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Mumbai: HDFC Bank, is partnering with Microsoft to unlock business value by transforming the application portfolio, modernising the data landscape, and securing the enterprise with Microsoft Cloud.
The collaboration will assist HDFC Bank in leveraging the Microsoft Azure stack to consolidate and modernise its enterprise data landscape, improve employee productivity and customer experience through the use of Microsoft Power Platform, and embed Microsoft Security solutions to enable secure hybrid work for employees.
In a press release, the bank stated that it "will leverage Microsoft Azure to consolidate and modernise its enterprise data landscape through a Federated Data Lake to scale 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. We are doing so by investing in proprietary IP as well as through collaborations like these," said Ramesh Lakshminarayanan, Group Head - Information Technology and Chief Information Officer at HDFC Bank.
"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," said Sashi Sreedharan, Managing Director of Microsoft India. By leveraging Microsoft Cloud Platform and technologies, these products and services will adhere to strict security and compliance standards for customers. The collaboration will also accelerate the bank's digital workplace transformation with Microsoft 365, significantly improving customer and employee experience."
Notably, as part of its future-ready strategy, HDFC Bank is developing in-house IPs as well as collaborating with a number of companies, including fintechs, to co-create technology IPs.