HDFC Bank will leverage Microsoft’s Azure platform to consolidate and modernize its enterprise data landscape through a Federated Data Lake to scale its information management capabilities across enterprise reporting, and advanced analytics using artificial intelligence.
The private sector lender is developing in-house IPs as well as partnering with several companies, including FinTechs, to co-create technology IPs, the lender said in a statement.
"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," HDFC Bank Group Head - Information Technology and Chief Information Officer, Ramesh Lakshminarayanan 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," said Sashi Sreedharan, Managing Director Microsoft India.
Yes Bank on 3 January announced its partnership with Microsoft to bring forth a next generation mobile application with a view to provide customers with a personalised banking experience.
