Wipro, India’s third largest IT services firm, has bagged a 10-year contract with public sector lender Punjab and Sind Bank (PSB) to enable it to centralise banking operations. Though the Bangalore-headquartered company said that the deal size is in excess of Rs 100 crore.
Wipro will be responsible for system integration, provisioning and management of Finacle core banking solution and enterprise applications. This would include round-the-clock management of the entire underlying IT infrastructure covering computing platforms and networking.
As part of the programme, Wipro will also undertake commissioning and management of the data centre and the disaster recovery centre, service and support for the bank. The solution is expected to transform the PSB’s IT landscape in terms of improved agility for offering innovative banking services.
“Wipro’s total outsourcing framework and strong programme governance will ensure the application suite and the underlying infrastructure is aligned to PSB’s business needs. We are confident that PSB will set new standards in banking services and customer relationship management in the years to come,” Anand Sankaran, senior vice-president and business head, India and Middle East, Wipro said.
PSB has set a target to become a Rs 100,000 crore bank by 2011 by increasing its branch networks and services. G S Vedi, chairman & MD, Punjab and Sind Bank, said the bank was re-engineering its IT processes and applications to deliver superior quality of service and products to accelerate business growth. “The vision of the bank is to leverage technology to achieve business transformation,” he added.
