RDS for FinTech Scalable & Compliant
Business Situation
A rapidly growing FinTech organization was searching for a database solution to:
- Keep up with growing transactional volumes from an increasing number of customers and dealers.
- Safeguard data, properly manage regulatory compliance, and archive data.
- Provide real-time query-analytic data to inform pricing engines and loan risk assessments.
Technical Situation
- All existing monolithic databases experienced performance issues for peak periods (application loads from loans, bidding).
- Scaling, backups were manual with an opportunity for downtime.
- Patches were all manual, and not being able to monitor left security holes from audits.
Recommendations
- Move all transactions and analytic databases into Amazon RDS – PostgreSQL.
- Utilize Multi-AZ deployment for high availability and automatic failover.
- Utilize read replicas to also support the real-time analytics and reporting without harming primary workloads.
- Automate backups and patch. Encryption-in-transit, encryption-at-rest for compliance.
- Use AWS IAM for fine-grained access control.
Architecture Overview
- Amazon RDS (PostgreSQL) deployed as the primary DB.
- Multi-AZ + Read replicas for failover, and scale-out.
- AWS CloudWatch & Performance Insights for proactive monitoring.
- S3 + KMS for long-term backup storage with encryption.
Benefits & Impact
- 99.95 % uptime achieved with Multi-AZ RDS set-up.
- Decreased operational overhead by 40% through automation for backups/patching.
- Higher regulatory compliance coverage with automatic encryption and built-in auditing.
- Faster decision-making: pricing engines queries.
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