HDFC Bank signs long-term data and tech agreement with Refinitiv

K.R. Srivats | Updated on: Sep 21, 2022
REUTERS/File photo

REUTERS/File photo

The comprehensive access to Refinitiv’s data and products will enable the bank to realise new customer opportunities

Refinitiv, an LSEG Business and leading provider of financial markets data and infrastructure, has entered into a long-term strategic agreement with HDFC Bank to support the latter’s digital transformation and innovation programmes across the whole business in India.

Under the multi-year agreement, comprehensive access to Refinitiv’s data and products will enable HDFC Bank to realise new customer opportunities and fast-track its innovation agenda while reducing total cost. 

This will enable innovation and cost savings across multiple bank divisions including wealth management, capital markets & global markets, risk, compliance, and customer onboarding.

Ashish Parthasarthy, Treasurer, HDFC Bank, said,  “Our agreement with Refinitiv is an exciting step to support our digitalisation and innovation journey in India. Refinitiv has been at the forefront of data and analytics and is one of the largest reservoirs of financial markets data. With this collaboration, we will get comprehensive access to Refinitiv’s content and capabilities across our whole business which will enable us to achieve further efficiency and growth.”

Improving work efficiency

HDFC Bank will be able to empower its people and processes with Refinitiv’s enterprise data solutions to work smarter, faster, and under reduced operational risk with automated and reliable data across all business lines. 

Additionally, HDFC Bank will also enable its users with Refinitiv Workspace, Refinitiv’s highly customisable workflow solution for financial professionals that provides access to real-time market data, news, fundamentals data, analytics, trading, and collaboration tools.

Ranjit Pawar, Managing Director, Data & Analytics at LSEG South Asia said,  “We are proud to be working with HDFC bank to help them unlock substantial value and growth opportunities in India by providing access to comprehensive content sets, workflow solutions and capabilities and a range of delivery mechanisms from desktop to APIs.”

Published on September 21, 2022
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