HDFC Bank announced that it is gearing up a Digital Factory and an Enterprise Factory to bring out new digital products and services in the future and add to its IT Infrastructure. The Digital and Enterprise factories will be dependent upon APIs, cloud and data.
The dual approach of constructing the Digital Factory along with an Enterprise Factory is part of the bank’s technology revolution agenda to run and transform the bank. The bank aims to empower capabilities for the Digital and the Enterprise Factories by bringing in up to 500 people over the next two years, from different backgrounds such as data analytics, Artificial Intelligence, Machine Learning, Cloud and DevOps, Design Thinking.
The Digital Factory will set up a new business and new solutions driving on new tech applications/ stacks and high resiliency and keeping track of capabilities. This will be supported by the ability to back high volume growth and plan for upgrading technologies.
The bank is also building future-ready Internet Protocol technologies and moving to a native cloud architecture in association with niche technology companies, fintech and large IT companies. Ensuring availability, scalability, reliability and security will be at the heart of the Digital Factory’s endeavours.
The Enterprise Factory will enhance legacy infrastructure, break up existing systems and build its capabilities by welcoming open-source to build scale and resilience.
The Group Head – Payments, Consumer Finance, Digital Banking & IT, HDFC Bank, Parag Rao, said, “The Digital and Enterprise Factories will aid us to realize the plans of ‘running’ the bank, while ‘building’ the bank for the future. We are aiming to capitalize on opportunities that higher digital adoption will bring to the country.
Rao added – “We endeavour to give a smooth experience to our customers across all platforms, on the support of advanced infrastructure. Since its establishment, we have paved the way for the digital transformation of the Indian financial services sector and carry on to invest in technologies to enhance customer experience and improve efficiencies. This is shifting the paradigm by restating financial services and designing products and services by constantly keeping the customer at the core,”