One of the seven banks is the Uttar Bihar Gramin Bank is the biggest RRB in India with a large presence in Bihar, a press release from Wipro said. According to it, the engagement is of vital importance to Central Bank of India in order to achieve its objective of financial inclusion and bringing low cost and efficient banking services to the rural masses. The Centralized Core Banking Project is expected to facilitate efficient internal operations for the seven RRBs. It is also expected to provide the competitive edge by enabling regional rural banks offer innovative products and services at optimum costs, it said.
The project will integrate 2000 sites which include branches, extension counters, satellite offices, regional offices, head offices and back offices in a phased manner. The solution would also offer alternate delivery channels like Internet Banking and Mobile Banking
, including SMS alerts.
The release said Wipro would deliver business-IT alignment by deploying and implementing the critical CBS and the identified delivery channels seamlessly. Wipro will also set up a 24-hour centralized help desk facility for the project covering applications, data centre, networks, security and end-user systems.
“The rural customer of the RRBs will receive superior customer experience from the RRB, and fast efficient systems will enable alignment with the shared business vision of Central Bank of India and the Regional Rural Banks sponsored by the Bank,” Mr S Sridhar, Chairman & Managing Director, Central Bank of India said.
Mr Ramnath Pradeep, Executive Director, Central Bank of India, said, “Our vision is geared towards providing a future-proof strategy to transform the RRBs into institutions with sound financials committed to overall economic development of rural areas in terms of care, competence and compassion towards its customers. Wipro’s proven expertise in large Core Banking Projects coupled with a vibrant innovation culture will be the core driver of this significant project. We are pleased to partner with Wipro / Infosys in this strategic endeavor.”
The software has been provided by Infosys Ltd using “Finacle” along with other standard products such as ALM, Govt. Business, Internet, ATM, EMS, AML and so on. With this, RRBs of Central Bank of India will be in compliance with statutory and regulatory requirements, including MIS, the release said.
Mr Anand Sankaran, Senior Vice President and Business Head, India, Middle East and Africa, Wipro, said: “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 Centralized Core banking Solution
aligned with the corporate mission, strategy and business plan of the Regional Rural Banks. This deployment will go a long way in helping Central Bank of India achieve its vision of encouraging more people in the low income groups, adopt banking solutions in day-to-day life.”
Last week, Wipro had signed a similar contract for implementing a CBS across 803 branches of five RRBs sponsored by UCO Bank, another public sector bank.
The seven sponsored RRBs of Central Bank of India covered by the contract are: Uttar Bihar Gramin Bank (865 branches), Satpura Narmada Kshetriya Gramin Bank (347), Uttarbanga Kshetriya Gramin Bank (119), Vidarbha Kshetriya Gramin Bank (96), Ballia-Etawah Gramin Bank (138), Surguja Kshetriya Gramin Bank (85), and Hadoti Kshetriya Gramin Bank (84).
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