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HDFC Securities, a prominent investment service provider in India, has launched its mobile trading app, HDFC SKY, on Amazon Web Services (AWS). Utilizing AWS as its preferred cloud provider, HDFC Securities aims to offer a secure and low-latency trading service to tech-savvy retail investors who prefer mobile trading. The move to AWS is expected to reduce HDFC Securities' annual IT infrastructure and management costs by up to 50% compared to on-premises infrastructure. HDFC SKY, built on AWS, enables investors to access the stock market at a large scale, handling thousands of transactions per second.
HDFC SKY operates on a flat pricing model, providing traders with a consistent predetermined fee, irrespective of the invested amount or the number of transactions. With AWS, HDFC Securities plans to leverage machine learning (ML) capabilities to enhance customer experiences by offering personalized and tailored services. The company is also exploring the use of generative artificial intelligence (generative AI) offerings from AWS for intelligent document processing pipelines, aiming to improve customer onboarding and servicing experiences.
The deployment on AWS Mumbai and Hyderabad infrastructure regions offers HDFC Securities increased performance, security, reliability, and scalability. It ensures business continuity, disaster recovery, and compliance with data residency preferences and data protection requirements in the financial services industry. HDFC Securities serves 75 million customers globally, covering various trading activities such as shares, commodities, futures, currencies, Initial Public Offerings (IPOs), mutual funds, and Exchange-Traded Funds (ETFs). AWS has recently outlined plans to invest $12.7 billion in cloud infrastructure in India by 2030 to meet the growing demand for cloud services.
