Troubled by outages, HDFC Bank to use cutting-edge tech across businesses

After dealing with 5 situations of downtimes throughout the previous 28 months, the nation’s largest non-public sector lender HDFC Financial institution, which was pulled up by the banking regulator for a number of outages, has determined to implement cutting-edge know-how throughout all traces of companies.

In a letter to workers, Sashi Jagdishan, MD & CEO of the financial institution mentioned, “…we have now launched into a scale-changing know-how adoption and transformation agenda to assist drive our bold future development plans”. He additional went on to say that, within the present monetary yr, there shall be some pandemic-related challenges for positive. However, the broad macro alternatives proceed to current themselves throughout the retail, MSME and Company Banking for the financial institution throughout geographies’ like semi-urban and rural markets. Aside from this, Jagdishan assured the workers that this yr too the financial institution will comply with its regular apply in as far as the compensation cycle is anxious.

The financial institution has determined to embark on a “Expertise Transformation agenda” to offer its clients smoother, sooner, and higher banking expertise.

Within the letter, Jagdishan listed out the initiatives the financial institution is taking underneath the “Expertise Transformation Agenda” similar to infrastructure scalability, the place the financial institution has closely invested within the scale-up of their infrastructure to deal with any potential load that they’ll encounter for the subsequent Three-5 years.

Secondly, the financial institution has strengthened its means of monitoring its Information Centre (DC) and has shifted key purposes to the brand new DC. Additionally, the financial institution has enhanced its monitoring capabilities to handle the DC operations and Resiliency processes. The financial institution has additionally strengthened its firewalls additional.

“We have now to be scanning the horizon for potential safety points and be ever ready to face them. We haven’t had any safety points previously. However that is all the time an essential space of focus and motion plans are underway for additional robustness”, Jagdishan mentioned.

Amongst different issues, the financial institution has put in place an enhanced utility monitoring mechanism throughout the board to allow them to maintain their IT methods “All the time On”.

Up to now few years, HDFC Financial institution clients have confronted a number of outages in relation to their digital banking providers. The primary incident occurred in November 2018, when the brand new cell banking app crashed as a result of unprecedented demand to obtain the brand new cell app. Since then, Jagdishan mentioned, we have now upgraded our cell app seven occasions over the past two years and in all these situations it has been a clean affair with no downtime or buyer inconvenience in anyway.

In December 2019, HDFC Financial institution clients confronted an outage with the cell financial institution app as a result of one of many vendor’s methods improve patch concern was defective. It has been addressed by the financial institution adequately.

Final yr November, the financial institution confronted an outage at their information middle and it was led by a 3rd social gathering human error. Lastly, in March this yr, clients confronted an outage in cell and internet banking providers due to a defective signature on the banks’ HIPS (Host Intrusion prevention software program). Following this incident, once more on March 31, 2021, banks’ clients confronted one other outage in cell and internet banking providers on account of a element failure in one of many banks’ database servers leading to a gradual response to a few of our clients.

Irked by the repeated outages, the Reserve Financial institution of India, in December final yr, had directed the financial institution to briefly halt all its digital launches in addition to new sourcing of bank card clients.

Aside from this, Jagdishan assured the workers that this yr too the financial institution will comply with its regular apply in as far as the compensation cycle is anxious.

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