Infotech Lead India: Wipro Infotech has implemented core banking solution (CBS) at five co-operative banks under National Agriculture Bank for Rural Development (NABARD).
Wipro’s Data Center is hosting the application.
Wipro is currently implementing the project for co-operative banks across Bihar, Uttar Pradesh, Maharashtra, Punjab, and Haryana.
In the phase one of the project, Wipro Infotech will cover State Co-operative Banks (SCB) and District Co-operative Banks (DCB) of 10 states. As part of the project, Wipro will computerize 76 banks with approximately 2790 branches.
Deployment of CBS at co-operatives will assist customers in rural areas to benefit. Remittance of funds will be done easily. Banks will be able to provide latest e-banking facilities like ATM facility, utility bill payment, mobile banking, e payments etc. to rural customers.
This implementation will help banks expand their local reach and improve their volume of business while reducing cost of operations by automating business processes and providing a single accounting platform.
The comprehensive teller functions provided by CBS will enable quick customer service. The banks will further benefit from this implementation as the solution will provide comprehensive Investment (access to financial markets) and Borrowing (from Govt. RBI, NABARD, SCB, etc.) functions, enabling monitoring and accounting for Investments and Borrowings.
“We are pleased to have successfully crossed the first milestone of this institutional development initiative undertaken by NABARD to strengthen the rural credit delivery system. Considering that the recent regulatory reforms by RBI are expected to make the Indian banking scenario more competitive, this initiative will equip co-operative banks with cost effective technology and robust infrastructure to support their growth and help them keep pace. More importantly it will change the face of rural banking by making e-banking facilities available to the rural customer,” said Anand Sankaran, senior vice president & business head, Wipro Infotech, & Global Business Head – Infrastructure Services, Wipro.