Worldsys boosts agility and service quality with Oracle Cloud Infrastructure
The regulatory technology company centralizes its custom software on Oracle Cloud Infrastructure, simplifying installations and enhancing scalability.
“By consolidating on Oracle Cloud Infrastructure, we can now rapidly deploy our software solutions, offer transparent and predictable pricing models, and have the flexibility to grow according to our clients’ needs. We also increased service availability, simplified IT management, and reduced costs by more than 30%.”
Business challenges
With more than 40 years in the regulatory technology market, Worldsys is a leading provider of regtech solutions, offering tools to help clients mitigate risks in their daily operations and comply with local and international laws.
The company’s software was hosted both on-premises in various countries of operation and through several cloud providers, making it difficult to manage administration efficiently and to scale in line with business needs.
In addition, cost management and customer pricing and invoicing was multifaceted and time consuming, with hardware expenses difficult to pinpoint due to the complexity of the company’s infrastructure and fluctuations in global currencies.
To accelerate client installations and improve service quality, Worldsys wanted to consolidate its software onto a single, secure, reliable, and highly scalable cloud infrastructure capable of processing millions of complex transactions per day. This would enable the firm to enhance IT and business agility as well as simplify and rationalize costs.
With Oracle Cloud, we can provide our customers with peace of mind and ensure their full regulatory compliance.
Why Worldsys chose Oracle
Worldsys conducted a highly detailed cost analysis among multiple vendors, including Microsoft, Amazon, Google, and Oracle, and found Oracle’s proposal to be superior not only in terms of operational costs but also in the stability of its uniform pricing model and fixed exchange rates. The company selected Oracle Cloud Infrastructure (OCI), Oracle Autonomous Database, Autonomous Database for transaction processing, plus Oracle Active Data Guard for enhanced data recovery.
Additionally, Worldsys was impressed with the level of personalized attention offered by the Oracle team, in addition to the high-quality Oracle references provided by its financial industry peers.
With OCI, Worldsys increased the availability and security of software relied on by major financial institutions to detect and prevent unlawful transactions.
Results
Worldsys centralized the hosting of its regulatory compliance software—previously running on-premises and via a range of cloud service providers, including Google, Amazon, and Microsoft—on Oracle Cloud Infrastructure (OCI). The move of more than 100 servers to OCI has greatly reduced costs, simplified installations for its global client base, and boosted the firm’s agility in processing millions of complex transactions per day.
The company also moved its third-party artificial intelligence and machine learning solutions to OCI, which significantly improved service quality to banking and financial institutions and enabled Worldsys to rise to the challenges posed by cryptocurrencies.
Worldsys also increased the reliability of its services by using Oracle Autonomous Database for transaction processing to process up to 10 million unique monitoring searches per day—with each search scanning millions of records. The company has now achieved 100% availability for more than 18 months, ensuring that both Worldsys and its clients are in full compliance with financial and associated regulations.
By implementing OCI and Oracle Autonomous Database, Worldsys has considerably enhanced scalability, which is crucial in the financial monitoring industry where transaction volumes fluctuate dramatically. The company’s technicians no longer must urgently respond to capacity alerts and hastily set up physical servers during peak times, but instead simply rely on OCI’s automatic scaling tools.
By centralizing its regulatory compliance software on OCI, Worldsys has achieved cost savings of more than 30%. It also simplified budgeting, pricing, and invoicing for its clients worldwide because the server rates are the same regardless of the data center location. Additionally, the company arranged a fixed exchange rate contract with Oracle, further simplifying costs and enhancing budget predictability.
The OCI deployment has also helped to increase Worldsys’ security against the cyberattacks it faces as a company in the financial industry. It also improved business continuity by using Oracle Active Data Guard to enhance the data recovery process.
The OCI implementation also saved company technicians’ valuable time and boosted morale, because they no longer need to deal with infrastructure deployment, maintenance, and incident resolution, and instead focus on meeting the company’s growth objectives.
About the customer
A leading regtech company in Latin America, Worldsys designs flexible technological solutions in the field of regulatory compliance, helping clients mitigate operational risks.