Long term strategic agreement with HDFC Bank, IndiaThe largest private sector bank will support digital transformation and innovation programs across businesses in India, said a release on Wednesday.
Under the multi-year agreement, broader access to Refinitiv’s data and products will enable HDFC Bank to realize new customer opportunities and fast-track its innovation agenda while reducing overall costs, the release said.
It will spur innovation and lead to cost savings across multiple bank divisions such as wealth management, capital markets and global markets, risk, compliance and customer onboarding.
“Our agreement with Refinitiv is an exciting step forward to support our digitization and innovation journey in India. Refinitiv has been at the forefront of data and analytics and has one of the largest repositories of financial markets data. With this collaboration We will gain wider access to Refinitiv’s content and capabilities across our business which will enable us to achieve further efficiencies and growth,” said Ashish Parthasarathy, Treasurer, HDFC Bank.
Ranjit Pawar, managing director of data and analytics at LSEG South Asia, said the partnership will help the bank unlock substantial value and growth opportunities in India. It will provide access to a comprehensive content set, workflow solutions and capabilities, and a range of delivery mechanisms from desktop to API.