metrics and traces. That transition enabled the Client to effortlessly manage large data volumes, gain accurate analytics, and improve compliance management.

Indicators confirming
our decisions

Robust integration with a banking service provider

Resilient & secure infrastructure capable of withstanding DDoS attacks

Saved costs, high level of end-user satisfaction due to zero downtime

Easier management due to efficient infrastructure maintenance

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07
Why AWS

AWS benefits at a glance

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Easy to use

AWS is designed to allow application providers, ISVs, and vendors to quickly and securely host your applications – whether an existing application or a new SaaS-based application. You can use the AWS Management Console or well-documented web services APIs to access AWS’s application hosting platform.

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Cost-Effective

You pay only for the compute power, storage, and other resources you use, with no long-term contracts or up-front commitments. For more information on comparing the costs of other hosting alternatives with AWS, see the AWS Economics Center.

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Flexible

AWS enables you to select the operating system, programming language, web application platform, database, and other services you need. With AWS, you receive a virtual environment that lets you load the software and services your application requires. This eases the migration process for existing applications while preserving options for building new solutions.

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Reliable

With AWS, you take advantage of a scalable, reliable, and secure global computing infrastructure, the virtual backbone of Amazon.com’s multi-billion dollar online business that has been honed for over a decade.

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Secure

AWS utilizes an end-to-end approach to secure and harden our infrastructure, including physical, operational, and software measures. For more information, see the AWS Security Center.

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Scalable and high-performance

Using AWS tools, Auto Scaling, and Elastic Load Balancing, your application can scale up or down based on demand. Backed by Amazon’s massive infrastructure, you have access to compute and storage resources when you need them.
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