Read The Times Australia

Daily Bulletin

HDFC Bank continues investing in platform technologies to improve customer experience and enhance efficiencies

Backbase remains the preferred next-gen digital banking platform vendor for HDFC Bank

MUMBAI, INDIA - Media OutReach - 16 March 2023 - HDFC Bank Ltd has appointed Backbase to deliver their vision for a market-leading digital banking experience in India.

Backbase powers HDFC Bank’s next-gen retail banking, enabling a more seamless customer experience across digital touchpoints in response to changing consumer expectations and new regulatory requirements.

HDFC Bank is India’s largest private sector bank, providing innovative products and smart banking solutions to over 70 million customers across India. A Backbase customer since 2016, HDFC Bank has renewed its agreement in line with its technical design principles of security, horizontal scalability, and remaining cloud agnostic.

Built as one unified platform to engage and orchestrate frictionless experiences across all touchpoints at every stage of the customer lifecycle across retail banking, business banking, digital lending, and wealth management, Backbase has helped 150+ banks and credit unions around the globe re-architect banking around their customers.

“Indian consumers expect digital banking to match the seamless experience of their favourite e-commerce and social media platforms. In addition to savvy UI, from savings to loans to payments and beyond, customers want to effortlessly complete transactions, easily and quickly, anytime and anywhere. Backbase’s banking platform has been assessed to be what we need and; we are confident that it will help us develop new services faster,” Ramesh Lakshminarayanan, CIO and Group IT Head, HDFC Bank said.

HDFC Bank’s next-gen customer-first internet banking architecture will be run and managed on the Backbase Engagement Banking Platform. The digital banking platform meets Indian money transfer regulations, via seamless integrations with Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), Immediate Payment Service (IMPS), and UPI Payments, and encompasses enhanced, configurable local security features on par with local industry standards.

HDFC Bank continues to invest in technologies to improve customer experience and enhance efficiencies by providing a seamless experience to their customers across all platforms, on the back of a resilient infrastructure, building on the HDFC Bank Enterprise and Digital Factory established in June 2021.

“I’m delighted to continue partnering with HDFC Bank to bring platform-era banking to its millions of customers,” Jouk Pleiter, CEO, Backbase said. “We’ve worked tirelessly to earn the trust of HDFC Bank, and we’re excited to deliver a next-generation banking experience in one of the most important and innovative banking markets in the world.”

Localized delivery
Backbase provides seamless local engineering, implementation and customer support, for banks in India, including HDFC Bank, through its Asia Customer Success hub and Hyderabad Backbase Development Center (BDC), freeing financial institutions to focus on delivering hyper-personalized experiences and support as well as generating new revenue streams. In addition, for banks with hybrid or pure cloud implementation, Backbase provides local support via our data centers within Mumbai and Hyderabad.

“Our strong local technology and engineering resources allow us to do it right the first time, and to do more with less,” Abhijit Chavan, Regional Vice President, Customer Success, Asia, Backbase explained. “Our engineering investment in India and customer success hub provides instant digital execution power to Indian financial institutions as they move to a unified banking platform architecture.”

Hashtag: #Backbase #digitalbanking #engagementbanking #apac #HDFC


The issuer is solely responsible for the content of this announcement.

About Backbase

is on a mission to re-architect banking around the customer.

Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding, to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.

Industry analysts Forrester, Gartner, Omdia, and IDC continuously recognize Backbase’s category leadership position. Over 150 financials around the world have embraced the Backbase Engagement Banking Platform. In APAC, the customers we serve include ABBANK, BDO Unibank, Bank of the Philippine Islands, EastWest Bank, HDFC, IDFC First, JudoBank, Techcombank, TPBank, and UBank.

Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.


Business News

The Rise of Digital Marketplaces in the Australian Trade Sector

For decades, the Australian trade and construction sector operated almost entirely on word-of-mouth recommendations and local community networks. Small business owners typically relied on local newspa...

Daily Bulletin - avatar Daily Bulletin

How Immigration Lawyers Can Help

Introduction Visa decisions can shape employment, family life, study plans, travel, and future residence. A small omission can lead to delay, added expense, or refusal. Immigration lawyers assess l...

Daily Bulletin - avatar Daily Bulletin

How Industrial Drying Equipment Supports Efficient Processing

Many industrial processes require moisture to be removed from compressed air, products or process materials before they move to the next stage. Excess moisture can affect equipment performance, produc...

Daily Bulletin - avatar Daily Bulletin

Practical Ways a Whiteboard Can Improve Workplace Communication

Effective communication helps teams stay organised, share ideas and keep track of important information. While digital tools are now common in many workplaces, a whiteboard continues to provide a simp...

Daily Bulletin - avatar Daily Bulletin

Designing Eco-Friendly Custom Water Bottles for Your Next Event

The Evolution of Sustainable Event Merchandise Event planning has undergone a massive transformation over the last decade. Gone are the days when organizers could hand out cheap, single use plastic...

Daily Bulletin - avatar Daily Bulletin

Why Choosing a Professional Florist Melbourne Makes Flower Delivery Impactful

Flowers have a great power to speak when humans cannot express their feelings with right words. Flowers are the best gifts when you are celebrating a birthday or welcoming a newborn child into your fa...

Daily Bulletin - avatar Daily Bulletin

The Business Case for Choosing Australian Fabricators Over Imported Alternatives

For a long time, you might have defaulted to overseas suppliers when sourcing fabricated metal components for a project. The unit price was lower on paper, and the maths seemed straightforward. That...

Daily Bulletin - avatar Daily Bulletin

Australian organisations are relying on business continuity plans built for a far more predictable world

Tariff escalations, supply chain fragility, geopolitical events, and the ongoing threat of cyber disruption have reshaped the risk environment facing Australian organisations. The problem is that ma...

Daily Bulletin - avatar Daily Bulletin

How to Rent a Car for Uber in Melbourne: What Every New Driver Needs to Know

Starting out as an Uber driver in Melbourne is not as complicated as it sounds but getting the vehicle right is where most new drivers get stuck. Uber has strict requirements around vehicle age, condi...

Daily Bulletin - avatar Daily Bulletin

The Daily Magazine

Microsoft Surface For Business (Microsoft 365 E3, E5, E7) And Modern Workplace Requirements

Understanding Business Device Requirements Microsoft surface for business (microsoft 365 E3, E5, ...

Choosing the Right Split System for Melbourne Homes

Why Split Systems Suit Melbourne Conditions Choosing a heating and cooling system starts with und...

What Happens to Remaining Sperm Stored in the Vas Deferens After the Procedure

Deciding to undergo a permanent contraceptive procedure is a significant life step for many men. Whe...

Top Tips on Combining TMS Therapy with Comprehensive Adult ADHD Care in Sydney

Managing attention-deficit hyperactivity disorder (ADHD) alongside co-occurring mental health condit...

What To Expect Before, During, And After Laser And CRP Hair Loss Treatments

Hair thinning affects millions of Australians, leading many to seek advanced, non-surgical solutions...

What To Ask During A Consultation For Men's Hair Loss Treatment And PRP

Walking into a clinic to address thinning hair can feel daunting, but preparation builds confidenc...

How to Ensure Safe and On-Time Building Material Delivery with Sydney Cargo Transportation Services

Managing a construction site requires precise coordination, where even a minor delay can stall an en...

What to Ask Your Cosmetic Surgeon About Liposuction and Thigh Lift Reduction in Perth

Establishing the Surgeon’s Credentials and Local Experience Your safety depends heavily on the cred...

Top Ergonomic Tips to Enhance Your Neck Pain Treatment and Prevent Back Pain In Sydney

Many office workers in New South Wales spend upwards of eight hours a day hunched over a keyboard, l...