SBI partners with HCLTech's HCLSoftware to digitally transform customer engagement

India's largest public sector bank, State Bank of India (SBI), has announced a strategic partnership with HCLSoftware, the software business unit of HCLTech, to transform its customer engagement framework digitally.

As part of a five-year agreement, HCLSoftware will implement its MarTech solution, the HCL Unica platform, across SBI's digital marketing channels. 

The partnership aims to enable hyper-personalized communication while adhering to the Digital Personal Data Protection Act (DPDPA) and other stringent security requirements.

Enhanced capabilities through HCL Unica

The HCL Unica platform, which is equipped with an advanced Customer Data Platform, AI capabilities, and comprehensive campaign management tools, will leverage real-time data to significantly improve SBI’s customer engagement, as per the statement.

This will facilitate complex, multi-channel digital marketing campaigns, enhancing precision and relevance in customer interactions.

Leadership comments 

Rajiv Shesh, Chief Revenue Officer of HCL Software, said, “The partnership underscores the strength of HCL Software's innovative capabilities to deliver digital transformation at scale. We are proud that HCL Unica would enable one of the largest banking transformations in the world and help SBI deliver superior customer engagement and experience.”

Impact on SBI’s operations

The deployment of the HCL Unica platform is expected to transform how SBI interacts with its vast customer base, organizing and aggregating customer data from various touchpoints to create a unified view that facilitates deeper insights and targeted marketing initiatives.

Dinesh Khara, Chairman of SBI, highlighted the bank’s digital milestones at an event in Mumbai, stating, "Of our 480 million customers, 70 million are on the YONO (platform). We have 10 million logins per day and Rs 1 trillion in assets. 97%  of the bank’s transactions are now non-branch."

What does HCLSoftware do?

HCLSoftware, a division of HCLTech, develops, markets, sells, and supports solutions critical for the Digital+ economy, focusing on digital transformation, data and analytics, AI and intelligent automation, and enterprise security.

The parent company has over 227,000 people across 60 countries.