HDFC Bank renews deal Backbase to improve digital banking

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.

Backbase has helped 150+ banks and credit unions around the globe re-architect banking around their customers.

“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 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.

Backbase provides 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). Backbase provides local support via its data centers within Mumbai and Hyderabad.