Rapyd Financial Network, a global leader in fintech-as-a-service, has made a strategic leap to improve its database performance, scalability, and security by migrating to MySQL Enterprise Edition. This move has led to a 30% reduction in cloud computing costs, enhanced database availability, and fortified security, positioning Rapyd for sustained growth in the highly competitive fintech space.
A Vision for Growth
Founded in Tel Aviv in 2016, Rapyd provides a comprehensive suite of payment services, enabling businesses worldwide to accept payments, issue payouts, and manage accounts across multiple currencies. With a rapidly expanding global presence, including offices in the U.S., Europe, Asia, and the Middle East, Rapyd supports over 900 payment methods, ranging from credit cards to mobile payments.
As the company grew, so did its infrastructure needs. Initially using Amazon RDS for MySQL as a managed database service, Rapyd encountered significant limitations—high costs, lack of database visibility, and insufficient control over essential resources. Moreover, performance bottlenecks and downtime during system upgrades threatened service reliability and the company’s ability to meet client service level agreements (SLAs).
The Challenges of a Managed Service
Rapyd’s engineers struggled with limited access to database internals like cache and memory, which hindered performance optimization. Additionally, the use of a standalone RDS instance, without fault tolerance, meant prolonged downtimes during system maintenance, which was costly both in terms of time and customer satisfaction. The support provided by AWS did not meet the specialized requirements of a fintech platform like Rapyd, which needed more tailored solutions.
Security also posed a critical challenge. Given the sensitive nature of financial data, Rapyd required robust safeguards such as encryption, database masking, and granular access control—features that were lacking in their previous setup.
MySQL Enterprise Edition: A Game-Changer
Rapyd’s migration to MySQL Enterprise Edition was a turning point. By moving from RDS to a self-managed InnoDB Cluster on EC2, Rapyd significantly boosted the reliability and resilience of its platform. The InnoDB Cluster’s built-in fault tolerance ensured that database downtime during maintenance was a thing of the past. For example, during a recent issue where a customer’s database was locking up, Rapyd was able to restart the service and seamlessly transition to a new primary cluster, avoiding downtime entirely—something that would have been impossible with RDS.
MySQL Enterprise’s Performance Schema also gave Rapyd real-time visibility into database resource utilization, locks, and query performance. This transparency allowed the team to identify and resolve issues faster, improving operational efficiency and enabling better scalability. As Yossi Bronshtein, Rapyd’s R&D DevOps Director, put it, “We now have a comprehensive view of the database from the inside out. This makes debugging easier and gives us greater control when scaling.”
The transition to MySQL Enterprise Edition also led to impressive cost savings. By customizing storage configurations and optimizing infrastructure, Rapyd achieved a 30% reduction in cloud computing costs. This was a direct result of MySQL’s flexibility and the team’s increased control over resource allocation.
Security and Support: Tailored for Fintech
Given the sensitive nature of financial data, Rapyd was also able to bolster security with MySQL Enterprise Edition. Data encryption, access controls, and audit logging strengthened the platform’s defenses against potential breaches. MySQL’s advanced security features ensured that Rapyd met the strict compliance requirements of the fintech industry, keeping customer data safe.
Additionally, Rapyd experienced significant improvements in support quality. Unlike their previous experience with AWS RDS, Rapyd now has direct access to MySQL engineers who understand their specific needs. This expert support has made a tangible difference, reducing troubleshooting times and helping Rapyd optimize its database environment for future growth.
A Future-Proof Solution
By migrating to MySQL Enterprise Edition, Rapyd has strengthened its competitive edge, improved service reliability, and enhanced database performance. This strategic move aligns perfectly with their vision for future growth in the fintech space, empowering the company to innovate faster, scale efficiently, and provide a more secure and reliable service to customers worldwide.
For Rapyd, MySQL Enterprise Edition is not just a database solution—it’s a critical enabler of their mission to provide seamless, borderless financial services. As the company continues to expand, this robust database infrastructure ensures that they can stay ahead in the ever-evolving world of fintech.
“In today’s fintech world, speed, security, and resilience are key features to success, and MySQL Enterprise Edition ticked all of our boxes,” says Bronshtein. With MySQL’s advanced features and expert support, Rapyd is well-positioned for the challenges and opportunities of tomorrow’s global financial ecosystem.
Read the full customer reference
Additional resources:
Read blog: MySQL Enterprise Edition for Financial Services
Read blog: Boosting Profitability in Financial Services with MySQL
Read blog: Enhancing Security and Compliance in Financial Services with MySQL Enterprise Edition
Read Additional Success Stories
Learn more about MySQL for Financial Services