Fintech

HDFC Securities debuts HDFC SKY trading app on AWS

• ByStartupStory     |    November 27, 2023

HDFC Securities has introduced HDFC SKY, its new mobile trading app, leveraging Amazon Web Services (AWS) for seamless accessibility and efficiency in serving a vast base of 75 million customers and HDFC Group affiliates globally. The app facilitates easy trading in shares, commodities, futures, currencies, IPOs, mutual funds, and ETFs, offering a flat pricing model for transparent and accessible transactions regardless of the investment size or number of trades. Emphasizing the significance of AWS, the move aims to provide a secure, stable, and high-speed trading experience for tech-savvy retail investors who prefer mobile trading.

Sandeep Bhardwaj, Chief Operating and Digital Officer at HDFC Securities, highlighted, “Our commitment to providing a seamless user experience is our top priority, and thanks to the scalability and reliability of AWS, we have effortlessly catered to a rapidly expanding customer base of tech-savvy investors.”

To ensure consistent performance and accommodate the escalating number of transactions from retail investors (who now hold 36% of India’s total trading market share), HDFC Securities migrated its core operations to Amazon EC2. Leveraging various AWS services like Amazon EKS and Amazon EMR, HDFC Securities expanded its mobile trading services, including equities, derivatives, commodities, IPOs, bonds, and U.S. investing, to aid customer wealth growth and faster decision-making through analyzed trade information.

Vaishali Kasture, Director and Country Leader, Commercial Sales, AWS India, emphasized, “HDFC Securities can scale resources with demand and has the tools to build an evolving suite of innovative investor services with AWS.”

This initiative aligns with the broader trend in the financial services industry in South Asia, adapting rapidly with cloud technology and AI to meet the evolving demands of sophisticated retail investors. With a focus on leveraging machine learning on AWS, HDFC Securities aims to offer personalized experiences and enhance customer onboarding and servicing through AI offerings.

AWS’s significant investments in India and commitment to renewable energy sources underscore its long-term vision and dedication to innovation, sustainable operations, and community development. Amazon’s emphasis on renewable energy aligns with its goal to power operations with 100% renewable energy by 2025, contributing to global sustainability efforts.

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