Dewan Housing Finance Corporation Ltd. (DHFL), one of India’s leading housing finance companies, is leveraging IBM technology including Cloud and Analytics, to create a digital enterprise and accelerate its growth strategy.
With over 350 branches across the country, to progress the company’s vision and provide customers with access to home loan products, insurance services and flexible fixed deposit choices, DHFL recognized the need to implement a customer-centric digital strategy. DHFL was looking for a technology partner who could help them realize this while balancing their existing IT investments.
To address this, DHFL has deployed an enterprise wide transformation called Tech2.0 to digitally revamp its organization. Core to this program, DHFL is using IBM’s technology that will enable business transformation for better customer engagements, reduce turnaround time, improve efficiency, and increase productivity.
Specifically, IBM is working with DHFL to deploy comprehensive business solutions that leverage the power of:
- IBM Design Thinking
- Watson Analytics
- IBM Connections
- IBM Managed Security Services
- IBM Digital Experience platform.
These solutions are being delivered via a combination of on-premise infrastructure and from IBM Cloud Data Center in Chennai, to enable employees to collaborate more efficiently, enhance customer experience, data-driven decision making, manage information security risks and scale its technology infrastructure.
Commenting on the announcement, Mr. Jayesh Shah, EVP & Head – Technology Initiatives, DHFL Financial Services Group, said, “The Indian financial services industry is at an inflection point with rapidly changing market and customer expectations, and, technology is the catalyst that’s bringing about this change. As DHFL undergoes a paradigm shift and begins venturing into newer industry segments, we are delighted to have an established technology partner like IBM.” Adding further, Mr. Shah, said, “Digitization will help us enhance end-user services and provide a seamless online portal experience across multiple services such as online payments, access to information and relevant reports/statements, etc.”
DHFL will use IBM Watson Analytics, a data exploration and visualization tool, to help its employees use data for deeper customer insights to support decision making and guide the design of new services. Watson Analytics will help DHFL unlock the value of historical data as well as gain new insights.
IBM has also implemented a cloud-delivered, Identity-as-a-service solution, first-of-its-kind in the country that automates the user identity and access management process, lowering the overall IT security risk for DHFL.
As part of DHFL’s work with IBM, the company will also use IBM Resiliency Communications as a Service. The Cloud-based platform will enable a more rapid and interactive communication over multiple media and messaging channels. The solution will, allow DHFL to respond to a disruption event quickly and restore critical services to keep the business running during the incident.
IBM will also manage end-to-end IT infrastructure for DHFL’s application hosting environment and disaster recovery site by providing IT-as-a-Service, using innovative automation techniques for gaining real-time visibility.
Mr. Chetan Naik, VP IBM Sales said “Companies like DHFL recognize that to successfully expand and grow, technology must be at the core of their strategy. IBM is working with DHFL to help them in their digital transformation journey so that they can take full advantage of the flexibility, speed, security and cost benefits of a Hybrid Cloud environment. The partnership will enable them to make decisions based on insights and help interpret market trends to gain market share.”