Why New Relic
Designed to solve complex performance problems painlessly and deliver actionable information
- Helps to enable continual improvement of the customer experience
- Helps to identify new opportunities for innovation
"Within 15 minutes of using it in production, we had identified the cause of a problem that was affecting customer experience on the platform. After that experience, we expanded New Relic to our entire server footprint.”
Gaining insight into performance during daily usage spikes
Lending Club is a technology company that is transforming financial services. “We’re not a bank, we are a marketplace and we use technology to reduce our costs, provide more affordable rates to borrowers, and deliver strong returns for investors,” says John MacIlwaine, chief technology officer at Lending Club.
With technology as the heart of the Lending Club marketplace, the IT department is under tremendous pressure to deliver a great customer experience. To that end, when Rob Schoening, DevOps engineer at Lending Club, first joined the company, he recognized the need for an application performance management tool.
“One of the unique aspects of Lending Club is that four times each day we list loan investment opportunities on our public website, which means that four times each day there is a large spike of activity that is three or four times greater than our baseline,” says Schoening. The company needed a way to gain deeper visibility into application performance during these bursts of activity and identify any issues impacting the customer experience on the website.
“Based on my previous experience, I recommended that we bring in New Relic to help with performance, quality, and optimization,” says Schoening. “It’s excellent at identifying complex performance problems.”
“New Relic has been instrumental in executing our technology vision for the business. Because we can now see and quantify the impact that our technology is having on our users and their experience, it has allowed us to be very prescriptive in our efforts to scale the platform, continually improve our customer experience, and innovate in new areas.”
New Relic delivers results within minutes of deployment
When Lending Club deployed New Relic® APM™, New Relic® Browser™, and New Relic® Servers™, the benefits were immediately obvious. Initially planned for use in the quality assurance (QA) environment, after using it in QA, the Lending Club team decided to move New Relic to production as well.
Now Lending Club’s development, operations, architecture, and quality assurance staff all rely on New Relic to gain visibility into performance, identify root causes, and prioritize actions. New Relic has also enabled Lending Club to hone its agile development model. With the insight New Relic has provided into performance, the company has gained greater confidence in its ability to rapidly innovate with its technology. “New Relic has become an integral part of the deployment and post-deployment process,” says Schoening. “It’s essential to our success.”
Using data and insight to disrupt and innovate
While New Relic has become an essential tool to help Lending Club optimize the customer experience, its value to the financial industry upstart extends beyond the current capabilities the company offers within its marketplace.
“New Relic has been very instrumental in our technology vision for the business,” says MacIlwaine. “Because we can now see and quantify the impact that our technology is having on our users and their experience, it has allowed us to be very prescriptive in our efforts to scale the platform, continually improve our customer experience, and innovate in new areas.”
As Lending Club continues to upend the lending business to the benefit of consumers and everyday investors, New Relic will be there to help the company optimize and revolutionize the experience for its customers. “The ability to create a marketplace that connects borrowers with investors and utilizes technology that is truly disruptive is really exciting,” says MacIlwaine. “It’s simply liberating – for borrowers, investors, and for us.”