HDFC Bank
Also a provider — view HDFC Bank’s profile →“Can India's largest private sector bank become the embedded finance infrastructure layer for India's digital economy by opening its balance sheet and banking rails via APIs to fintechs, corporates, and platforms?”
Founded in 1994 as a new-generation private sector bank under RBI's liberalization, HDFC Bank rapidly became India's largest private sector bank by assets, particularly after its 2023 merger with parent HDFC Ltd. Over the past decade, the bank has aggressively built an open banking API platform (developer.hdfcbank.com) to embed its financial products — accounts, loans, cards, payments — into third-party applications and fintechs. The embedded finance strategy is central: HDFC Bank now offers APIs for personal/business loans, debit/credit card EMI, UPI, account aggregator, video KYC, and cross-border payments, positioning it as infrastructure for India's digital economy rather than just a traditional retail bank.