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HP bags $150 m Bank of India deal

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CIOL Bureau
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BANGALORE: Bank of India (BoI) has selected HP as its preferred supplier of IT infrastructure and applications for a 10-year outsourcing contract valued over $150 million. According to HP, this contract is a first of its kind encompassing IT enabled transformation in a fully outsourced model. It enables BoI not only to achieve cost advantage but also derive significant business benefits in the competitive banking environment in India.



Under the terms of the contract, HP will implement and manage a Core Banking Solution (CBS) across 750 branches of Bank of India (BoI). The CBS solution is based on Infosys’ flagship banking solution, Finacle application.



HP will also implement and manage a data warehousing and document imaging solution and provide integrated channel management including Tele Banking, Internet Banking and ATM. The contract also envisages building and managing a Datacenter, Disaster Recovery site, Help-desk and Call centre. HP will also manage IT infrastructure and networks across 750 branches of the bank; supply and maintain technology products including servers, desktops and peripherals across the branches and provide asset refresh & obsolescence protection for IT assets.



"We have plans to transform ourselves into a highly customer focused bank in the country. We want to align our IT strategy with business strategies which will help us serve our customers better", said M Venugopalan, Chairman and Managing Director, Bank of India. "We were looking for a partner with the right domain knowledge and expertise in integrating and managing large projects. We chose HP due to their experience in both outsourcing and systems integration. Furthermore, HP will help us evolve an adaptive infrastructure, ensuring the most cost-effective utilization of IT."



The Bank envisages about 43 million customer accounts and 6 million transactions per day by the end of the tenth year.



HP is working with its partners Infosys, who will provide the core banking platform, Finacle and Oracle for database, OFSA & data warehouse solutions.







CIOL Bureau

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