Reliance Commercial Finance, as presented by Reliance Capital Ltd., provides loans for real estate, commercial and private vehicles, construction equipment, and infrastructure to more than 70,000 customers, including businesses and individuals. The company also offers loans against existing property and investments, such as gold, and provides microfinance services. Reliance Commercial Finance has an operational presence that spans 66 locations in India, and it is one of the fasting growing nonbanking financial companies in the country.
For seven years, Reliance Commercial Finance used Oracle Exadata Database Machine for its core lending application and Microsoft servers with SQL server databases for its loan verification system. With more than 2,000 users—including up to 500 concurrent users—accessing the company’s core applications every day, the legacy IT infrastructure was struggling to process more than 6,000 daily transactions, especially during peak periods, such as the last five days of each month. It was also time-consuming and costly to manage and track customer-loan applications and approvals across multiple systems. The legacy system also increased customer churn and time to market.
To address these issues, the company implemented Oracle Exalogic Elastic Cloud and Oracle WebLogic Suite to ensure high-performance, high availability, and scalability for its core applications. It also enabled seamless integration with Oracle Exadata Database Machine. These implementations accelerated loan transaction speed by 30% and increased IT staff members’ productivity by 70%. In addition, the financial institution improved its competitiveness by accelerating the customer loan approval process by 3x and slashing new application deployments from eight weeks to one day, thereby increasing customer satisfaction.
Projecting 30% growth annually, Reliance Commercial Finance needed to ensure high performance, high availability, and scalability for its core applications to support increases in transactions and concurrent users during peak periods. By consolidating nine servers onto the Oracle Exalogic platform and seamlessly integrating the system with Oracle Exadata, it optimized transaction throughput for its core applications and accelerated overall batch processing for loan transactions by up to 30%, thanks to the extreme performance and secure InfiniBand networking technology.
Reliance Commercial Finance also cut operating costs by reducing energy consumption and data-center space requirements. It avoided additional costs for operating systems by running Oracle Linux on Oracle Exalogic. Furthermore, the firm improved system manageability by using Oracle Exadata and Oracle Exalogic’s built-in application-to-disk management capability.
“Our IT staff gained an integrated view of the entire core applications’ life cycle, and the team can now easily manage the system without additional training. We increased IT staff productivity by 70%, allowing more time to focus on strategic projects,” said Shashi Ravulapaty, senior vice president and chief technology officer, Reliance Commercial Finance.
Thanks to Oracle Exalogic’s built-in linear scalability, Reliance Commercial Finance eliminated a single point of failure and ensured high availability and scalability for business applications. Users no longer have to wait until the following day for login sessions and to process customer loan applications. The company can now efficiently run multiple applications and support more than 500 concurrent users during peak loan periods without system downtime.
Reliance Commercial Finance wanted to accelerate loan approvals and reduce customer turnover because it could take up to three days to approve or deny a loan application due to the multiple systems involved in the process.
“With Oracle Exalogic and Oracle WebLogic Suite’s private cloud capability, our staff can easily view the status of a client relationship and create a credit rating for each loan application without going through multiple systems. We can now approve a loan in one day instead of three. This capability has helped us to increase customer satisfaction and enhance our competitiveness in the loan market,” Ravulapaty said.
With fierce competition in the loan market, Reliance Commercial Finance needed to rapidly deploy new applications for loan products and services and enable faster time-to-market.
Previously, the company would wait at least six weeks to receive a new server and then another two weeks to have it installed. With Oracle Exalogic, it automated application deployments by enabling users to provision applications in just a few clicks and deploy new applications in less than a day without the need for IT team assistance. As such, the company can now market its new loan services quickly to customers and increase its competitive edge.
Reliance Commercial Finance also implemented Oracle WebLogic Suite to optimize Oracle Exalogic performance and maximize system uptime at minimum cost.
“By implementing Oracle Exalogic and Oracle WebLogic Suite, we reduced the complexity of new application deployments and enabled infrastructure on-demand. The resulting scalability was also a perfect fit for our business requirements,” Ravulapaty said.
Reliance Commercial Finance chose Oracle Exalogic and Oracle WebLogic Suite for its high availability and scalability that could accommodate 30% growth annually and enable rapid application deployments.
“With the scalable infrastructure and ease of manageability provided by Oracle Exalogic and Oracle WebLogic Suite, we can go to market immediately and increase our competitive edge. It also enabled seamless integration with Oracle Exadata, so it was an obvious choice to ensure business continuity,” Ravulapaty said.
Reliance Commercial Finance implemented Oracle Exalogic and Oracle WebLogic Suite in three months. The company’s internal IT team worked with Oracle Advanced Customer Support Services to migrate from Microsoft Windows to Oracle Linux.
Oracle Advanced Customer Support Services provided user training as well as ongoing technical support to ensure the implementation ran smoothly and remained on budget.