Intellectual Capital
HDFC Bank has always been at the forefront of innovation in the Indian financial services industry. Under our technology transformation agenda, we are investing to ‘Run the Bank’ as well as ‘Build a Future-ready Bank’. We are also strengthening our digital backbone to create differentiated, secure offerings for the tech-savvy customer backed by a core technology that is always ‘ON’.
Underpinning our technology transformation agenda is our vision to provide the most preferred ‘neobanking’ experience to our customers. We design products that make banking simple, easy and highly secure. At the core of this agenda is building future-ready competencies. We are strengthening our capabilities under Digital Factory, Enterprise Factory and Enterprise IT.
Building Digital Factory and Enterprise Factory
Our Factory approach focuses on innovation-at-scale in the co-creation of Tech Intellectual Property (IP) to develop and offer best-in-class products and services to our customers. Agile and Development- Security-Operations (DevSecOps) principles and cloudification of our tech stack are pivotal accelerators of our transformation agenda.
Initiatives such as DR Resiliency and our Hybrid Cloud Strategy continue to fortify our IT infrastructure and architecture backbone.
Key initiatives undertaken
Infrastructure scalability
We have invested in a hybrid-cloud approach with leading cloud service partners such as AWS, Azure and GCP. A common landing zone has been implemented across these partners to create a secure and streamlined environment for all cloud deployments. We have moved our primary data centers to state-of-the-art facilities in Mumbai and Bengaluru to ensure a robust IT infrastructure to back our digital offerings and ensure higher uptimes across customer touchpoints.
Capacity upgrades
Capacity management practices have been significantly strengthened to ensure close monitoring of peak volumes across key performance parameters. We have established a Technology Obsolescence Program Management Office to track, manage and replace/upgrade obsolete components in a timely manner.
Disaster recovery resilience
We are moving to the next level of Disaster Recovery (DR) with automation and implementation of ‘Hot DR’/Active – active setup for key applications.
Minimised surface area for cyber-attacks
We have made significant advancements to further consolidate cyber security through initiatives such as the foundation of a next-gen Security Operations Center (SOC) for predictive security and incident management, introduction of SOAR (Security Orchestration, Automation & Response) to reduce incident response times, network micro-segmentation for better control, visibility and preparedness against ransomware, and round-the-clock defacement monitoring and vulnerability management of our internet properties.
We are now fully geared to launch our next phase of strategic digital & technology programs. Significant inroads are being made through initiatives such as Customer Experience Hub, a revamped Payments and Wallet experience and refreshed offerings for MSME and Wealth Management customers.
Key initiatives in the pipeline
Vyapaar
Digital onboarding of merchants for payment acceptance and servicing of banking transactions for the merchant community
Xpress Car Loans
A digital API platform for Auto Financing launched in April 2022
PayZapp 2.0
Enhanced experience of App. Customers to onboard, autolink HDFC Bank cards, wallet & limit management, transaction display via rich statements
SME customer experience transformation
New technology to support business volume at larger scale, re-vamp the entire SME customer experience across Commercial and Retail business lines
Biz Express
A new web portal for SME segments covering digital onboarding, managing multiple accounts, making payments with hierarchy, raising GST compliant invoices for payment, multiple collection modes, raise service requests online, etc.
Wealth App
A new Wealth Management app with client self-profiling, goal setting, mutual fund order execution and portfolio re-balancing