Wipro bags Rs 300-cr Dena Bank deal

BANGALORE: Wipro Infotech has announced that it has won a Rs 304 crore deal for providing comprehensive IT outsourcing services to Dena Bank over a period of ten years. Wipro Infotech is the India, Middle East and Asia Pacific division of the $2.39 billion Wipro.

According to a Wipro press release, the contract covers comprehensive applications and infrastructure provisioning and management to enable centralized banking operations of Dena Bank across its 850 branches. The company will be responsible for provisioning and management of a suite of banking applications covering core banking, delivery channels, risk management, treasury, credit operations, cash management, asset liability management and anti-money laundering. The core banking product is Infosys’ Finacle.

PL Gairola, CMD of Dena Bank said, "We are re-engineering our IT processes and applications – which will ultimately deliver superior quality of services and a wide product portfolio to our customers. This engagement with Wipro will allow Dena Bank to accelerate growth in business volumes while achieving operational excellence.”

The bank has also appointed Ernst and Young, renowned consultancy company, as the consultants for the core banking project. The project commenced in November 2006 and the pilot implementation is expected to take about six months.

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