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Revolutionizing Document Management: A Serverless Success Story at Hero FinCorp

Vendors Amazon Web Services

Hero FinCorp serves over 2000 retail financing touchpoints across the country and boasts more than 2000 corporate clients.

Hero FinCorp, an Indian Non-Banking Financial Company (NBFC), is a subsidiary of Hero
MotoCorp, a leading automobile company based in India. Hero FinCorp serves over 2000
retail financing touchpoints across the country and boasts more than 2000 corporate clients.

The NBFC offers financing for Hero MotoCorp two-wheeler consumers, loyalty customer
loans, and loans against property.

The Aspiration

Hero FinCorp collects a vast number of documents for loan and finance processing, including Aadhar cards, PAN cards, bank account details, and more. They recognized that although they had processes for document integration, filtering, modification, and deletion, they would need to level up their approach to data management by introducing a centralized document system to ensure that they could handle data more efficiently.

The Solution

To address this challenge, Noventiq (formerly Umbrella Infocare) developed a cutting-edge Document Management System (DMS) application. This DMS seamlessly integrates with third-party applications that collect documents, streamlining the document management process. The DMS serves as a central document repository, enabling other Line of Business (LOB) applications to store, retrieve, and update documents effortlessly.

The DMS application was developed following a serverless architecture. Python was leveraged for backend RESTful APIs, while Angular was used for the frontend web application. Core AWS services, including AWS Lambda and Amazon API Gateway, were employed for deploying application components. RESTful APIs were hosted on AWS Lambda and published via Amazon API Gateway, while the frontend app was deployed on S3 and published via CloudFront.

Faster Data Processing with AWS Lambda

AWS Lambda played a crucial role in the efficient processing of documents for Hero FinCorp. It picked up, processed, and stored data while running various background processes. The benefits of AWS Lambda included:

  • Handling large record loads within minutes.
  • Continuous scaling of applications through event-triggered code running in parallel.
  • No need for infrastructure provisioning or management.
  • Seamless integration with Amazon API Gateway and other connection points.
  • Drastically reduced costs through millisecond metering.
  • Built-in fault tolerance and enhanced security through integration with AWS Identity and Access Management (IAM).

Amazon API Gateway for Efficiency, Performance, and Low Costs: Hero FinCorp utilized RESTful APIs for connecting frontend applications and backend components. HTTP APIs were used to create RESTful APIs, reducing costs and latency. These APIs were published via Amazon API Gateway, accessed by frontend apps, and third-party LOB applications for interaction purposes. The benefits of Amazon API Gateway included:

  • Access control for APIs using Identity and Access Management (IAM).
  • Monitoring of APIs with CloudWatch.
  • Improved response times through API caching using CloudFront.
  • Scalability with reduced costs as API usage increased.

Amazon API Gateway also offered additional security features, performance monitoring, and cost-effective API development.

The Outcome

In addition to speed, scale, agility, performance, cost reduction, and ease of management, AWS Lambda and Amazon API Gateway provided Hero FinCorp's DMS with several other benefits, including:

  • Innovation and modernization of applications.
  • Support for serverless applications.
  • Easy monitoring and robust, flexible security.
  • Efficient API development.

These services seamlessly integrated with other AWS services and found applications across multiple use cases.

The Takeaway

Shiv Ram, Head of IT Infrastructure at Hero FinCorp, stated,

"Thanks to a highly sophisticated monitoring environment that maps adherence with AWS best practices and CIS benchmarks and takes remedial measures, HeroFin operations are always compliant and technology has enabled us to meet critical business objectives."

Noventiq's collaboration with Hero FinCorp showcases how expertise and innovative solutions can revolutionize document management, driving efficiency and cost savings in the financial sector.

For more information on how Noventiq can assist your organization in achieving similar success, contact us today for a consultation.

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