The Session on, "From Brick and Mortar to Digital Dominance: The Transformation of India's Banking Giants", conducted at Bharat Fintech Summit 2024, explored the digital transformation journey of India's leading banks. Ramesh Lakshminarayanan, CIO Group Head IT at HDFC Bank, presented the bank's perspective on navigating this digital revolution. Key takeaways In today's digital landscape, prioritizing a data-driven approach within a microservices-based core is crucial for organizations across industries. Open banking initiatives and the establishment of an API Factory streamline service delivery, fostering interoperability and efficiency. Cloud adoption is essential for agility and scalability, while robust security practices are imperative for safeguarding sensitive data. Together, these elements form the foundation of a modern digital strategy, enabling businesses to adapt and thrive in a rapidly evolving environment. Summary The session emphasized the critical role of digital technologies in transforming banking operations and customer experiences. HDFC Bank presented its ongoing efforts to leverage advancements in artificial intelligence (AI), cloud computing, and open banking to achieve digital dominance. Watch the insightful session here: https://lnkd.in/dANmrfkA #DigitalTransformation #Banking #Fintech #OpenBanking #CloudComputing #AI #HDFCBank #BharatFintechSummit2024
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