AWS Joins Hand With HDFC Securities To Offer Cloud Service
Amazon Web Services (AWS), a company under Amazon.com, announced on Monday a collaboration with HDFC Securities to provide cloud services on the mobile trading app, HDFC Sky.
HDFC Sky, serving 75 million customers, including all HDFC Group companies, investors, and traders, facilitates trading in shares, commodities, futures, currencies, IPOs, mutual funds, and ETFs. Operating on a flat pricing model, HDFC Sky ensures transparency and accessibility for investors, charging a consistent fee, irrespective of investment amount or transaction volume.
By choosing AWS India as its cloud provider, HDFC Securities aims to deliver a secure, stable, and low-latency trading service for the expanding base of retail investors who prefer mobile trading. This move is expected to cut HDFC Securities' annual IT infrastructure and management costs by up to 50 per cent compared to on-premises infrastructure.
Sandeep Bhardwaj, Chief Operating and Digital Officer at HDFC Securities, highlighted AWS's role in fostering a culture of innovation within the organization, enabling rapid experimentation at a lower cost.
Looking ahead, HDFC Securities plans to leverage machine learning (ML) on AWS to enhance customer service by providing more personalised and tailored experiences. Vaishali Kasture, Director and Country Leader, Commercial Sales, AWS India and South Asia, noted the rapid adoption of cloud technology and AI in the financial services industry in South Asia to meet the growing demands of sophisticated retail investors.
