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Thursday, June 13, 2024

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HDFC Bank revamps with Interblocks iSwitch

Interblocks has implemented iSwitch - an ATM Switch and Monitoring System - at HDFC Bank, Sri Lanka.

After establishing their position as a leader in financial solutions in the commercial banking sector, the latest venture marks Interblocks' first implementation in a public bank in Sri Lanka.

The new applications will enable HDFC to be at the forefront in overall banking operations with quick and innovative products and help the bank to maintain a healthy customer service relationship. With its technology upgrade, HDFC can now offer its customers a wide range of new services, through the ATM network.

"We are very happy to have signed this agreement with Interblocks to upgrade our customer service package.

We are venturing into the field of savings, that is retail savings accounts and deposit accounts and through this ATM network, customers will be able to access our services from any part of the country.

We are also looking at the other banks that Interblocks has linked with which will enable us to avail our facilities to customers from almost any ATM machine to access our services," said DGM Marketing, HDFC Bank Priyanka Baddevithana.

Interblocks' wide range of new features and advantages prompted HDFC to pick Interblocks to transform its operations. The iSwitch applications' three-tier architecture will provide the bank greater flexibility, enabling easier administration of the network.

Interblocks set a benchmark after pioneering the commercial use of International Financial Exchange (IFX) standards in 2001, prompting other vendors to consider adopting the framework.

The IFX standards are an XML-based message set that has been developed to aid the management of expanding complex corporate banking needs, while seeking benefits offered by the networking environment.

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