HDFC Bank Mgmt believes bank will continue to be one of the dominant players in the
payment space (credit card spend
market share of 30%, payment gateway market share 40%) and this is core to its digital strategy.
The bank is also undertaking collaboration with Fintech companies (like Apple/ Google pay) and share its APIs to its product capabilities
and value proposition. The bank is leveraging cloud technology for instantaneous analysis of customer data and more targeted offering.
HDFC Bank is now extending its digital products and data-driven lending capabilities beyond internal customers. The bank has introduced a 10 min approval process for its
personal, credit card, car and 2 Wheeler loans. Already, 40% of applications are now received digitally and 85% of approvals are within 10 mins.
