Money & Banking

HDFC Bank working on Technology Transformation Agenda

Our Bureau. New Delhi | Updated on April 19, 2021

The bank has faced 5 outages in the last 28 months

Private sector lender HDFC Bank, which has faced five outages in its net and mobile banking services over the last 28 months, is working on a “Technology Transformation Agenda” for its customers.

These include initiatives towards infrastructure scalability, disaster recovery, security enhancements and monitoring enhancements, HDFC Bank Managing Director and CEO, Sashidhar Jagdishan, said in a recent letter to the bank’s employees.

“We have always raised the bar when it comes to delivering customer experience. It is in this context, one has to see the advisories and strictures by the regulators calling for accelerated adoption and process changes. We are working with them closely to overcome the current situation,” Jagdishan said.

Driving cloud strategy

The bank has invested heavily in the scale-up of its infrastructure to handle any potential load that it will encounter for the next three to five years, he said, adding that it is also in the process of accelerating the cloud strategy.

Similarly, for disaster recovery, it has strengthened the process of monitoring its Data Centre (DC) and has shifted key applications to the new DC and has put in place enhanced monitoring capabilities to manage the operations and resiliency processes.

“We have strengthened our firewalls further,” Jagdishan said on security enhancements, adding that while there have not been any security issues in the past, it is always an important area of focus and action plans are under way for further robustness.

HDFC Bank has also put in place an enhanced application monitoring mechanism across the board to ensure IT systems are always on.

Tapping opportunities

Meanwhile, Jagdishan also said that broad macro opportunities continue to present themselves across the retail, MSME and corporate banking segments and across geographies like semi-urban and rural markets.

“We will continue to invest our resources to grow in the identified segments and sectors and geographies,” he said.

HDFC Bank will also continue its normal practice in terms of the compensation cycle for employees.

 

 

Published on April 19, 2021

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