Priavte lender HDFC Bank has set up a Digital Factory and an Enterprise Factory to launch new digital products and services in the future and augment its IT Infrastructure. The Digital and Enterprise factories will be pivoted on APIs, data and cloud.
The dual approach of setting up the Digital Factory along with an Enterprise Factory is part of the bank’s agenda on technology transformation meant for running as well as transforming the bank. The bank proposes to strengthen capabilities for the Digital and 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 be building new business and new solutions riding on new tech stacks/applications and high resiliency and monitoring capabilities. This will be supported by the ability to handle large volume growth and plan for upgrading technologies. Further, the bank is 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.
“The Digital and Enterprise Factories will help us realise the strategy of ‘running’ the bank, while ‘building’ the bank for the future,” Parag Rao, Group Head – Payments, Consumer Finance, Digital Banking & IT, HDFC Bank.
“We are poised to capitalize 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.’’