Wipro inks Dena Bank outsourcing contract

Source: Wipro Infotech

Wipro Infotech, a leading provider of IT solutions and services, today announced its tenth Total Outsourcing win in India. Wipro has won a contract for providing comprehensive IT outsourcing services to Dena Bank over a period of 10 years.

Wipro Infotech is the India, Middle East and Asia Pacific division of the US $2.39 billion Wipro Limited.

The scope of the contract covers comprehensive applications and infrastructure provisioning and management to enable Centralized Banking operations of Dena Bank across its 850 branches. Wipro 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. In addition, Wipro will be responsible for provisioning, system integration and 24*7 management of the entire underlying infrastructure covering computing platforms and networking, including commissioning and management of the Data Centre and the Disaster recovery centre. The contract ensures that Dena Bank is able to enhance its technology continuously in line with its business objectives of Vision 2010 document through periodic refreshes and upgrade.

"This is Wipro's tenth win for Total Outsourcing (TOS) in India. It is an endorsement of the maturity of integrated service delivery processes, the deep domain and technology expertise, and the superior customer experience we have delivered in our engagements. Dena Bank will achieve business transformation and IT operations excellence through our TOS model. They will have access to leading edge technology choices to successfully exploit the business opportunities that will emerge over the term of the contract. Superior service manageability, flexibility and unified process excellence across various IT elements makes TOS a compelling proposition for our customers. We are happy to be partnering Dena Bank in their journey towards business excellence" said Suresh Vaswani, President - Global IT Service Lines & Wipro Infotech

He further added "We have been focused on the banking industry for over two decades, which provides us with deep insights into challenges and opportunities faced by our customers. We have constantly innovated and launched new service lines which allow our customers across verticals to leverage their IT investments for improved business growth and operational efficiency. Our TOS practice has been a huge success in the Indian geography, and the traction that we are witnessing for the offering is heartening."

Dena Bank's vision is to achieve business transformation by leveraging technology. "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. As we embark on our journey towards business excellence - we are happy to have a trusted and experienced partner like Wipro, experienced consultants M/s Ernst & Young and renowned IT Professor N L Sarda of IIT, Mumbai by our side" said Shri P.L. Gairola, Chairman and Managing Director, Dena Bank. "With a futuristic view of enhancing the practice of Customer Relationship Management, the Bank has initiated the activity of Data Cleaning and Updation in the pre migration stage itself compared to other nationalized banks. Adequate care has also been taken in framing the SLA in line with the regulatory guidelines of RBI. Wipro's proven track record in the BFSI sector, leadership position in India and strong IT and people processes made it a natural partner for this engagement", he added.

"Dena Bank derives a lot of benefits from this engagement. A SLA driven technology backbone ensures that our customers can expect a consistent service across our delivery channels. We will also be able to offer new products and services to our customer through the flexible technology platform of Finnacle offered by M/s Infosys. Our internal processes will become efficient and standardized - improving decision making substantially. Wipro's Total Outsourcing (TOS) framework and strong program governance will ensure that the application suite and the underlying infrastructure is aligned to our business needs" said Shri. U.S. Kohli, Executive Director, Dena Bank.

The project has commenced in November, 2006 and the pilot implementation is expected to take about 6 months. The project will be rolled out to all the 850 branches of Dena Bank in phases.

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