Wipro inks IT outsourcing pact with Punjab&Sind Bank
IT major Wipro today said it has inked a 10-year IT outsourcing agreement worth Rs 100 crore with state-run Punjab and Sind Bank.
"We have signed an IT outsourcing deal with Punjab and Sind Bank and its worth upwards of Rs 100 crore," Wipro Senior Vice-President and Business Head (India and Middle East) Anand Sankaran told.
As part of the deal, Wipro would be responsible for system integration, provisioning and management of Finacle core banking solution and enterprise applications. The company has similar pacts other state-run and private sector lendors like Axis Bank, Union Bank of India, ICICI Bank, Vijaya Bank and Oriental Bank of Commerce.
Wipro will also undertake commissioning and management of the data centre and the disaster recovery centre as well as service and support for the bank.
"Currently the scope of work includes 500 branches," Sankaran said.
"The vision of the bank is to leverage technology to achieve business transformation. We are re-engineering our IT processes and applications to deliver superior quality service and products to accelerate business growth and achieve operational excellence," PSB Chairman and Managing Director G S Vedi said.