HDFC Bank inks $7.4 mn accord with Symantec

Mumbai, Feb 12: Housing finance major, Housing Development Finance Corporation (HDFC) Bank has entered into a 7.4 million Dollar, three-year strategic alliance with infrastructure software company Symantec, for IT compliance, enterprise security and storage management solutions.

The bank today signed an agreement with the software company, which will also provide consulting and implementation services, apart from providing comprehensive set of security, storage and data protection solutions, the bank announced here today. ''Symantec would further enhance the bank's security posture, ensure protection and accessibility of our data and help facilitate our compliance and corporate governance programs to increase customer confidence,'' HDFC head (Information Technology) C N Ram said.

It was due to exponential data growth and the need to comply with an ever-expanding number of laws and regulations that HDFC expanded its relationship terms with the software company in order to minimize risk and maximize the efficiency of its IT organisation, Mr Ram added.

UNI