The impetus behind the partnership’s first digital steps was the customer and their needs. Today, customer centricity informs both the strategy and execution of all the new-age initiatives that the organizations undertake. One such initiative is the shift towards cloud technology.
Together, HDFC Bank and Oracle have already embarked on a journey to create a cloud-ready banking infrastructure. The ultimate aim of this initiative is to create a ‘Market of One’ which allows customers to achieve their personal financial goals through hyper-personalised products, services, and experiences. The partnership intends to achieve the required flexibility by segmenting HDFC Bank’s core banking platform, Oracle FLEXCUBE, into smaller, more adaptable components, or microservices.
This initiative is in line with a collective objective to push for more inclusion in semi-urban and rural (SURU) areas. As the power of the internet illuminates the former ‘digitally dark’ regions of India, the partnership believes that there will be opportunities for widespread financial inclusion going forward. In such a scenario, a flexible core banking platform will allow HDFC Bank to extend uninterrupted banking services to the customers, irrespective of their geographical location, and even during times of heavy surge.
The following are some of the milestones that the partnership aspires to achieve:

• Grow customer base from 5.6 crore customers to over 10 crore customers over the next 4 years
• Ramp up daily UPI transactions from 1.5 crore today to more than 5 crore per day in the next 2 years
• Boost customer transactions from 7.5 crore every day to over 20 crore transactions in the next 3 years

Of course, the digital future envisioned by HDFC Bank and Oracle will be unthinkable without the intervention of next-gen technologies like artificial intelligence (AI). The partnership is focused on harnessing the power of AI and machine learning to fortify applications process management (APM) and drive seamless interoperability across the entire technology stack. This means that, going forward, customers will experience faster and more convenient banking experiences delivered through intuitive, seamless, contextual, and predictive interactions.
The partnership’s digital goals are lofty, but so is its ambition to design exceptional customer experiences. With the rock-solid digital foundation that HDFC Bank and Oracle have built together over the last quarter century, the partnership is poised to disrupt the banking sector in the next quarter as well.