HDFC Bank collaborates with Microsoft in the next phase of its digital transformation journey to strengthen employee productivity and improve customer experience and security.
HDFC bank will leverage Microsoft Azure to consolidate and advance its enterprise data landscape through a Federated Data Lake to scale its information management abilities across business reporting and cutting-edge analytics using AI.
Last month, HDFC Bank announced the opening of 100 new branches across India, totaling 6,762 retail branches across the country.
“Our partnership with Microsoft is a part of our technology transformation agenda by investing in running the bank as well as building the bank of the future,” said Ramesh Lakshminarayanan, Group Head – Information Technology, and CIO at HDFC Bank.
“At the heart of this is the ability to offer a neo-banking experience to our clients that is second to none. We are doing this by investing in proprietary IP as well through tie ups like these,” he added
HDFC Bank, as a part of its Future Ready strategy, is growing in-house IPs and partnering with several organizations, including FinTechs’ to co-create technology IPs.
Built on the Microsoft Azure stack, the solution will enable the bank to democratize and monetize its data landscape, catering to several business units and spanning multiple systems, reports, and processes. The solution is powered by its unified architecture, collaborative engineering environment, industry-leading security and ecosystem of AI/ML based deep learning capabilities.
In addition, the HDFC bank will also leverage Microsoft Power Platform’s industry-leading low code, no code capabilities to set up an App Innovation and Automation Factory. The App Factory will enable the Bank to migrate, modernize and transform its application portfolio.
Regarding this deal, Sashi Sreedharan, Managing Director of Microsoft India, said, “We are delighted to be part of HDFC Bank’s digital transformation journey and to partner with them to create best-in-class products and services. These products and services will adhere to strict security and compliance standards for customers by leveraging Microsoft Cloud Platform and technologies. The partnership will also advance the bank’s digital workplace transformation with Microsoft 365 and will significantly enhance customer and employee experience.”
HDFC Bank will also leverage Microsoft 365, to adopt a trendy, integrated and secure tech-enabled Workplace covering three critical areas of transformation, employee collaboration, app modernization and secure remote work. Further, HDFC Bank has embedded Microsoft Security solutions to enable secure hybrid work for its employees seamlessly.