By Ruma Sanyal-Oracle on May 08, 2014
Reliance Commercial Finance 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 has an operational presence that spans 66 locations in India, and it is one of the fasting growing nonbanking financial companies in the country.
With more than 2,000 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 increased customer churn and time to market.
To address these issues, the company implemented Oracle WebLogic Suite and Oracle Exalogic Elastic Cloud 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. Complete details of Reliance Commercial Finance's use case can be found here.