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- HDFC Bank signs long-term data and technology agreement with Refinitiv
September 21, 2022
HDFC Bank signs long-term data and technology agreement with Refinitiv
India: Refinitiv, an LSEG Business and one of the world's largest providers of financial markets data and infrastructure, today announced a long-term strategic agreement with HDFC Bank, India’s largest private sector bank, to support digital transformation and innovation programmes across the whole business in India.
Under the multi-year agreement, comprehensive access to Refinitiv’s data and products will enable HDFC Bank to realize new customer opportunities and fast-track its innovation agenda while reducing total cost. This will enable innovation as well as cost savings across multiple bank divisions including Wealth Management, Capital Markets & Global Markets, Risk, Compliance, and Customer Onboarding.
HDFC Bank will be able to empower its people and processes with Refinitiv’s enterprise data solutions to work smarter, faster, and under reduced operational risk with automated and reliable data across all business lines. Additionally, HDFC Bank will also enable its users with Refinitiv Workspace, Refinitiv’s highly customizable workflow solution for financial professionals that provides access to real-time market data, news, fundamentals data, analytics, trading, and collaboration tools.
“Our agreement with Refinitiv is an exciting step to support our digitalization and innovation journey in India. Refinitiv has been at the forefront of data and analytics and is one of the largest reservoirs of financial markets data. With this collaboration we will get comprehensive access to Refinitiv’s content and capabilities across our whole business which will enable us to achieve further efficiency and growth," said Ashish Parthasarthy, Treasurer, HDFC Bank.
“We are proud to be working with HDFC bank to help them unlock substantial value and growth opportunities in India by providing access to comprehensive content sets, workflow solutions and capabilities and a range of delivery mechanisms from desktop to APIs,” said Ranjit Pawar, Managing Director, Data & Analytics at LSEG South Asia.
About Refinitiv, an LSEG business
Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. With over 40,000 customers and 400,000 end-users in approximately 190 countries, Refinitiv is powering participants across the global financial marketplace. We provide information, insights, and technology that enable customers to execute critical investing, trading, and risk decisions with confidence. By combining a unique open platform with best-in-class data and expertise, we connect people to choice and opportunity – driving performance, innovation, and growth for our customers and partners.
About HDFC Bank
For more information. please log on to: www.hdfcbank.com
Refinitiv, London Stock Exchange Group
Corporate Communications, India