PUNE: With Amazon Web Services (AWS), India as its preferred cloud provider, HDFC Securities is providing a secure, stable, and low-latency trading service for the growing number of tech-savvy retail investors who prefer mobile trading, a statement issued by AWSsaid. Built on AWS, HDFC SKY will give its gives investors access to the stock market at a scale of thousands of transactions per second.With AWS, HDFC Securities will reduce its annual IT infrastructure and management costs by up to 50% compared to using on-premises infrastructure, said the statement.
AWS, an Amazon.com company, announced that HDFC Securities Ltd., one of the leading investment service providers in India, launched its new mobile trading app, HDFC SKY, on the world’s most comprehensive and broadly adopted cloud. HDFC Sky serves 75 million customers and all HDFC Group companies, investors, and traders worldwide with user-friendly trading of shares, commodities, futures, currencies, initial public offerings (IPOs), mutual funds, and exchange-traded funds (ETFs), said the statement.
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 they invest or the number of transactions they make.
“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.
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 financial services industry in South Asia is adapting rapidly using cloud technology and AI to cope with surging demand from sophisticated retail investors,” said Vaishali Kasture, director and country leader, Commercial Sales, 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. In addition, by leveraging our AWS Mumbai and Hyderabad infrastructure Regions, India’s leading financial services provider can meet the regulatory compliance, disaster recovery (DR) and data protection requirements it needs to continue innovating securely.”