SavingsBox Solution – Cloud Migration and Cost Optimization on AWS
SavingsBox Solutions
About SavingsBox
SavingsBox Solutions is a Nigerian fintech platform offering InvestiBox for high-yield investing, flexible SME and Salary Earners Loans, and Jolly — a savings plan that locks in today's food prices to help users beat inflation.
Industry
Financial Services
Location
Nigeria
Use Cases
Migration, Databases, Data & Analytics, Security
Overview
Transnet Cloud partnered with SavingsBox Solutions to modernize its AWS infrastructure, delivering secure, highly available savings, investment, and lending operations for a growing base of over 8,000 active users while strengthening security and optimizing cost.
The Challenge
As SavingsBox's user base grew past 8,000 active savers, the platform needed a secure, scalable, and highly available cloud infrastructure to support real-time savings deposits, investment transactions, and loan applications around the clock, with no tolerance for data loss. Additional challenges included securing customer PII and financial data, managing credentials for financial integrations, and handling peak transaction loads during salary periods without dropping transactions.
Proposed Solution & Architecture
Transnet Cloud designed a secure, highly available AWS architecture purpose-built for real-time savings, investment, and lending transactions.
Cloud Migration & Modernization
Amazon EC2
t3-family compute across two Availability Zones with burstable performance for peak transaction periods
Amazon RDS (Multi-AZ)
Managed relational database for savings, investment, and loan records, replacing a self-managed EC2 database
Amazon S3
Versioned storage for application assets, transaction logs, audit records, and backups
AWS Lambda & API Gateway
Serverless integration layer for new digital services and third-party financial integrations
Amazon SQS
Asynchronous queuing decoupling transaction submission from processing to prevent loss under peak load
Security & Compliance
AWS Secrets Manager
Centralized, auto-rotated credentials for all financial service API integrations
AWS KMS
Customer-managed encryption at rest across RDS, S3, and EBS; TLS enforced in transit
AWS CloudTrail
Full, immutable audit trail of account API activity delivered to a protected S3 bucket
AWS Systems Manager
Session Manager and Patch Manager for administrative access and patching without SSH keys
Monitoring & Cost Optimization
Amazon CloudWatch
Infrastructure and application health monitoring, alarms on CPU, RDS, and SQS queue depth
Amazon SNS
Real-time operational alerting to the SavingsBox and Transnet Cloud engineering teams
Amazon Route 53
Health-checked DNS routing with automatic failover
Outcomes & Success Metrics
Measurable reliability and security gains for a fast-growing savings and lending platform.
Zero savings deposit or loan transactions lost since deploying SQS-based asynchronous processing
100% of financial service API credentials managed in Secrets Manager with automatic rotation
Continuous service availability across the Multi-AZ deployment with no AZ-level outage causing downtime
Infrastructure now supports 8,000+ active savers with headroom for continued growth
TCO Analysis
Transnet Cloud modelled cost across compute, database, messaging, security, and monitoring services, right-sizing instances for the production environment.
$2,021.08
Estimated Monthly AWS Cost
$24,252.96
AWS Annual Recurring Revenue
Lessons Learned
Ensuring SQS-based transaction queuing guaranteed exactly-once processing was the key challenge — duplicate delivery risked account balance reconciliation issues.
Transnet Cloud implemented idempotency keys in the transaction workflow so a message delivered more than once by SQS is still processed only once.
This idempotent-queuing pattern is now Transnet Cloud's standard architecture for future savings and lending platform engagements.
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