Online banking restoration: HDFC Bank

Mumbai HDFC Bank On Wednesday he said that normality has been restored to his net banking and a technical problem that affected his online services for almost three days has been resolved.

Responding to customers, the bank said the technical flaw has been rectified. Our net banking and mobile banking platforms have now stabilized, the lender said.

Suresh Ganapathy, research analyst, Macquarie , speculated that the interruption was due to additional security measures. “They introduced an additional firewall as a security door and that could not support the burden of transactions. Each transaction has to go through 8 security doors. Unfortunately, the new improved firewall could not support the load. This could be the problem from our point of view, he said in a note.

The note highlighted the impact a technical problem could have for someone with the scale of HDFC Bank. “HDFC Bank dominates the payment space. Nearly 40% of the swipes that happen across point of sale terminals and 45-50% of the e-commerce transactions that happen go through the HDFC Bank payment network, ”the note said.