HDFC Securities Launches Mobile Trading App on AWS

Amazon Web Services (AWS) announced today that HDFC Securities, one of India's leading investment service providers, has launched its new mobile trading app, HDFC SKY, on the AWS cloud. With AWS, HDFC Securities is expected to reduce its annual IT infrastructure and management costs by up to 50 percent compared to using on-premises infrastructure.

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AWS to Invest $12.7 Billion in India

AWS, Amazon's cloud computing unit, has recently outlined plans to invest USD 12.7 billion in cloud infrastructure in India by 2030. This investment will help AWS meet the growing customer demand for cloud services in India.

HDFC SKY Features

HDFC SKY, which is built on AWS, gives investors access to the stock market at a scale of thousands of transactions per second. HDFC Sky serves 75 million customers and all HDFC Group companies, investors, and traders globally on trading of shares, commodities, futures, currencies, Initial Public Offerings (IPOs), mutual funds, and Exchange-Traded Funds (ETFs).

To make trading more transparent and accessible for investors, HDFC SKY operates on a flat pricing model, charging traders a consistent, predetermined fee, regardless of the amount of money invested or the number of transactions made.

HDFC Securities to Harness the Power of Machine Learning

HDFC Securities is looking to harness the power of machine learning (ML) on AWS to serve its customers better, by offering more personalized and tailored experiences. The company is also looking at intelligent document processing pipelines to improve customer onboarding and servicing experiences by using AWS's generative artificial intelligence (generative AI) offerings.

AWS Helps HDFC Securities Create a Culture of Builders

"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," said Sandeep Bhardwaj, Chief Operating and Digital Officer at HDFC Securities.

Financial Services Industry in South Asia Rapidly Adopting Cloud Technology and AI

"The financial services industry in South Asia is rapidly using cloud technology and AI to cope with growing demand from sophisticated retail investors," said Vaishali Kasture, Director and Country Leader, Commercial Sales at AWS India and South Asia. "HDFC Securities can scale resources with demand and has the tools to build an evolving suite of innovative investor services with AWS."

AWS Invests in India

AWS has invested USD 3.7 billion (about Rs 30,900 crore) in India from 2016 to 2022. Further, it plans to invest USD 12.7 billion in the country by 2030 in local cloud infrastructure, taking the total investment here to USD 16.4 billion (Rs 1,36,500 crore) by 2030. These investments are a catalyst to accelerate innovation and drive productivity, which will contribute an estimated USD 23.3 billion (Rs 1,94,700 crore) to India's total gross domestic product by 2030.

AWS Trains Over 4 Million Individuals in India with Cloud Skills

AWS has also trained more than 4 million individuals in India with cloud skills since 2017.

This investment in cloud infrastructure and training will help India to accelerate its digital transformation and become a global leader in the digital economy.