Refinitiv, an LSEG Business and one of the world’s largest providers of financial markets data and infrastructure, announced a long-term strategic agreement with HDFC Bank, India’s largest private sector bank, to support digital transformation and innovation programs 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 costs. 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.