Microsoft and HDFC Bank Partner Together as Part of Digital Transformation Journey

Published on January 04, 2023
Current Context: HDFC Bank has partnered with Microsoft to continue its digital transformation journey. As part of this partnership, HDFC Bank will transform its application portfolio, modernize its data landscape, and enhance security using Microsoft Cloud. This is expected to provide value to the bank's business operations.
Microsoft and HDFC Bank Partner Together as Part of Digital Transformation Journey
  • As part of its "Future Ready" strategy, HDFC Bank is working to develop in-house intellectual property and partnering with other companies, including fintech firms, to create technology intellectual property jointly.
  • HDFC Bank plans to use Microsoft Azure to consolidate and modernize its enterprise data landscape through the creation of a Federated Data Lake. This will allow the bank to improve its information management capabilities for enterprise reporting and advanced analytics using artificial intelligence.
  • In addition, the bank will use the low code and no code capabilities of Microsoft Power Platform to establish an App Innovation and Automation Factory, which will allow the bank to migrate, modernize, and transform its application portfolio.
  • Yes Bank and Microsoft
    • Yes Bank has partnered with Microsoft to create a next-generation mobile app that will provide a personalized banking experience for its customers.
    • Yes Bank will use Microsoft's Azure platform to develop a mobile app that will provide a range of services to customers in addition to traditional banking functions, such as online payments, shopping, rewards, offers, and customized dashboards.
    • The app will cater to the various financial needs of customers, including loans, payments, deposits, investments, and cards.
    • Localized Models
    • Sustainability
    • Cost Effective solutions
    • Multi-sectoral ideas and solutions etc.
  • Recent News:
    • Viasat partnered with Microsoft Inc, as a part of Microsoft’s Airband initiative to deliver satellite internet.

Question: 

Q.1 Microsoft partnered with which bank to transform the digital journey?
a. HDFC
b. SBI
c. Yes Bank
d. ICICI

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