HDFC Bank partners with Microsoft Azure to scale up information management, use advanced analytics

HDFC Bank has partnered with Microsoft to help the bank scale its information management capabilities across enterprise reporting, and carry out advanced analytics using artificial intelligence. HDFC Bank will use Microsoft’s cloud computing platform Azure to consolidate and modernize its enterprise data landscape through a Federated Data Lake. The solution will enable the bank to democratize and monetize its data catering to several business units, spanning multiple systems, reports and processes.

In addition, HDFC Bank will also set up an App Innovation and Automation Factory. The App Factory will enable the Bank to migrate, modernize and transform its application portfolio. “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.

HDFC Bank will also leverage Microsoft 365, to adopt an integrated and secure Digital Workplace covering three critical areas of transformation – employee collaboration, app modernization and secure remote work. Also, HDFC Bank has embedded Microsoft Security solutions to enable secure hybrid work for its employees.

Also Read

Kotak Bank to grow affordable housing portfolio

Federal Bank eyes up to $486 million fundraising

Deposit rates have not peaked yet: Bankers

‘Small-ticket loans could give payments bank model a boost’

Meanwhile Sashi Sreedharan, Managing Director Microsoft India, said, “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.”

Earlier in December, HDFC Bank had announced that it has opened 100 new branches across India, spread in83 towns of 15 states and union territories. The new branches were digitally launches by MD and CEO, Sashidhar Jagdishan. Underlining the development, Arvind Vohra, Group Head – Retail Branch Banking, HDFC Bank, had said, “We are committed to serve our customers through a combination of physical branch units and digital banking services. We will continue to open more branches in the coming months, making quality banking products and services available across the country.” At the end of December 15, 222, HDFC Bank’s distribution network comprised of 6,762 retail branches, four digital banking units, and 17,076 ATMs across 3,279 cities and small towns.