Rackspace Technology spearheads digital transformation for BFC Group Holdings to drive international expansion and innovation

Rhea-AI Summary

Rackspace Technology (NASDAQ: RXT) has announced the successful migration of BFC Group Holdings' core applications to Amazon Web Services (AWS). This strategic shift enables BFC to enhance digital service delivery, eliminating the complexities of in-house data management. The transition resulted in improved performance metrics, including transaction processing speed and system uptime, which increased from 99.95% to 99.99%. BFC aims to leverage this robust platform to further its digital transformation efforts.

Positive

• Increased system uptime from 99.95% to 99.99% after migrating to AWS.
• Enhanced transaction processing capability and customer experience.
• Elimination of in-house data center management costs allows for increased innovation.

Negative

• None.

The shift from on-premise to AWS allows BFC to focus on service delivery instead of managing IT

LONDON, June 21, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, has announced that BFC Group Holdings (BFC), the leading money transfer and currency exchange provider in the Kingdom of Bahrain, is shifting its core application and supporting systems to Amazon Web Services (AWS). The migration creates a robust platform for BFC to focus on delivering seamless financial services to customers without the complexity of managing and maintaining a vast data centre.

Rackspace Technology has helped BFC migrate its core application and supporting systems to the AWS public cloud while providing ongoing management and consultancy services.

Since installing its first servers 40 years ago, BFC has leveraged technology to maintain its competitive edge in the regional remittance and foreign exchange markets. Over the years, those servers multiplied into fully-fledged, mission-critical data centres supporting the company’s expansion to 46,000 pay-out agents in over 30 countries worldwide and — more recently — its growing online operations.

But anticipating the shift away from brick-and-mortar branches towards greater digitisation, BFC embarked on a redevelopment of its core business application.

“With the continued evolution of smartphones and computers, our business is evolving from the traditional brick and mortar to a digital model. Since the COVID-19 pandemic hit, our goal is to cross over more decisively into the digital space by modernising our core application to better support both a digital and physical presence. This will help accelerate our digital innovation,” said Ebrahim Nonoo, the Managing Director and CEO of BFC Group Holding Company.

“We selected Rackspace Technology because they are the best at providing robust technology foundation to companies like ours to achieve our business goals,” Nonoo added.

“Digital transformation is a business imperative for the modern enterprise. By leveraging our global expertise and technology, BFC has maintained its position as the leading money transfer service in the region while improving the customer experience. The scalability of public cloud means BFC can easily expand across boundaries with a consistent level of service no matter the country,” said George Pawlyszyn, General Manager, Middle East and Africa, Rackspace Technology.

Before completing the migration, BFC saw an immediate uplift in critical performance measures, such as transactions processed per second (TPS) and customer experience. Resiliency in the system has improved, and uptime has increased to 99.99% compared to 99.95% with its on-premises environment.

The strategic migration has also eliminated the hassle and expense of managing in-house data centres, enabling BFC to invest more resources into innovation and service improvements.

“As we redeveloped our application, our on-premises environment struggled to provide the performance required,” said Ali Fakhreddine, CIO at BFC. “We didn’t want to invest in refreshing the infrastructure and all what that entails because we know that is not where the future lies. So, we brought forward our plans to move to the cloud.”

About Rackspace Technology
Rackspace Technology is the multicloud solutions expert. We combine our expertise with the world’s leading technologies — across applications, data and security — to deliver end-to-end solutions. We have a proven record of advising customers based on their business challenges, designing solutions that scale, building and managing those solutions, and optimizing returns into the future. As a global, multicloud technology services pioneer, we deliver innovative capabilities of the cloud to help customers build new revenue streams, increase efficiency and create incredible experiences.

Media Contact
Natalie Silva
Rackspace Technology Corporate Communications
publicrelations@rackspace.com

FAQ

What recent development has Rackspace Technology (RXT) announced regarding BFC Group Holdings?

Rackspace Technology has migrated BFC Group Holdings' core applications to Amazon Web Services, enhancing digital service delivery.

How has the migration to AWS impacted BFC's system performance?

The migration has improved BFC's system uptime to 99.99% and enhanced transaction processing speeds.

What benefits does BFC aim to achieve through cloud migration with Rackspace Technology?

BFC aims to focus more on innovation and service improvements while streamlining its digital transformation efforts.

When was the migration of BFC's core applications to AWS announced?

The migration announcement was made on June 21, 2021.