HDFC Bank is partnering with Microsoft to leverage the Microsoft Azure stack to consolidate and modernize its enterprise data landscape, improve employee productivity and customer experience using Microsoft Power Platform, and integrate Microsoft Security solutions to enable secure hybrid work for employees.
On January 3, HDFC Bank announced its partnership with Microsoft to continue its digital transformation efforts. This partnership aims to improve the bank’s business operations by updating its application portfolio, modernizing its data systems, and enhancing security through the use of Microsoft Cloud.
Through this partnership with Microsoft, HDFC Bank will be able to use the Azure stack to update and streamline their enterprise data infrastructure, boost employee efficiency with Power Platform, and ensure secure remote work for their employees through the use of Microsoft Security solutions. This will ultimately improve the customer experience at HDFC Bank.
In more detail, HDFC Bank plans to utilize Microsoft Azure to centralize and modernize their enterprise data infrastructure through the creation of a Federated Data Lake. This will allow the bank to expand its information management capabilities for enterprise reporting and use artificial intelligence for advanced analytics.
The solution, which is based on Microsoft Azure, will allow HDFC Bank to make its data available and profitable for multiple business units across various systems, reports, and processes. Its unified architecture, collaborative engineering environment, top-level security, and collection of AI/ML-based deep learning tools give it the power to do so.
HDFC Bank will use the low code, no code capabilities of Microsoft Power Platform to establish an app innovation and automation factory. This factory will assist the bank in updating, modernizing, and transforming its collection of apps.
HDFC Bank will take advantage of Microsoft 365 to transition to a modern, integrated, and secure digital workplace that focuses on three key areas of transformation: employee collaboration, app modernization, and secure remote work. The bank has also integrated Microsoft Security solutions to ensure secure hybrid work for its employees.
According to Ramesh Lakshminarayanan, Group Head of Information Technology and Chief Information Officer at HDFC Bank, this partnership with Microsoft is part of the bank’s efforts to transform its technology and create a cutting-edge banking experience for customers. HDFC Bank aims to achieve this through both internal development and partnerships like this one. He stated, “We are investing in proprietary IP as well through tie-ups like these.
Sashi Sreedharan, Managing Director of Microsoft India, expressed excitement about being a part of HDFC Bank’s digital transformation journey and working with them to create top-quality products and services. He noted that these offerings will meet strict security and compliance standards for customers through the use of Microsoft Cloud Platform and technologies. The partnership will also aid in the bank’s digital workplace transformation with Microsoft 365 and significantly improve the experience of both customers and employees,” said Sreedharan.
It is worth noting that as part of its strategy for long-term success, HDFC Bank is both developing its own IPs and partnering with various companies, including fintechs, to jointly create technology IPs.
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