• Thu. Sep 22nd, 2022

India's HDFC Bank signs multi-year data and technology deal with Refinitiv – Reuters

ByWikafever

Sep 22, 2022

Customers read a notice pasted outside a closed HDFC bank in Kolkata, India, November 9, 2016. REUTERS/Rupak De Chowdhuri
BENGALURU, Sept 21 (Reuters) – HDFC Bank (HDBK.NS) on Wednesday signed a multi-year data and technology agreement with Refinitiv, a London Stock Exchange Group (LSEG.L) business, as the Mumbai-based lender looks to reach more customers and cut costs.
HDFC Bank, India's largest private sector lender, will get comprehensive access to Refinitiv's data and products under the agreement, enabling cost savings across several bank divisions, the companies said in a joint statement.
The terms of the agreement were not disclosed.
HDFC Bank will also get access to Refinitiv Workspace, which provides access to tools including real-time market data, news and fundamentals data. The lender will use the Workspace to provide data analysis to its treasury customers.
"With this collaboration we will get comprehensive access to Refinitiv's content and capabilities across our whole business which will enable us to achieve further efficiency and growth," said Ashish Parthasarthy, treasurer, HDFC Bank.
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