HDFC Bank’s Digital Revolution – Re-Engineering Banking Processes
Business Process Re-engineering (BPR) is the radical re-design and re-organization of processes to achieve lower costs and increase service quality. The banking sector has seen competitive challenges due to the ever evolving Information Technologies and changes in customers’ perception of what defines a ‘good service’. Banks’ digital transformation centers on technological advancements, customized products, simplifying the processes to the maximum, offering as much convenience to the customers as possible and developing multiple delivery channels. HDFC Bank is the largest private sector banks in India by market capitalization and a proud member of the Big 4 banks of India. This paper discusses the ways in which HDFC Bank continues to adopt the latest technologies and software to continue being the market leader and one of the most digitally savvy banks of India.
Index terms - Business Process Re-engineering, HDFC Bank, Automation, Chat bots, Artificial Intelligence.