In a country where digital payments are thriving, India’s largest private sector bank, HDFC Bank, is facing criticism for its glitchy online banking facilities.
With a customer base surpassing 120 million – larger than the population of Germany – and a vast network of over 8,300 branches, HDFC Bank has established itself as a financial giant.
However, recent complaints from prominent content creators and users on social media platforms have shed light on the challenges faced by HDFC Bank and other banks in adapting to the digital era.
HDFC Bank, boasting a market capitalization of over INR 8 trillion as of 2021, is a key player in India’s banking sector. Its brand value, exceeding 32 billion in 2022, reflects its prominence in the financial landscape.
Despite these achievements, not every customer is satisfied, and one such customers are Abhi and Niyu, a popular husband-wife content creator duo with a massive following on YouTube.
Recently on X (formerly Twitter), Abhi and Niyu expressed their frustration with HDFC’s online banking platform, stating, “HDFC’s websites are so glitchy, I really don’t understand why they don’t fix it. Sheer stupidity.”
HDFC's websites are so glitchy, I really don't understand why they don't fix it. Sheer stupidity— Abhi and Niyu (@abhiandniyu) November 24, 2023
So far the tweet has been viewed by 46.7K X users and has sparked a wave of responses from other users sharing similar concerns. One user pointed out “Not just HDFC, It’s very funny, on one hand we are using the greatest payment system UPI and on the other hand Private bank apps are too glitchy.“
The sentiment echoed by users suggests a widespread frustration with the digital banking experience, not limited to HDFC Bank alone.
Another X user Abhi, responding to the HDFC tweet, drops a recommendation, “Try SBI then you will love it,” indicating that the user’s experience was with SBI official website was also not too good which shows customer’s dissatisfaction with the online banking services is on boom even with the public sector banks.
A user named Hassan Mahmood emphasized, “All of the banks operating in India are glitchy. Doesn’t matter the turnover. They can’t turn over their designers to make something capable of operating without making the customer angry.”
This chorus of dissatisfaction raises concerns about the state of online banking facilities in India. Despite the country’s top ranking in global digital payments for 2022, with 89.5 million digital transactions reported, users seem to be grappling with not-so-good online banking experiences. The rapid adoption of digital banking in India might be one of the contributing factors to this issue.
While digital payments have become an integral part of India’s financial ecosystem, banks appear to be struggling to keep pace with this change. The surge in online transactions coupled with glitches in banking platforms has created a challenging situation for both public and private sector banks.
The criticism directed at HDFC Bank and other banks on social media highlights the urgent need for improvements in online banking infrastructure. Customers, including prominent voices like Abhi and Niyu, expect a seamless and glitch-free experience when conducting financial transactions online. As India continues to lead in digital payments, the focus is on banks to enhance their digital capabilities and provide a user-friendly experience for all customers.