HDFC Bank and Bloomberg Establish Global Strategic Collaboration
June 30, 2023
Bing Li and Ashish Parthasarthy formalizing the Collaboration
Mumbai: HDFC Bank and Bloomberg today jointly announced a global strategic collaboration to accelerate digital transformation and risk oversight at India’s leading private bank.
HDFC Bank and Bloomberg through this strategic partnership will look to explore opportunities to collaborate on financial technology, and automation among other areas to support the bank’s global growth. By drawing on its global expertise in financial services, Bloomberg will collaborate with HDFC Bank to offer solutions for risk oversight to align with the constantly evolving global regulatory landscape.
“At HDFC Bank we are very focused on our digital transformation journey. As global markets and regulations evolve at an unprecedented pace, it is imperative to equip ourselves with world-class technological solutions to streamline our systems and processes. We expect that our strategic collaboration with Bloomberg will deliver unique value on all fronts and significantly increase our productivity, creating value for stakeholders,” said Ashish Parthasarthy, Treasurer, HDFC Bank.
HDFC Bank already uses Bloomberg’s MARS SIMM to comply with Uncleared Margin Rules as well as Bloomberg’s Multi-Asset Risk System (MARS) to support its transition to risk-free rates (RFR).
“It is exciting to collaborate with HDFC Bank as they continue on their journey. said Bing Li, Bloomberg’s Head of APAC. “The Indian banking system is growing significantly, and HDFC Bank has long been leading the charge when it comes to investing in innovation and the adoption of world-class financial technology solutions. We are proud to collaborate with Indian financial institutions like HDFC Bank and to support India’s rapidly growing financial markets as they take on new global relevance.”
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About HDFC Bank:
For more information, please log on to www.hdfcbank.com
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Bloomberg Media Contact:
Aniruddha Ghosh
aghosh102@bloomberg.net
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