FE becomes Viet Nam’s first non-bank financial services provider to be fully hosted in the cloud. — Photo courtesy of the firm

Amazon Web Services, Inc said FE Credit, the largest consumer lender in Viet Nam, has moved the vast majority of its IT infrastructure to its cloud.

FE becomes Viet Nam’s first non-bank financial services provider to be fully hosted in the cloud.

“At FE Credit we focus on providing our customers with innovative financial services that exceed their expectations,” Kalidas Ghose, its vice chairman and chief executive officer, said.

“And moving our entire infrastructure to AWS is part of our decision to scale up our capacity for innovation. We gain the speed and agility required to launch new financial services more easily, and we are better able to fulfil the financial needs of future customers.”

The company has migrated most of its mission-critical applications to AWS, including the Infosys Finacle Digital Banking solution suite and its own $NAP and SHIELD mobile applications for consumer loans, credit cards and insurance products.

This is expected to enable it to launch new

consumer products faster while lowering costs.

FE Credit’s customer base has grown nearly four-fold since 2015 to 11 million by the end of 2020, of which 95 per cent are smartphone users.

Meeting the financial needs of this customer base quickly and easily is a priority for the company.

By scaling its workloads based on demand using Amazon Elastic Compute Cloud, FE Credit has reduced the time required to deploy new functions for finacle digital banking from three months to two weeks and expects to reduce infrastructure maintenance and operation costs over the next five years.

It can also monitor and automate compliance more easily by leveraging AWS’s infrastructure while continuing to store personal customer data safely in its on-premises environment. — VNS