HDFC Bank partners with Microsoft in its digital transformation journey, ET BrandEquity

HDFC Bank partners with Microsoft in its digital transformation journey, ET BrandEquity

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HDFC Bank, India’s largest private sector bank, is partnering with Microsoft in the next phase of its digital transformation journey with the aim of unlocking business value by transforming its application portfolio, modernizing its data landscape and securing the enterprise with Microsoft Cloud. As part of its Future Ready strategy, the bank is developing internal IPs as well as partnering with several companies, including FinTechs, to co-create technological IPs.

How HDFC will spend Microsoft Azure
The bank will leverage Microsoft Azure to consolidate and modernize the enterprise data landscape through a Federated Data Lake to scale its information management functions across enterprise reporting and advanced analytics using artificial intelligence.

The solution is built on the Microsoft Azure stack, and will enable the bank to democratize and monetize the data landscape that serves multiple business units, spanning multiple systems, reports and processes. The solution powered by its unified architecture, collaborative engineering environment, industry-leading security and ecosystem of AI/ML-based deep learning capabilities.

In addition, the bank will also leverage Microsoft Power Platform’s industry-leading low-code, no-code capabilities to set up an app innovation and automation factory. App Factory will enable the bank to migrate, modernize and transform its application portfolio. HDFC Bank will also use Microsoft 365, to adopt a modern, integrated and secure digital workplace covering three critical transformation areas – employee collaboration, app modernization and secure remote working.

“Our partnership with Microsoft is 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 new banking experience to our customers that is second to none. We do this by investing in proprietary IP also through tie-ups like these, says Ramesh Lakshminarayanan, CEO, Information Technology and Chief Information Officer, HDFC Bank.

Sashi Sreedharan, Managing Director, Microsoft India, said, “We are excited to be a 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 exploiting them Microsoft Cloud Platform and technologies. The partnership will also advance the bank’s digital workplace transformation with Microsoft 365 and will significantly improve the customer and employee experience.”

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According to research firm IDC, the overall Indian market for public cloud services is expected to reach USD 13 billion by 2026, growing at a CAGR of 23.1 percent for 2021-26. The turnover amounted to USD 2.8 billion for the first half of 2022.

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  • Published on January 11, 2023 at 12:40 PM IST
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