HDFC Securities extends its investing app, HDFC SKY, to millions of traders using AWS
New Delhi: HDFC Securities, a leading investment service provider in India, has launched its mobile trading app, HDFC SKY, on Amazon Web Services (AWS), the world’s most widely adopted cloud platform. Serving 75 million customers globally, HDFC SKY offers user-friendly trading for various financial instruments with a flat pricing model for transparency. Operating on AWS ensures secure, stable, and low-latency trading for tech-savvy retail investors. HDFC Securities anticipates a 50% reduction in annual IT infrastructure costs compared to on-premises solutions.
HDFC Securities, facing a surge in retail investor transactions, migrated its core workloads to Amazon EC2 for consistent high performance. Utilizing Amazon EKS, they developed mobile trading services like HDFC Sky, covering equities, derivatives, commodities, IPOs, bonds, and U.S. investing. Amazon EMR and Redshift enable secure trade analysis, providing risk management data for faster decision-making. Leveraging AWS in Mumbai and Hyderabad regions ensures increased performance, security, and scalability, meeting data residency and protection requirements in the financial industry.
Sandeep Bhardwaj, chief operating and digital officer at HDFC Securities said, “AWS helped us to create a culture of builders within HDFC Securities by enabling us to rapidly experiment at a lower cost so that we can innovate on behalf of our customers. Our commitment to provide a seamless user experience is our top priority, and thanks to the scalability and reliability of AWS, we have effortlessly catered to a rapidly expanding customer base of tech-savvy investors. We are pleased to have significantly reduced our time to market for pioneering services like HDFC SKY, empowering us with the agility to lead the market and help our customers build wealth.”
HDFC Securities aims to enhance customer experiences through machine learning on AWS, enabling personalized services. They are exploring AWS’s generative AI for intelligent document processing to streamline customer onboarding and servicing processes.
Vaishali Kasture, director and country leader, Commercial Sales, AWS India and South Asia said, “The financial services industry in South Asia is adapting rapidly using cloud technology and AI to cope with surging demand from sophisticated retail investors. HDFC Securities can scale resources with demand and has the tools to build an evolving suite of innovative investor services with AWS. In addition, by leveraging our AWS Mumbai and Hyderabad infrastructure Regions, India’s leading financial services provider can meet the regulatory compliance, disaster recovery (DR) and data protection requirements it needs to continue innovating securely.”
In 2022, Amazon sourced 90% of its electricity from renewables, making it the largest corporate buyer of renewable energy globally. With over 400 projects worldwide, Amazon aims to power 100% of its operations with renewables by 2025. In India, the company has invested in six utility-scale projects (three solar and three wind-solar hybrids) with a total capacity of 920 megawatts, supporting Amazon’s offices, fulfillment centers, and data centers in the country.
