HDFC Bank Inks IT Compliance Agreement With Symantec

Symantec has announced that HDFC Bank has entered into a $7.4 million, three-year strategic Enterprise Level Agreement with Symantec for IT compliance, enterprise security and storage management solutions. Symantec will also provide HDFC Bank with consulting and implementation services.

According to CN Ram, head, information technology, HDFC Bank, “HDFC Bank entered into this deal with Symantec to further enhance the bank’s security posture, ensure our data is protected and available and help facilitate our compliance and corporate governance programmes to increase customer confidence.”

Symantec’s IT Compliance Solution will help HDFC Bank automate and standardize processes for compliance with laws, regulations and frameworks including SOX, Basel II, COBIT, ITIL and ISO 27001.

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Symantec Security Information Manager will provide HDFC Bank the ability to automate incident management and event correlation across all security devices, network devices, applications, servers, operating systems and databases.

Symantec Mail Security and Symantec Database Security solutions will help enable HDFC Bank to secure their messaging environment and protect sensitive information.

Together, Veritas NetBackup, Veritas Volume Replicator and Veritas Storage Foundation will help HDFC improve efficiency, protect information and minimize server downtime at critical branches of the bank.

Vishal Dhupar, managing director India, Symantec, said, “HDFC’s investment in Symantec products and services will help the company minimize IT risk and maximize the efficiency of its IT infrastructure to reduce costs and improve the delivery of service to its customers.”