Spice Money Transforms Digital Payments for Millions of Users with Nutanix
MUMBAI, India – March 20, 2018 – Nutanix (NASDAQ: NTNX), a leader in enterprise cloud computing, today announced the deployment of the Nutanix Enterprise Cloud OS software at Spice Money, a digital wallet subsidiary of Spice Digital Limited. Spice Money chose Nutanix to help with scaling transactions, streamlining their data center management and reducing costs to deploy their services.
Spice Money is used mainly for money transfers withinIndia, and processes over 4 million transactions for more than 2 millioncustomers every month. To date, Spice Money has achieved a GrossTransaction Value (GTV) of $1 billion USD.
Keeping up with its exponential growth while retaining innovation,high performance and reliability of the service are critical objectives forSpice Money. Digitization and digital payments are key areas of growth acrossIndia and customers are increasingly demanding faster and more secure services.Data protection and compliance were also important considerations in theirselection of the Nutanix Enterprise Cloud solution.
As a result of their Nutanix deployment, the company hasbeen able to achieve higher productivity with significantly lower total cost ofownership (TCO). To date, Spice Money has experienced an almost 50% reductionin its overall infrastructure costs and an approximately 40% improvement in itstransaction processing speed.
Nutanix has also helped streamline Spice Money’sperformance monitoring process using Nutanix Prism, which allows onecentralized control plane to manage Spice Money’s compute, storage, hypervisor,network visualization, backup and Disaster Recovery management resources.
Spice Money also selected the Nutanix integrated hypervisor,AHV, to further reduce the cost of virtualization licenses, maintenance andsupport. The ease of provisioning resources with Nutanix also allows SpiceMoney to prepare for disaster recovery scenarios. With their newly modernizedIT infrastructure, Spice Money is expecting more efficient use of existingresources, benefiting both the company and its millions of customers.
“Legacy IT infrastructure is inflexible, vulnerable tooutages and ill-suited to the heavy demands of digital and mobile banking.Three-tier infrastructure doesn’t scale and is expensive, making it impracticalfor a fintech conglomerate such as ourselves,” said Mr. Saket Agarwal,Global CEO of Spice Money. “With our hyperconverged solution from Nutanix,we have dramatically reduced network latency and increased network capacity.Nutanix also allows us to easily perform infrastructure re-provisioning,ensuring quick recovery in the event of a disaster or server outage.”
“Our software-centric approach enables companies like SpiceMoney to reduce the cost and time spent on building and running theirinfrastructure, so they can focus on delivering true business value tocustomers,” said Sunil Mahale, Vice President of Nutanix India. “We are pleasedthat the Nutanix Enterprise Cloud OS software has helped ensure a delightfuluser experience for Spice Money customers. We are confident that by usingNutanix, Spice Money can continue to see the value-added benefits of themodernized data center.”