HDFC ties up with Accenture for digital transformation

NBFC giant, HDFC has announced the collaboration with global information technology services and consulting firm, Accenture to digitally transform its lending business. The tie-up will revamp HDFC’s customer experience and business processes to provide greater operational agility and efficiency, and drive business growth.

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About the collaboration:

• The collaboration is aimed at making HDFC’s lending lifecycle paperless and nimble. HDFC highlighted that a key element of the program is a cloud-native lending platform with digital workflows for every step of the customer journey including application, loan processing, credit underwriting and decisions, disbursement, and loan servicing.
• It leverages a machine learning-based decision engine aimed at improving risk mitigation and driving agility by standardizing the credit underwriting process.
• Further, the platform includes a user-friendly mobile application and a web-based portal for customers. Developed using human-centric design principles, the intuitive mobile application and web portal will enable digital-native experiences and significantly reduce the time taken for customer onboarding.
• Also, the platform will offer customers real-time visibility into their home loan application status and other related service requests anytime, anywhere.

Important takeaways for all competitive exams: 

• HDFC Bank Ltd MD & CEO: Sashidhar Jagdishan;
• HDFC Bank Ltd Establishment: 1994;
• HDFC Bank Ltd Headquarters: Mumbai, Maharashtra;
• HDFC Bank Ltd Tagline: We Understand Your World.

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