Microsoft has joined hands with HDFC Bank, India’s largest private sector bank, in the next phase of its digital transformation journey. This partnership will also assist HDFC to unlock business value by transforming the application portfolio, modernizing the data landscape, and securing the enterprise with Microsoft Cloud.
As a part of its Future Ready strategy, HDFC Bank is developing in-house IPs as well as partnering with several companies including FinTechs’ to co-create technology IPs. It will be leveraging Microsoft Azure to consolidate and modernize its enterprise data landscape via a Federated Data Lake for the purpose of scaling its information management capabilities across enterprise reporting, and advanced analytics using artificial intelligence.
“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, at HDFC Bank.
Sashi Sreedharan, Managing Director of Microsoft India said, “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.”
HDFC Bank will also leverage Microsoft 365, to adopt a modern, integrated, and secure Digital Workplace covering three critical areas of transformation – employee collaboration, app modernization, and secure remote work.