Wipro implements core banking solution for Canara Bank’s initiative

by CXOtoday Staff    Mar 10, 2011

core banking solutionWipro Infotech, the IT Business Unit of Wipro and a provider of IT and business transformation services, today announced it has signed a 5 year strategic contract to drive Canara Bank’s Regional Rural Bank (RRB) initiative. The contract is to provide a technology-driven, core banking solution for three of Canara Bank’s sponsored regional Rural Banks - Pragathi Gramin Bank (Karnataka), South Malabar Gramin Bank (Kerala), and Shreya Gramin (Uttar Pradesh).

“We plan to deliver extremely robust, scalable and flexible centralised core banking solution aligned with the corporate mission, strategy and business plan of the Regional Rural Banks,” remarked Anand Sankaran, Sr. VP and BH, India, Middle East and Africa, Wipro.

The project aims to integrate around 900 branches and offices in a phased manner – which includes branches, extension counters, service units, head offices, regional offices, training centers, other back offices, data centre, disaster recovery centre, project office which would also operate as the data centre monitoring unit (DCMU), and network operations centre (NOC). Wipro, with its practices in governance, process excellence and integrated service delivery, will deliver business-IT alignment by deploying and implementing the core banking solution and the identified delivery channels, it informed. The company will also setup a 24-hour centralized helpdesk facility for the project covering applications, data center, networks, security and end user systems.

Wipro stated that it will be implementing Finacle core banking solution along with other standard products such as ALM, AML, mobile banking, EMS etc. With this, RRBs of Canara Bank will be in compliance with statutory and Regulatory requirements including MIS.