Through a partnership that is now celebrating 25 years, Oracle has helped HDFC Bank take several necessary steps forward by contributing to cutting-edge technology and infrastructure that has taken the Indian banking ecosystem to the next level, with an eye on digital India and positive social change.
We take a deep dive into the enduring partnership between HDFC Bank and Oracle and explore the journey they have embarked on so far.
HDFC Bank leaders recollect the achievements and experiences of the partnership
The story of India’s growing digital banking ecosystem
The partnership between HDFC Bank and Oracle paved the way for a rewarding and, in many ways, a pathbreaking digital journey.
“We wanted to go above and beyond to provide our customers with a unique experience, a unique product."
Bhavesh Zaveri
Group Head- Operations and Technology
“From the very beginning, Oracle Financial System Software (OFSS) had been our technology partner of choice.."
Munish Mittal
Group Head-IT & CIO
"Oracle has been the gold standard in terms of the software as well as the database support .."
Rahul Shukla
Group Head- Corporate and Business Banking
"Oracle's dealings with us are as old as we are"
Ashima Bhat
Group Head (Business Finance and Strategy, Administration and Infrastructure)
We take a deep dive into the enduring partnership between HDFC Bank and Oracle and explore the journey they have embarked on so far.
Sr EVP IT
“I believe that our autonomous journey with Oracle will define the future of banking. While most banks are still exploring DevOps, we have already ventured into NoOps. I believe this will be key to scaling operations, especially in a country with 1.4 billion people and over 900 million mobile users. The government’s decision to do away with two-factor authentication for small ticket value transactions reduces the transaction time by almost 10-20%. This is going to be a major change and Oracle’s journey towards autonomous and cloud is going to help us in a big way in enhancing customer experience.”
Sr EVP IT
“One of the biggest opportunities for us, with Oracle, in the near future, is to engage and ensure that our core banking software platform, FLEXCUBE, is taken to the next level– that is, scaling it from the monolith it is right now. I also envision technology to support and scale the investments we have made across software, hardware, or platforms so that we can operate in a very efficient manner”.
EVP IT
“I think the relationship between HDFC Bank and Oracle transcends beyond just technology. Oracle has supported us throughout our journey, and I can trust them going forward as well. There are many things that both Oracle and the Bank have co-created and the microservices architecture on the Oracle private cloud, that we enabled for OBP, was a particularly excellent joint effort.”
EVP IT
“HDFC Bank started off as a born-digital bank with the Oracle Microbanker as our core banking platform. In time, we have grown with the amalgamation of Times Bank and Centurion Bank. Here again, the Oracle team helped us attain the stability needed to seamlessly integrate and migrate from different systems and scale upwards. Powered by the current Oracle stack, we open about 20,000 accounts a day and process more than 1 crore UPI transactions. The continuous engagement between the Bank and Oracle for over 25 years has evolved this relationship from a vendor to a partner relationship. I would credit this to the constant support from all Oracle teams across the board.”
SVP IT
“We have had milestone achievements with Oracle as our technology partner. Among the notable ones is what we achieved in the security area– something very pertinent for our business. A lot of the landmark projects and milestones in HDFC Bank’s journey in core banking and innovation were achieved through our partnership with Oracle.”
SVP IT
“The volatile nature of today’s markets today places an unpredictable workload on our Oracle Banking Platform middleware. We needed to ensure that the platform can scale to provide the customer with uninterrupted services despite staggering volumes. Partnering with Oracle, we completely re-engineered the OBP as a containerized platform on the Oracle Cloud at Customer. This allowed us to achieve seamless scalability on demand. I am proud to say that, today, this allows us to support 40 million transactions on the platform successfully.”
The partnership between HDFC Bank and Oracle paved the way for a rewarding and, in many ways, a pathbreaking digital journey. For each success story, there was an equally valuable learning experience.
But every story journey has one element in common– when obstacles and challenges loomed large, it was creativity and innovation that came to the rescue.
HDFC Bank and Oracle’s long-standing partnership has spurred a series of ground-breaking innovations that have propelled the Indian banking industry to new heights. The deep-rooted digital ideology that these organizations share underpins their long-term desire to innovate. Digitalization has allowed the partnership to offer customers cost efficiency and security at scale, while making every customer interaction an exceptional one.