eGlobal banks on Elastic to excel as a leader in the credit card transactions sector
As the head of the Data Science Division at eGlobal, I knew we needed a digital transformation makeover to meet our strategic objectives, which were first and foremost to increase revenue by retaining and attracting new clients and enhancing eGlobal’s products and services.
Our legacy, proprietary solutions and data warehouse model were barriers to reaching our goals. We needed to optimize resources, reduce operational costs, and have real-time analytics. As a first step in our makeover, we had to ensure that our internal clients had solutions that were easy to implement and operate, and capable of delivering added value across the organization.
While our services help carry out more than 2.6 billion credit card transactions that add up to 50 billion dollars annually, choosing Elastic to help us digitally transform our Mexico-based company was the right decision to maintain our industry leader status.
Achieving business goals with Elastic
Lucky for us, we have a strategic partner, Nrich, that recommended Elastic as they have substantial experience with deploying, managing, and optimizing the usage of the Elastic platform in the financial sector.
After getting initial support from Elastic Training, we decided it was the ideal tool to transform our business. We discovered that Elastic is extremely powerful and flexible, and simple to configure and operate.
Elastic addressed some of our specific IT needs which has dramatically helped us achieve our goals while enhancing the internal and external customer experience.
- We now ingest, process, and display up to 500 transactions per second without delay
- With Kibana, our dashboards are dynamic, and are updated in near-real-time without having to resort to code/SQL
- Elastic allows us to search and retrieve transactions in milliseconds with limited computing resources
These enhancements have improved business processes and reduced time to detect and isolate issues. We now have the ability to define business rules in a powerful way, allowing us to detect more patterns and anomalies. A significant benefit is the ability to see logs of transactions in real time. Nrich continues to help us enrich and maintain the information service created on top of Elastic.
Faster detection times and reduced costs
We couldn’t have been happier with our decision to embrace Elastic. The metrics speak for themselves, and have surpassed our goals. We’ve experienced:
- Approximately 50% faster detection times for issues
- Approximately 80% less time invested in training analysts responsible for transaction monitoring
But beyond the metrics, other business benefits include Elastic enabling the Data Science Division to start a fundamental change within the company. The success we achieved instilled confidence in us from other divisions, and now they are much more open to our ideas.
Thanks to Elastic, we now offer our external clients multiple solutions faster and cheaper than before, which makes them more satisfied with eGlobal as a whole. We have reduced costs, simplified business processes, and added new customers.
Considering a digital makeover for your company? Elastic Cloud offers enterprise search, observability, and security for the cloud.