Wipro To Provide IT Solution For Canara's Regional Rural Banks

Wipro Infotech, IMEA IT Business Unit of Wipro Ltd and a leading 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 state-of-the-art, 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.

The Core Banking project aims to integrate around 900 branches and offices in a phased manner. This would include 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).

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Wipro will deliver business-IT alignment by deploying and implementing the critical Core Banking Solution and the identified delivery channels, seamlessly. Wipro will also setup a 24-hour centralised Helpdesk facility for the project covering applications, datacentre, networks, security and end user systems.

This partnership is a big step towards technology enablement and process transformation of RRBs in offering, efficient banking services to the rural masses, and thereby enlarge the clientele base to drive financial inclusion.

"The mission of RRBs is to transform into a Bank with sound financials, committed to overall economic development of rural areas with care, competence and compassion towards its customers. Coupled with Wipro's technological expertise, we are confident of achieving this mission including expanding our client base to make it the most preferred Banking outlet in rural India," said the Chairmen of all three RRBs.

Wipro 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.

"We are delighted to be part of this prestigious project geared at the upliftment of rural India. 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," said Anand Sankaran, Senior Vice President and Business Head, India, Middle East and Africa, Wipro.