Case Study
Case Study
LendingPoint gets API Performance Monitoring with Splunk Cloud
How we fixed it:
Technology Involved:
Customer: LendingPoint
Industry: Financial Services
Business Pain: LendingPoint is a FinTech lender who provides personal loans for up to $25,000 for people with credit scores in the range 580 – 850. They primarily use Salesforce to run the CRM process and determine whether an application should be approved or denied. They use multiple APIs during the application process. It is key that these APIs are always performing as per SLA, otherwise, application process can be delayed, causing the company lost revenue. There was no monitoring for API performance and no way to figure out an API was not responsive. Only found out when tickets were created by end users who could not retrieve data. End up in substantial lost revenue which hurt the business.
How we fixed it:
A Splunk Cloud solution was offered and deployed with a 25GB/day license, to start with monitoring of the APIs. All the API logs were individually parsed and ingested into Splunk. These logs were then further processed, and displayed on a dashboard that would display current response times for the APIs along with a historical chart for all APIs, so that the monitoring team can see API performance trend over time.
Along with the single pane of glass, alerts were also setup to help determine if any APIs had a response times over certain threshold.
The customer also leveraged Splunk to monitor their Salesforce platform, AWS Infrastructure and Network and Infrastructure security.
The return on investment for LendingPoint was instant in this case, because the MTTR to fix broken APIs reduced significantly. This meant that the customer was not losing revenue like they were before Splunk. These savings in lost revenue were far greater than what the customer was paying for Splunk annually.
Technology Involved: Splunk Cloud
How we fixed it: TekStream conducted a Well-Architected review with many cross-functional team members- from InfoSec, development, and Operations.
The Well-Architected review provided a platform that allows all the different teams to get aligned on business goals and understand areas of improvement around their AWS account.
In addition to providing some guidelines for moving forward, (Metrics, Monitoring, establish KPIs, runbooks, playbooks, etc.), the stakeholders were able to align themselves along with business initiative and have general agreement on a go-forward strategy.
Technology Involved: AWS Well-Architected Tool
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