UCO Bank Signs Pact

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KOLKATA, INDIA (GaeaTimes.com)- In a recent development Wipro Infotech has signed a pact with 5 regional rural banks supported by noted public sector Bank, UCO Bank. The outsourcing contract is valid for a period of 7 years as it has been reported. As per the contract, UCO Bank will help in implementing core banking solution across the 803 branches of these regional rural banks. These regional rural banks are Kalinga Gramya Bank, Mahakausal Kshetriya Gramin Bank, Paschim Banga Gramin Bank, Bihar Kshetriya Gramin Bank and Jaipur Thar Gramin Bank. The implementation of core banking will ensure that thee banks branches will be able to process data and perform transactions across a similar technology platform. The customer care and business efficiency of these banks will also increase.

UCO Bank’s executive director Ajai Kumar said that the importance of regional rural banks has increased in recent times. The implementation of Core banking in coloration with Wipro Infotech will enable the UCO Bank sponsored RRBs to offer better service to their customers. Wipro will take care of the network and it will also provide the training to the staffs across the 8000 plus branches of these banks. The core banking solution will be implemented on an ASP or Application Service Provider model. The completion of the work will be done by September 2011 as it is being expected.

The Business Head and Senior Vice President of Wipro, India, Africa and Middle East, Anand Sankaran said that the collaboration with UCO bank is a healthy development. Wipro managed to emerge winner after beating other contenders for this contract.