HDFC Bank to pump up tech; expects to handle load for another three to five years

Troubled by five technical glitches since November 2018, leading private sector lender HDFC Bank plans to transform its technology.

The bank’s MD & CEO Sashi Jagdishan on Monday told employees that the bank is in the process of accelerating its cloud strategy and enhancing firewalls, going on to say that the technology could handle the load for the next three to five years.

He went on to address each of the five outages mentioning the reasons for them. He stated that though the new mobile application for the bank had crashed in November 2018 and customers were not able to download, the bank went on to update the application seven times since then without any glitch.