Look no further if you want to know why AWS or Amazon Web Services are partnering with HDFC Securities Limited. On November 27, the first day of AWS’s reinvent the 12th annual event in Las Vegas, Amazon announced plans to invest 12.7 billion dollars in India’s cloud infrastructure by 2030. The first is providing cloud computing services for HDFC Securities for its mobile trading app HDFC SKY to service over 75 million customers.
The partnership between AWS and HDFC Securities Limited is a win-win situation, as both will benefit from the partnership. AWS strengthens its technological alliance with top Indian companies to expand using its cloud computing services. HDFC Securities can reduce its annual IT infrastructure costs by half by partnering with AWS to handle thousands of transactions per second on the app. Also, it will help boost the HDFC securities share price in the bourses in the coming days.
Continue reading the blog until the end to know how AWS is partnering with HDFC Securities and how it will benefit both mutually.
Why is HDFC Securities Limited partnering with AWS?
HDFC Bank, in terms of market cap, is the largest bank in India and the fourth largest in the World. HDFC Securities, the brokerage arm of HDFC Bank, is one of the leading investment service providers. Statistics confirm that out of the total trading market share in India, 36% are retail investors. HDFC Securities, wanting to tap such a huge potential, created the HDFC SKY app to provide a seamless and quick trading experience for its over 75 million customers. Hence, rather than having physical infrastructure for handling such huge transactions, it opted for AWS to migrate its core workloads. Amazon EC2 or Elastic Compute Cloud is to provide the HDFC SKY app with secure and resizable computing capacity in the cloud. Apart from reducing the annual infrastructure costs of the app by over 50%, there are many benefits of partnering with AWS that including the following among others.
- Using Amazon EMR, a cloud-based big data service, and Amazon Redshift, a cloud data warehouse, HDFC Securities Limited can provide customers with many risk management data like positions, margins, etc., for making fast trading decisions.
- By using AWS’s two zones in Mumbai and Hyderabad, HDFC can increase performance, reliability, security, scalability, business continuity, disaster recovery, and meeting data residency preferences and protection levels.
- By leveraging ML or machine learning on AWS, HDFC can serve its millions of customers better with customised and personalised services.
- By using the generative AI or artificial intelligence offerings by AWS, HDFC can improve customer onboarding and fulfil their requirements through intelligent document processing pipelines.
Why is AWS partnering with HDFC Securities?
There are many more benefits for HDFC securities by partnering with AWS, but Amazon will also benefit from it. AWS is planning to grow its cloud computing business in India, which, as per IDC estimates, is to reach over 17.8 billion dollars by 2027. Along with HDFC Securities Ltd, AWS is also partnering with TCS and Tech Mahindra to make its total investment in India 12.7 billion dollars. It is apart from the 3.7 billion dollars invested in India between 2016 and 2022 for forming AWS zones in Mumbai and Hyderabad. AWS, already having the largest share in the cloud computing market worldwide, is eyeing even 100-year-old companies in India to move to the cloud to increase its share.
The above facts will help you to know why Amazon is partnering with HDFC Securities Limited to benefit mutually.
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