Wipro edges out Satyam, bags deal of Punjab & Sind Bank

Wipro edges out Satyam, bags deal of Punjab & Sind Bank

By SiliconIndia   |    2 Comments
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Wipro edges out Satyam, bags deal of Punjab & Sind Bank
Bangalore: IT major Wipro and public sector bank Punjab and Sind Bank (PSB) announced that they have signed a 10-year contract worth around 100 crore for comprehensive IT outsourcing services for PSB. The contract was earlier awarded to Satyam, which failed to deliver on time, resulting in the contract getting dissolved.

The partnership assumes significance in view of the bank's objective to become a 100,000 crore bank by 2011 by increasing its branch networks and services. The strategic partnership is to enable centralized banking operations for PSB branches spread across the country.

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 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 solution is expected to completely transform the bank's IT landscape in terms of improved agility for offering innovative banking services.

Sardar G.S.Vedi, Chairman and Managing Director, 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, India and Middle East, Wipro said, "It is our privilege to be associated with PSB as it embarks on its journey towards business excellence. 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."

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Reader's comments(2)
1: Good move by the bank to streamline its services..
Posted by:Das - 24 Feb, 2010
Appropriate decission by the bank, and With this experience Wipro may bag many more deals from bigger banks than this
S G K Murthy Replied to: Das - 25 Feb, 2010