NEW DELHI: Wipro Infotech, India and Middle East IT business unit of Wipro, said it has implemented the core banking solution (CBS) for five cooperative banks.
The application is hosted in the Data Center and Wipro have the support of five years, Wipro said in a statement.
No financial details were disclosed. Under the agreement, Wipro is implementing the project of cooperative banks coming in the National Agricultural Bank for Rural Development (NABARD) through the states of Bihar, Uttar Pradesh, Maharashtra, Punjab, Haryana and.
The first phase will cover State Cooperative Banks (SCB) and the district cooperative banks (DCB) from 10 states and Wipro computerization of 76 banks with 2,790 branches around.
Using the CBS, cooperatives can facilitate electronic payments to people in rural areas with ease, and provide electronic banking services such as ATMs, payment of utility bills, mobile banking, etc.
Banks will benefit from the application, the solution will bring the total investment (access to financial markets) and debt (government, RBI, Nabard and SBC) functions, which allows tracking and accounting for investments and loans, Wipro said.
Given that recent regulatory reforms RBI is expected to banking scenario in India more competitive, this initiative will provide credit unions with cost-effective technology and solid infrastructure to support growth and help them keep pace, "Wipro Infotech Senior Vice President and Director of Business and Global Business Director of Wipro (Infrastructure Services) Anand Sankaran said.More importantly it will change the face of rural banking, making banking facilities available to the rural customer, he added.
The application is hosted in the Data Center and Wipro have the support of five years, Wipro said in a statement.
No financial details were disclosed. Under the agreement, Wipro is implementing the project of cooperative banks coming in the National Agricultural Bank for Rural Development (NABARD) through the states of Bihar, Uttar Pradesh, Maharashtra, Punjab, Haryana and.
The first phase will cover State Cooperative Banks (SCB) and the district cooperative banks (DCB) from 10 states and Wipro computerization of 76 banks with 2,790 branches around.
Using the CBS, cooperatives can facilitate electronic payments to people in rural areas with ease, and provide electronic banking services such as ATMs, payment of utility bills, mobile banking, etc.
Banks will benefit from the application, the solution will bring the total investment (access to financial markets) and debt (government, RBI, Nabard and SBC) functions, which allows tracking and accounting for investments and loans, Wipro said.
Given that recent regulatory reforms RBI is expected to banking scenario in India more competitive, this initiative will provide credit unions with cost-effective technology and solid infrastructure to support growth and help them keep pace, "Wipro Infotech Senior Vice President and Director of Business and Global Business Director of Wipro (Infrastructure Services) Anand Sankaran said.More importantly it will change the face of rural banking, making banking facilities available to the rural customer, he added.
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