How MobiKwik, a major fintech player, is using CloudKeeper EDP+ to reduce their AWS costs by 27%

Industry:

Financial Services & FinTech

Headquarters:

Gurugram, India

Founded in:

2009

Company Size:

501-1,000 employees

About MobiKwik

MobiKwik is the fastest-growing Indian fintech company specializing in digital payments and financial services. Started as a mobile recharge platform, the company has grown into a comprehensive digital wallet offering bill payments, money transfers, loans, insurance, and investments, with 135 million registered users.

Values delivered

Instant savings of 12% on entire AWS costs.
10% cost reduction through architectural optimizations.
Enhance financial transparency & accountability.

Challenges

Lack of Visibility

MobiKwik struggled to see and understand their cloud expenses, leading to financial uncertainties.

Cost Attribution Issues

Accurately assigning cloud costs to specific applications and teams proved difficult, creating challenges in cost governance and accountability.

Manual RI/SP Management

The company used labor-intensive processes in managing Reserved Instances and Savings Plans, hampering cost optimization.

Challenges with Handling Cost Anomalies

MobiKwik encountered difficulties in identifying and addressing unexpected spikes or dips in cloud expenses, which impacted their budgeting.

Solution

MobiKwik started off their partnership with CloudKeeper AZ as their primary Cloud Cost Optimization solution. They later moved on to CloudKeeper EDP+.They saved 12% on their overall AWS costs almost instantly, without any effort or change in their infrastructure.

They leveraged the RI/SP management features and the enhanced savings on AWS Enterprise Discount Program offered by CloudKeeper. Furthermore, CloudKeeper delivered an additional 15% using several architectural level optimizations which include -

Downgrading the servers to a lower but optimum configuration
Optimized usage of EBS volumes
Migrating from CLB to ALB
Identifying idle/unused resources

Tagging & Cost Allocation

CloudKeeper introduced a system for organizing cloud expenses with tag based reports, enhancing financial transparency and resource allocation for MobiKwik.

Well-Architected Reviews

Backed by AWS-certified cloud experts, CloudKeeper helped them optimize their entire cloud infrastructure according to the AWS design principles.

Anomaly Detection

CloudKeeper implemented a solution to promptly identify and address unusual cost fluctuations, enhancing financial control at MobiKwik.

Graviton Processor Adoption

MobiKwik adopted Graviton processors which turned out to be significantly cost-effective compared to other alternatives with the same processing power.