HDFC Bank sets up corporate digital factories; to pivot on APIs, data Cloud

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HDFC Bank today announced the establishment of a digital factory and a corporate factory to deploy new digital products and services in the future and increase its IT infrastructure. The Digital and Enterprise factories will be centered on APIs, data and the cloud.

The dual approach of building the Digital Factory with an Enterprise Factory is part of the bank’s technological transformation program to manage and transform the bank. The bank proposes to build the capacities of digital and corporate factories by hiring up to 500 people over the next two years, from various backgrounds such as data analytics, AI, ML, Design Thinking , the Cloud and DevOps.

The digital factory will build new businesses and solutions based on new technology stacks / applications and high resilience and monitoring capabilities. This will be supported by the ability to support significant volume growth and plan for technology upgrades. The bank is also developing future-oriented IP technologies and moving to a cloud-native architecture in collaboration with niche technology companies, fintechs and large IT companies. Ensuring reliability, availability, scalability and security will be at the heart of the Digital Factory’s efforts.

The Enterprise Factory will upgrade existing infrastructure, decouple existing systems, and develop its own capabilities by embracing open source to build resilience and scalability.

“Digital and corporate factories will help us achieve the strategy of ‘running’ the bank, while ‘building’ the bank for the future,” Mr. Parag Rao, Group Manager – Payments, Consumer Credit , digital and IT bank, HDFC Bank. “We are ready to capitalize on the opportunities that higher digital adoption will bring to India.

Our goal is to provide a seamless experience to our customers across all platforms, on the back of a resilient infrastructure. Since its inception, we have led the digital transformation of India’s financial services industry and continue to invest in technologies to improve customer experience and increase efficiency. It changes the paradigm by redefining financial services and designing products and services with always keeping the customer at the center. ”

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Posted on: Wednesday June 23, 2021 13:26 IST


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