According to the sources, HDFC Bank Ltd. is looking to replace its legacy credit card system with a modern technology platform to make the processes more efficient and cost-effective. The decision to upgrade the system of credit cards is also expected to provide the customers a better experience and more security.
The person aware of the matter, “HDFC Bank is considering moving its card platform to a credible fintech company for better end-to-end processing of cards, customer experience, and security. There are many new-age fintechs that have developed a good platform for online banking, credit card issuance and management that are offering banks the option to migrate it to their platforms.”
“The bank is in talks with fintech companies such as Zeta and Sprinklr for launching their credit cards once the ban is lifted,” the person added.