HDFC Bank, India’s largest private sector bank, will use Microsoft’s Azure cloud platform and services like Microsoft Power Platform and Microsoft 365 as part of its digital transformation.
HDFC bank will leverage Microsoft Azure to “consolidate and modernise” its enterprise data by creating a Federated Data Lake.
This is intended to scale its information management capabilities by using advanced artificial intelligence (AI) to drive analytics.
Built on the Microsoft Azure stack, the solution will enable the bank to store, analyse, and monetise data across several business units, spanning multiple systems, reports and processes.
HDFC Bank’s Group Head, IT and CIO, Ramesh Lakshminarayanan, said the partnership with Microsoft was part of the technology transformation agenda of the bank which was investing in building the “bank of the future”.
“At the heart of this is the ability to offer a neo-banking experience to customers. We are doing this by investing in proprietary IP as well through tie-ups like these,” Lakshminarayanan said.
The bank will also use Microsoft Power Platform’s low code/no code capabilities to set up an app innovation and automation factory.
“The App Factory will enable the bank to migrate, modernise and transform its application portfolio,” it added.
The bank will also use Microsoft 365, to adopt a modern, integrated and secure “digital workplace” covering three critical areas of transformation – employee collaboration, app modernisation and secure remote work.
HDFC Bank has also “embedded” Microsoft Security solutions to enable secure hybrid work for its employees.
Microsoft India’s Managing Director, Sashi Sreedharan, said that 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,” he added.
The tie-up is part of HDFC bank’s Future Ready strategy, where it is developing in-house IPs as well as partnering with several companies including fintechs to co-create technology IPs.