HDFC Bank launches 1st edition of API Banking Summit on Dec 17

Bengaluru. HDFC Bank held the 1^st edition of its API Banking Summit in Bengaluru today. In this first-of-its-kind event in the country, HDFC Bank invited partners to use its open banking API services, which enable third parties to build services that can connect to its banking systems.

With over 100+ APIs in ready-to-consume stage and the best banking security in the country, HDFC Bank offers a huge opportunity for third parties such as fintech’s, aggregators, third-party service providers & platforms, direct selling agents and developers to build applications & portals using its open banking API services. These solutions would be largely in the areas of payments, customer service & customer acquisition.

A high-profile jury will select the best solutions from the 24 shortlisted partners over the next one day. The 24 have been chosen from over 100 entries received. The winners will get an opportunity to work with HDFC Bank

The jury comprises senior management of HDFC Bank. Entries were invited from partners under 6 categories namely, Payments, Customer Service, Customer Acquisition, Analytics, Social and Operational Efficiency. Evaluation is done on the following four parameters:

• Uniqueness & Innovation
• Business Potential
• Usability and Scalability
• Value addition to business
• Compatibility with HDFC Bank’s business and technology platforms.

“Our objective is to encourage innovation in the fintech space in the country, discover the best and adopt it to maximise customer experience and delight. Through the API Banking Summit, the bank is able to help create the latest banking facilities for its customers. As a leader in adopting innovation, it’s only fair that we tap into the best and cement our leadership position.” Mr. Rajnish Khare, Head – Digital Transformation & API Banking, HDFC Bank

“Innovation is in the DNA of HDFC Bank. Our Bank is always striving to offer the best for our customers. An initiative like the API Banking Summit not only helps create a positive impact for our customers but also fuels innovation for the entire Banking Industry” said Mr. Arun Mediratta, Branch Banking Head- South, HDFC Bank.