Money & Banking

HDFC Bank creates Digital and Enterprise factories to roll-out new digital products

Our Bureau Mumbai | Updated on June 22, 2021

FILE PHOTO: The headquarters of India's HDFC bank is pictured in Mumbai   -  REUTERS

The dual approach is part of the bank’s technology transformation agenda

Private sector lender HDFC Bank on Tuesday announced that it is setting up a Digital Factory and an Enterprise Factory to roll-out new digital products and services in the future and augment its IT Infrastructure.

The Digital and Enterprise factories will be pivoted on APIs (Application Programming Interface), data and cloud.

Tech transform agenda

The dual approach of building the Digital Factory along with an Enterprise Factory is part of the bank’s technology transformation agenda to run and transform the bank, it said in an official release. The bank has faced multiple outages in its mobile and net banking services over the past couple of years.

The bank is planning to hire up to 500 people over the next two years from diverse backgrounds such as data analytics, AI, ML, Design Thinking, Cloud and DevOps in a bid to strengthen capabilities for the Digital and the Enterprise Factories.

The Digital Factory will build new business and new solutions leveraging new tech stacks/applications and high resiliency and monitoring capabilities. This will be backed by the ability to support large volume growth and plan for upgrading technologies.

It is also developing future-ready IP technologies and shifting to a native cloud architecture in collaboration with niche technology companies, fintech and large IT companies.

“Ensuring reliability, availability, scalability and security will be at the core of the Digital Factory’s endeavours,” it said.

The Enterprise Factory will upgrade its legacy infrastructure, decouple existing systems and build its own capabilities, leveraging open-source for resilience and scale.

“The Digital and Enterprise Factories will help us realise the strategy of ‘running’ the bank, while ‘building’ the bank for the future,” said Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking & IT, HDFC Bank.

“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. This is changing the paradigm by redefining financial services and designing products and services by always keeping the customer at the centre,” added Rao.

The bank has been working on a Technology Transformation Agenda for its customers.

Published on June 22, 2021

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