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February 24, 2010

Wipro wins 10-year IT outsourcing services contract from Punjab and Sing Bank

To enable centralised banking operations for PSB branches

By CBR Staff Writer

Wipro and public sector bank Punjab and Sind Bank (PSB) have signed a 10-year contract for IT outsourcing services for PSB, to enable centralised banking operations for PSB branches spread across the country.

Through the partnership, the bank will be able to leverage technology to compete better and achieve operational excellence. The partnership assumes significance in view of the Bank’s objective to become a INR1000bn bank by 2011 by increasing its branch networks and services.

The strategic partnership is to enable centralised banking operations for PSB branches spread across the country. Through this partnership, the bank will be able to leverage technology.

Wipro said it will be responsible for system integration, provisioning and management of Finacle core banking system and enterprise applications. This would include 24*7 management of the entire underlying IT infrastructure covering computing platforms and networking.

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As part of the program, Wipro will also undertake commissioning and management of the data centre and the disaster recovery centre and service and support for the bank. The offering is expected to transform the bank’s IT landscape in terms of improved agility for offering innovative banking services.

Sardar Vedi, chairman and managing director of Punjab and Sind Bank, 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 of service and products to accelerate business growth and achieve operational excellence.”

Anand Sankaran, senior vice president and business head of India and the Middle East at Wipro, said: “Wipro’s total outsourcing framework and strong program governance will ensure the application suite and the underlying infrastructure is aligned to PSB’s business needs. Coupled with our deep domain knowledge, we are confident PSB will set new standards in Banking services and Customer Relationship Management in the years to come.”

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