HDFC Bank partners with Microsoft to drive its digital transformation efforts
Private sector bank HDFC has joined hands with Microsoft to drive its next phase of digital transformation. The bank will be employing Microsoft’s services for application portfolio, modernising the data landscape, and enterprise security, it announced on January 3.
HDFC will leverage Microsoft’s cloud platform Azure stack to modernise its enterprise data landscape using a Federated Data Lake. This solution will allow HDFC to monetise and democratise its data landscape and serve different business units, across systems and processes. It will leverage technologies like collaborative learning, unified architecture, and artificial intelligence-based deep learning capabilities.
HDFC will also leverage Microsoft Power Platform’s low code/no code capabilities to set an app innovation and automation factor. This app factory will enable the bank to migrate, modernise, and transform its application portfolio.
“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,” said Sashi Sreedharan, managing director of Microsoft India said
HDFC bank will build a digital workplace based on employee collaboration, app modernisation and secure remote work using Microsoft 365. For security in hybrid work, the bank has embedded Microsoft Security solutions.
“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. At the heart of this is the ability to offer a neo-banking experience to our customers that is second to none. We are doing this by investing in proprietary IP as well through tie-ups like these,” said Ramesh Lakshminarayanan, group head – information technology and chief information officer, HDFC Bank.
As part of its Future Ready strategy, HDFC Bank is developing in-house IPs and partnering with several companies including fintech to co-create technology IPs.