WIPRO DISPLACES SATYAM TO BAG RS 100-CR PUNJAB & SIND BANK CONTRACT

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WIPRO Infotech, the domestic arm of Wipro Technologies, on Wedneday bagged a Rs 100-crore IT contract from Punjab & Sind Bank, to integrate its branches with an IT network and implement Infosys’ core banking solution. The contract was earlier awarded to Satyam, which failed to deliver on time, resulting in the contract getting dissolved.

The tender was issued in 2009 and a new vendor chosen for the 10-year IT contract. “Our customers will be able to access online and mobile banking soon. They will be able to buy and sell shares from online repositories. The first phase will cover 500 branches,” said GS Vedi, chairman & managing director, Punjab and Sind Bank.

The IT deal was awarded to erstwhile Satyam Computer Services in August 2006, but they were not able to to fulfil some criteria, a bank official said, prompting the bank to change its vendor. Mahindra Satyam, however, says that they did some work for the bank in the past but the scope of the new contract includes new services too. PSB had already automated many branches, but they were not interlinked so far. Wipro will e-enable about 923 branches of Punjab and Sind Bank with the Infosys’ Finacle software for banking.

Wipro Infotech has already rolled out core-banking solutions for UTI Bank, Oriental Bank of Commerce, Dena Bank and Vijaya Bank. For Punjab and Sind Bank, Wipro will procure both hardware and software. “The contract includes 24x7 management of the underlying IT infrastructure of the bank,” said Anand Sankaran, senior vice-president and business head, India and Middle East, Wipro. “We will also carry out commissioning and management of the data centre and the disaster recovery centre apart from providing service and support.”

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