InvestorQ : Why is HDFC Bank planning to upgrade its credit card system?
Katherine Gonsalves made post

Why is HDFC Bank planning to upgrade its credit card system?

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rhea Babu answered.
4 months ago
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HDFC Bank will be upgrading its legacy credit card system and converting it into a modern technology platform. The whole idea here is to make the processes more efficient and cost-effective as a whole. In the last few months, HDFC had a few shutdowns in its credit cards business forcing the bank to put its fresh customer acquisition on hold for the time being.

However, HDFC Bank is already on the job and is looking at how to use this as an opportunity to tighten the systems. The bank is currently in talks with fintech companies like Zeta and Sprinklr and will launch credit cards on their Fintech platforms post the ban. HDFC Bank is also a likely bidder for the Citi business, which has a strong cards franchise.

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