LuLu Money leverages cloud to deliver industry-leading customer experience

By switching to cloud solutions, the FinTech company has reduced the development-to-deployment cycle by up to 50 per cent.

Published: Mon 19 Oct 2020, 2:07 PM

Last updated: Mon 19 Oct 2020, 4:09 PM

In a major boost to the GCC region's growing influence as an innovation hub, LuLu Money, one of the region's largest homegrown FinTech companies, has scaled up its technology to cloud to enable faster and easier transactions for millions of customers.

The move will help LuLu Money leverage the full potential of cloud to deliver a superior customer experience by pushing out constant software updates, without a downtime of its services.

Speaking about the company's accelerated push on digital transformation, Adeeb Ahamed, Managing Director, LuLu Financial Holdings, said: "We wanted the ability to innovate without reinventing the wheel and were looking for a solution that would help us engineer smart business solutions, without inconveniencing our customers. The shift to cloud is a part of our larger mission to continually invest in solutions that can help design inspiring customer experiences."

Smarter planning, better collaboration and faster roll-out

With a cloud-driven solution strung together on Azure DevOps, LuLu Money has realised significant benefits for stakeholders across the value chain.

For developers, the changeover to the new platform has been quick and hassle-free. It is now easier to roll out updates and releases, without the need for large capital to manage the hosting infrastructure. Through fast integration of multiple services on one platform, the transformation has accelerated the time required to develop, test, and deploy business critical applications, cutting down the development-to-deployment cycle by up to 50 per cent; a factor that will not just help the back-end IT team but also enable a seamless experience for its customers using the app.

"Now that the services we use every day come under one umbrella, it is much easier for us to co-ordinate our activities, collaborate with our team members and be more productive. Also, the ready availability of monitoring and logging tools has cut down the debugging time by up to 60 per cent. That's the kind of remarkable productivity we've unlocked on the cloud," Ahamed said, adding that ultimately, these benefits are being passed on to customers, who get seamless digital experiences and upgrades at optimal costs, with the promise of high availability and security in their transactions. A necessity, in today's continually evolving FinTech landscape.

2020: The Year of Transformation

LuLu Financial Group, which owns the LuLu Money app, is a global financial services enterprise headquartered in Abu Dhabi. The company has plans to amplify its tech intensity further, intending to move its entire legacy infrastructure to cloud over the next two years.

The company was listed by Forbes recently as the second-best exchange house in the GCC region. Founded in 2008, the company serves banking institutions, local and international corporations, and individuals across the UAE, Oman, Kuwait and Bahrain, as well as India, Bangladesh, Philippines, Seychelles, Hong Kong, and Malaysia.

The Group provides a wide range of financial services, including remittances, currency exchange, wage and salary administration, value-added services, shopping cards, and import and export of currencies. The company's digital payments platform LuLu Money is considered among the best homegrown FinTech apps in the GCC region and has been registering a 40 per cent month-on-month growth since the start of this year. The move to all-round digital transformation is in line with the company's vision to deliver various facets of the payments industry for the benefit of the communities it operates in.

More news from Business Technology Review