HDFC Bank and Microsoft team up to drive digital transformation

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HDFC Bank announced on Tuesday that it will partner with Microsoft in its next phase of digital transformation. The private sector lender is developing in-house intellectual property (IP) and partnering with various companies, including fintechs, to co-create technology IPs. HDFC Bank will use Microsoft Azure to consolidate and modernize its enterprise data landscape through a Federated Data Lake, enhancing its information management capabilities across enterprise reporting and advanced analytics through the use of artificial intelligence.

“Our partnership with Microsoft is a part of our technology transformation agenda by investing in running the bank as well as building the bank of the future,” said Ramesh Lakshminarayanan, HDFC Bank Group Head of Information Technology and Chief Information Officer. “We are doing this by investing in proprietary IP as well through tie-ups like these.”