HDFC Bank teams Microsoft for digitalisation

Wednesday 4 January 2023 10:31 CET | News

India-based private sector bank HDFC Bank has announced a partnership with Microsoft to further its digital transformation journey by leveraging Microsoft Azure.


Following the collaboration, the bank is looking to unlock business value by having the application portfolio transformed, the data landscape modernised, and the enterprise secured with Microsoft Cloud. As per information provided in the press release, HDFC Bank is developing in-house IPs and partnering with several companies, including fintechs, to co-create technology IPs as part of its ‘Future Ready’ strategy.

Based on the announcement, the bank is set to leverage Microsoft Azure to have its enterprise data landscape consolidated and modernised through a Federated Data Lake to enable the scalability of its information management capabilities across enterprise reporting, as well as advanced analytics using artificial intelligence.

Details on what the HDFC Bank, Microsoft partnership entails

By having the solution built on Microsoft Azure stack, the bank will be enabled to democratise and monetise its data landscape that caters to various business units, spanning a multitude of systems, reports, and processes. Furthermore, the solution is powered by its unified architecture, collaborative engineering environment as well as its security and ecosystem of AI/ML-based deep learning capabilities.

India based private sector bank HDFC Bank has announced a partnership with Microsoft to further its digital transformation journey by leveraging Microsoft Azure.

Additionally, leveraging Microsoft Power Platform’s low code, no code capabilities, the Bank will set up an App Innovation and Automation Factory, with the App Factory being believed to enable the bank to have its application portfolio migrated, modernised, and transformed. What is more, making use of the Microsoft Power Platform is thought to also help enhance employee productivity and customer experience.

When speaking on the announcement, HDFC Bank representatives have stated that the Microsoft partnership is part of the company’s technology transformation agenda of investing in running the bank, as well as building the bank of the future. With the bank having a focus on the ability to offer to their customers an improved neo-banking experience, officials believe this can be achieved by investing in proprietary IP, as well as in collaborations of the likes of the one with Microsoft. 

Microsoft India spokespersons stated that they are looking forward to working with HDFC Bank towards its digital transformation journey, and to collaborate in creating products and services. As per their statement, said products and services are set to adhere to strict security and compliance standards for customers by taking advantage of Microsoft Cloud Platform and technologies. 

Furthermore, using Microsoft 365, the bank will have the ability to advance its digital workplace transformation and enhance both customer and employee experience. By leveraging Microsoft 365, HDFC Bank is set to adopt a modern, integrated, and secure Digital Workplace that covers three critical transformation areas: employee collaboration, app modernisation, and secure remote work. Additionally, HDFC Bank has had Microsoft Security solution embedded to enable secure hybrid work for its employees.

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Keywords: partnership, digitalisation, banking, online banking, artificial intelligence, machine learning, digital banking
Categories: Banking & Fintech
Companies: HDFC Bank, Microsoft
Countries: India
This article is part of category

Banking & Fintech




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