Strap: India’s largest private lender, HDFC Bank has created digital and enterprise factories to enhance digital banking experience to customers.
Copy: Country’s largest private sector bank, HDFC Bank will be creating digital and enterprise factories to enhance digital banking experience for its customers.
This will enable them to roll out new digital products and services in the future and augment its IT infrastructure and will be pivoted on APIs, data and cloud.
The dual approach is a part of the bank’s technology transformation agenda to run and transform the bank. It also proposes to strengthen capabilities for the Digital and the Enterprise factories by hiring up to 500 people over the next two years, from diverse backgrounds such as data analytics, AI, ML, Design Thinking, Cloud and DevOps.
The digital factory will build new business and new solutions riding on new tech stacks/applications an high resiliency and monitoring capabilities. It will be backed by the ability to support large volumes of growth and plan for upgrading technologies. The bank is also developing future-ready IP technologies and moving to a native cloud architecture in collaboration with niche technology companies, Fintechs, large IT companies which will ensure reliability, availability, scalability and security will be at the core of the Digital Factory’s endeavours.
The enterprise factory will upgrade legacy infrastructure, decouple existing systems and build its own capabilities by embracing open-source to build resilience and scale.
Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking & IT, HDFC Bank, said, “The Digital and Enterprise factories will help us realise the strategy of ‘running’ the bank, while ‘building’ the bank for the future. We are poised to capitalize on opportunities that higher digital adoption will bring in India. Our endeavour is to provide seamless experience to our customers across all platforms, on the back of resilient infrastructure. Since inception, we have led the digital transformation of the Indian financial services sector and continue to invest in technologies to improve customer experience and enhance efficiencies. This is changing the paradigm by redefining financial services and designing products and services by always keeping the customer at the centre.’’