During the mid-2010s, HDFC Bank’s growing customer base made it necessary to enhance their customer-facing operations. The Bank partnered with Oracle to deploy a highly effective Service-oriented Architecture (SOA) to manage the surge in online banking transactions. This new framework enableddifferent systems to seamlessly connect with each other.

The multi-channel/multi-system, real-time integration of the CRM platform enables more efficient customer interaction. The SOA framework also provides a high degree of security through the use of next-gen security and authentication features like encrypted IPIN and 128-bit SSL encryption.

The SOA standardized the entire technological core of the Bank. It made current processes more efficient. The technology provided a host of benefits to the Bank’s customers including:

• Instant bill settlement and increase of the credit limit on credit cards
• Approvals within 10 seconds for new credit cards/personal loans
• Real-time access of CIBIL scores and verification for KYC through a one-time password (OTP)
• Simplified new account opening with eKYC and Aadhar-based authentication integration
• Instant debit card unblocking and PIN generation
• Shorter turnaround time for basic queries and requests through enhanced IVR capabilities
• Real-time vendor and agency settlements for corporate clients and easy onboarding of new customers
• Real-time lien marking for brokers and traders