PANAJI: HDFC Bank, India’s second largest private sector bank, today announced that it is setting up a ‘Digital factory and an Enterprise factory’ to roll out new digital products and services in the future and augment its IT Infrastructure.
The dual approach of building the Digital Factory along with an Enterprise Factory is part of the bank’s technology transformation agenda to run and transform the bank, says a press communique. The bank proposes to strengthen capabilities for the Digital and the Enterprise Factories by hiring up to 500 people over the next two years, from diverse backgrounds such as data analytics, AI, ML, Design Thinking, Cloud and DevOps.
The Digital Factory will build new business and new solutions riding on new tech stacks/applications and high resiliency and monitoring capabilities. This will be backed by the ability to support large volume growth and plan for upgrading technologies. The bank is also developing future-ready IP technologies and moving to a native cloud architecture in collaboration with niche technology companies, fintech and large IT companies. Ensuring reliability, availability, scalability and security will be at the core of the Digital Factory’s endeavours.
The Enterprise Factory will upgrade legacy infrastructure, decouple existing systems and build its own capabilities by embracing open-source to build resilience and scale.
Parag Rao, Group Head – Payments, Consumer Finance, Digital banking & IT, HDFC Bank, said: “The Digital and Enterprise Factories will help us realise the strategy of ‘running ’ the bank, while ‘building’ the bank for the future. We are poised to capitalise on opportunities that higher digital adoption will bring in India. Our endeavour is to provide seamless experience to our customers across all platforms, on the back of resilient infrastructure. Since inception, we have led the digital transformation of the Indian financial services sector and continue to invest in technologies to improve customer experience and enhance efficiencies. This is changing the paradigm by redefining financial services and designing products and services by always keeping the customer at the centre.’’