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How L&T Financial Services Processes 95% of Motorcycle Loans in Less Than Two Minutes
L&T Financial Services is one of the largest lenders in India. India’s demonetization policy in recent years has led to a shift from cash transactions to digital payments. In 2016, the government withdrew 500 and 1000 rupee notes from circulation and encouraged a heavily cash-based population to deposit their canceled notes in banks. Financial institutions needed to pivot to a new way of doing business to stay competitive. L&T Financial Services modernized its IT infrastructure to keep up with changes and capture digital opportunities.
“Working capital is crucial to stimulate growth in rural communities. Our role as a lender is to provide access to funds. We don’t want to burden borrowers with the complexities of getting a loan. Towards this end, digitization is an important step,” says Dinanath Dubhashi, Managing Director and CEO at L&T Financial Services. “Google Cloud helps us streamline service delivery and identify the right customers. By offering the fastest processing time in the industry, we want to be the go-to lender for all customers.”
L&T Financial Services considered multiple cloud providers before choosing Google Cloud. According to Dinanath, Google Cloud understands both the need for businesses to move fast and the need for IT to modernize at different speeds. “We weren’t forced to abandon existing IT systems and migrate lock, stock, and barrel to Google Cloud on day one.”
L&T Financial Services engaged Google Cloud Professional Services to guide its digital transformation journey. The smooth migration from proof of concept to full-scale deployment on Google Cloud took a matter of months.
“Collaboration: a small idea with big opportunities. G Suite helps us connect remote branches with the head office, easily access shared files to submit and track approvals, and conduct face-to-face discussions to accelerate approval processes.”
—Dinanath Dubhashi, MD and CEO, L&T Financial Services
Digitizing the workforce with G Suite
The move to the cloud at L&T Financial Services started in 2017 when the company introduced G Suite to its 14,500 employees. The legacy email system was cumbersome to use, especially for frontline staff who need email access while they are on the road. Using Gmail, employees can connect with customers and co-workers from anywhere, on any device. Employees save time by scheduling meetings with Calendar, collaborating on Docs, and conducting video calls using Hangouts Meet.
Converting data into credit insights using BigQuery
Taking data intelligence one step further, L&T Financial Services adopts a responsible lending approach by applying algorithm-based data analytics to improve credit standards. Beyond traditional data such as credit score and credit payment history, the company also considers macro-economic indicators for risk audits. For example, a farmer’s ability to pay off the loan of his new tractor depends on a successful planting and harvest. So L&T Financial Services feeds long-term data into BigQuery and runs queries to predict loan defaults based on rainfall and crop yield.
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37:00 Minutes
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On-Demand Webinar: The Underrated Impact of Real-Time Collaboration on Your Business
There comes a time in your life when you have to build that dreaded sales report, once a month. That’s the stuff of nightmares.
First, you need to gather data from multiple sources, sometimes multiple, siloed sheets, different departments, numerous salespeople, and wait endlessly. That’s time-consuming.
Then you have to plot all of that in one sheet, check for errors, and pray that the numbers are accurate enough to make informed decisions. That’s cumbersome and complex.
And then repeat this arduous task, month after month. What do you gain? Sleepless nights.
But had you put all of that data on the cloud, in a platform like Google Sheets—that lets multiple team members input, edit, and work on the same sheet all at the same time—creating sales reports wouldn’t seem like a huge mountain to climb.
In this webinar, Ryan Weber, Product Manager, Google Cloud, provides simple tricks and tips that help you build reports quickly, accurately, and cost-effectively with real-time collaboration, so that you spend more time on innovation and getting products out to market faster. And a lot less time building reports.
Watch this on-demand webinar to find out how.
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9:37 Minutes
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L’Oréal: Managing Big-data Complexity with Google Cloud
L’Oreal is a global company with a presence in 150 countries worldwide. Between managing all of its brands and requirements for different countries, L’Oreal looks to data to make insightful business decisions. How does L’Oreal unify its data across all its systems and databases? How does L’Oreal make the data accessible to thousands of employees? In this video, Antoine Castex, Enterprise Architect at L’Oreal, discusses with Martin Omander how L’Oreal built a serverless, multi-cloud warehouse based on Google Cloud.
Chapters:
0:00 – Intro
0:23 – Why does L’Oreal need a new data warehouse?
0:51 – Who is the L’Oreal group?
1:35 – Which systems does L’Oreal use?
2:14 – How does L’Oreal manage complexity?
3:59 – What is ELT?
4:57 – Who are L’Oreal’s data consumers?
5:41 – How L’Oreal built the data warehouse
8:51 – L’Oreal’s future plans
9:10 – Wrap up
Google Cloud Workflows → https://goo.gle/3q20M1V
Cloud Run → https://goo.gle/3CSWbXG
Eventarc → https://goo.gle/3B7qhFy
BigQuery → https://goo.gle/3KHgyJ3
Looker → https://goo.gle/3Rx4Ind
Checkout more episodes of Serverless Expeditions → https://goo.gle/ServerlessExpeditions
Subscribe to Google Cloud Tech → https://goo.gle/GoogleCloudTech
The Tech Behind Goibibo’s Amazing Collaboration Tool That Employees Love
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5:30 Minutes
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Founded in 2007 and entering the travel market in 2009, Goibibo has grown to support 21 million users, 98% of whom are based in India. “We
Goibibo started with two engineers and three business managers—a workforce that has grown to 200 engineers and about 300 business managers, including a large business development team. “Our business development managers are integral to our growth, as they help build relationships with partners such as hotels,”Sahni says
Goibibo prides itself on a culture of fast-paced development and innovation. However, it had initially elected to run traditional workforce productivity applications on in-house servers. These applications forced team members who needed input into proposals, presentations, spreadsheets, and other business documents to send out drafts, and then aggregate and consolidate feedback from multiple sources.
This process was not just time-consuming, but vulnerable to version control problems as several versions of the same document could be in circulation throughout the business.
Furthermore, Goibibo had to expend considerable time and resources maintaining and upgrading hardware, software, and associated facilities. This ate into the technology team’s ability to improve the features and functionality of the company’s websites and applications.
How the Telegraph is Reimagining Media with Google Cloud
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Whether they’re reading the newspaper on the way to work, or catching up on the latest headlines on their smartphones, readers expect up-to-the-minute news wherever and whenever makes the most sense for them. As a result, media companies are increasingly looking for ways to improve, expand, and simplify their offerings, and they’re increasingly looking to the cloud to do it.
For more than 160 years The Telegraph has been counted on by readers across the United Kingdom and globally for award-winning news and journalism. An early adopter of cloud technology, it’s been a G Suite customer since 2008 and has already been using Google Cloud Platform to analyze digital behaviors to improve engagement and advertising performance since 2016.
Recently, The Telegraph announced it’s migrating fully to Google Cloud. By migrating all their production and pre-production services, they aim to deliver content faster, provide compelling experiences to readers, and reduce environmental impact.
“We are delighted to announce our newest collaboration with Google Cloud,” said Chris Taylor, Chief Information Officer, The Telegraph. “We have always worked closely with Google as they help us to provide our readers with great experiences on our digital products, collaboration software and internet scale through search. Their continued leadership in projects such as Kubernetes are enabling us to build flexible development environments that truly support DevOps.”
Powering the Digital Publishing Ecosystem
The Telegraph produces large volumes of digital content every day. It was imperative for them to find a cloud provider they could trust to support this ecosystem. By working with Google Cloud they have changed the way they see and engage with data: they can collect new information about their products every second and use that to continually hone their strategy. The Telegraph are placing more confidence and trust in the data captured about their content and now have one of the best available pieces of technology for capturing and analyzing the stories they publish in real-time.
Leveraging AI to support journalists
Time is critical when journalists are on a story, and The Telegraph wants to put important data in the hands of its journalists right when they need it. To do this, it will be using AutoML to classify content for journalists and make it more discoverable. For example, a reporter will be able to bring up relevant assets that link to their stories. It will also apply AutoML to classify Telegraph stock photos to help journalists attach compelling visual content to their stories faster.
Building compelling reader experiences with the help of APIs
Readers have an ever-increasing expectation of personalization. To meet this need, The Telegraph launched My Telegraph, currently live in beta, to offer registered readers personalized news experiences based on their interests or the particular journalists they want to follow. My Telegraph was developed on an API management platform provided by Google Cloud’s Apigee. You can learn more about how it’s applying API management to My Telegraph, in this blog post.
Working for environmental good
The Telegraph is the biggest selling quality newspaper in the UK, an accolade which requires it to print and distribute hundreds of thousands of copies each day. Optimal management of print production is important, and by using a combination of the cloud and machine learning, The Telegraph is better able to predict demand for physical newspapers, maximizing sales and minimizing waste. This makes great business sense for The Telegraph but also has great environmental benefit.
Google Cloud VMware Engine Achieves HIPAA Compliance
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We are excited to announce that as of April 1, 2021, Google Cloud VMware Engine is covered under the Google Cloud Business Associate Agreement (BAA), meaning it has achieved HIPAA compliance. Healthcare organizations can now migrate and run their HIPAA-compliant VMware workloads in a fully compatible VMware Cloud Verified stack running natively in Google Cloud with Google Cloud VMware Engine, without changes or re-architecture to tools, processes, or applications.
Healthcare organizations increasingly use cloud platforms to personalize patient care, analyze large datasets more effectively, enhance research and development collaboration, and share medical knowledge. Leveraging cloud platforms can also help healthcare organizations increase the privacy and security of information systems, including protected health information (PHI), and, as a result, better comply with applicable laws and regulations while reducing the burden of compliance. For PHI, the Health Insurance Portability and Accountability Act of 1996 (HIPAA) set standards in the United States to protect individually identifiable health information. HIPAA applies to health plans, most healthcare providers, and healthcare clearinghouses that manage PHI electronically, and to persons or entities that perform certain functions on their behalf.
With Google Cloud, organizations can leverage solutions that enable secure, continuous patient care and data-driven clinical and operational decisions with ease, while being empowered with collaboration and productivity tools. Further, Google Cloud Platform supports HIPAA compliance. We offer HIPAA-regulated customers the same products at the same pricing that is available to all customers, unlike many other cloud providers.
For healthcare organizations that leverage VMware on-premises, having a consistent, cloud-integrated platform that provides seamless access to native cloud services unlocks the opportunity to extend, migrate, and modernize healthcare IT infrastructure and applications in a fast, low-risk manner at their own pace. This is especially important for mission-critical healthcare provider workloads, where having a low-risk way to adopt the cloud is important. Google Cloud VMware Engine offers that solution. By achieving coverage under Google Cloud’s BAA, Google Cloud VMware Engine enables healthcare organizations to realize the benefits of cloud computing and stay on track with their HIPAA compliance efforts without additional complexity. This is very relevant in hybrid scenarios, where customers would like to leverage other native cloud services such as analytics and big data processing, without having to enter into multiple BAAs.
Google Cloud VMware Engine offers dedicated, isolated software-defined datacenter environments with fully redundant and dedicated 100 Gbps networking that are suitable for healthcare organizations to run applications storing and processing PHI data. Customers have the ability to encrypt their virtual storage area network (vSAN) using an external key management server. Healthcare customers can run their workloads in a native VMware environment—vSphere, vCenter, vSAN, NSX-T, and HCX—while benefiting from Google Cloud’s highly performant infrastructure to meet the needs of their workloads. Customers can connect their VMware applications to native Google Cloud services such as BigQuery and artificial intelligence (AI) to derive new insights from existing data and quickly make informed decisions.
Protecting against and mitigating the impact of ransomware attacks is top-of-mind for Healthcare organizations. This requires building a cyber resilience program and back-up strategy to prepare for how users can restore core systems or assets affected by a security (in this case, ransomware) incident. This is a critical function for supporting recovery timelines and lessening the impact of a cyber event so organizations can get back to operating their business. Google Cloud VMware Engine in combination with Google Cloud first party solutions such as Actifio Go, or partner solutions such as NetApp CVO can provide an efficient way to recover incremental point-in-time backups along with on-demand provisioning of new compute to recover both data and infrastructure from Ransomware attacks quickly and efficiently.
Healthcare customers can also use Google Cloud VMware Engine as a disaster recovery (DR) target for their on-premises VMware workloads. Healthcare organizations also need a business continuity plan for their mission critical applications. When a disaster occurs, hospitals need their data protected so they can quickly get back to treating patients. It is a HIPAA requirement that healthcare organizations must be able to recover from a natural disaster. Google Cloud VMware Engine offers a like-for-like cost-effective DR target for these customers. The DR environment can be operated without new training using the same tools as their on-premises deployment. Google Cloud VMware Engine is currently available in 12 regions across the globe including three regions in the US, which means our regional and multi-national customers can take advantage of this service for geographic diversification as well.
If you are interested in understanding more and taking advantage of Google Cloud VMware Engine, contact your Google sales team now.
For details, see HIPAA compliance on Google Cloud Platform.
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