Wipro to implement Oracle applications for K'taka Bank

BANGALORE: Wipro Infotech today announced that it has signed a contract with Karnataka Bank to deploy Oracle's financial services industry specific applications.

This would be in compliance with RBI's prudential norms on Asset Liability Management (ALM).

Wipro will enable building an Enterprise Risk Management Architecture along with an ALM System. The solution will help Karnataka Bank improve reporting, performance management and corporate governance.

"We are eagerly awaiting the implementation of this solution, since it will help us generate standard ALM reports such as the Static Liquidity Report, Interest Rate Sensitivity and Dynamic Liquidity Reports. It will also help us generate cashflow analytics and other risk analytics. We are confident that Wipro will help us achieve these objectives," said Ananthakrishna, chairman, Karnataka Bank.

"We will be installing and deploying Oracle's Risk Manager application at Karnataka Bank. The Risk Manager application will be a foundation for a comprehensive risk management system. We are confident that our solution will bring enormous value to Karnataka Bank. It will provide reliable data for dimensional analysis by consolidating and reconciling data from various data sources," said Rajat Mathur, vice president - International Operations, Wipro Infotech.

This project will be made operational early next year.