HDFC Bank, Microsoft partner for digital transformation journey

4 Jan 2023 , 09:25 AM

HDFC Bank announced that it will collaborate with Microsoft in the next phase of its digital transformation. 

The private sector lender is developing the in-house intellectual property as well as collaborating with several companies, including finTechs, to co-create technology IPs, according to a statement.

HDFC Bank will use artificial intelligence to scale its information management capabilities across enterprise reporting and advanced analytics by consolidating and modernising its enterprise data landscape via a Federated Data Lake on Microsoft Azure.

“Our collaboration with Microsoft is part of our technology transformation agenda, which includes investments in both running the bank and building the bank of the future,” stated HDFC Bank Group Head – Information Technology and Chief Information Officer, Ramesh Lakshminarayanan.

At around 9.20 AM, HDFC Bank was trading at Rs1,641.40 per piece, up by 0.13% against the previous close of Rs1,639.25 on NSE. The counter opened at Rs1,635 and touched an intraday high and low of Rs1,642.20 and Rs1,634.60 respectively.

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