HDFC Bank Upgrades Wealth Platform with Infosys Finacle
By Business Desk
HDFC Bank enhances wealth management services by implementing Infosys Finacle’s modern, API-driven platform, streamlining operations and expanding investment options for affluent clients.
HDFC Bank, India’s largest private-sector lender, has significantly upgraded its wealth management technology by implementing Infosys Finacle’s comprehensive wealth management platform.
This strategic move replaces outdated legacy systems with a modern, API-driven architecture, designed to enhance digital wealth services for its growing base of affluent and high-net-worth clients.
Platform Enhancements and Capabilities
The new platform consolidates both domestic and offshore wealth operations, streamlining processes through automated workflows. It expands investment product offerings and provides real-time portfolio management while minimizing manual interventions.
The system supports 12 diverse asset classes, including mutual funds, fixed income, private equity, alternative investment funds, insurance, and structured products. It also introduces digitized margin lending with automated collateral checks and risk controls.
Advanced real-time portfolio monitoring and advisory tools are available for relationship managers. Over 350 APIs have been integrated to ensure seamless connectivity across banking systems, facilitate real-time settlements, and automate corporate actions.
Industry Perspective and Future Outlook
Rakesh K. Singh, Group Head at HDFC Bank, stated that this transformation aims to create a unified, digital-first wealth platform that offers agility, efficiency, and innovation for both domestic and international businesses.
Sajit Vijayakumar, CEO of Infosys Finacle, highlighted the rapid digital transformation currently underway in India’s wealth management sector.
This implementation aligns with a broader trend in the Indian banking sector, where institutions are adopting cloud-ready, API-first platforms. These platforms leverage artificial intelligence, automation, and data-driven advisory services.
Other prominent banks, including ICICI Bank, Axis Bank, Kotak Mahindra Bank, and IndusInd Bank, are also expanding their digital wealth capabilities. They are introducing AI-powered advisory tools, unified investment platforms, and personalized portfolio services to compete in India’s fast-growing wealth management market.