HDFC Bank on Tuesday said it is partnering with Microsoft in the next phase of its digital transformation. 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.
HDFC Bank 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.
“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.