Mumbai: Union Bank of India has tied up with Infosys Technologies and Wipro Infotech for implementing its Rs 150-crore information technology (IT) initiatives.
While Infosys will provide the core-banking solution, Wipro Infotech will be responsible for the end-to-end implementation and integration of the banks centralised IT system.
Union Bank chairman and managing director V Leeladhar says the bank has adopted a consortium approach through the appointment of several software companies, including Wipro and Infosys, for the banks IT plan. "Over the next three years, the bank plans to spend around Rs 150 crore over its IT strategy."
The solutions to be integrated include: Wipro for Finacle and its Internet banking product BankAway; Infosys for the core-banking solution; the Chennai-based FSS for the ATM switch (Base 24); BK Solution for tele-banking systems; and Sun Microsystems for the hardware. The bank proposes to roll out the core banking solution to around 20 branches in this calendar year and thereafter roll it out to other centres as well.
Union Bank is targeting 500 branches in 36 months and 1,000 branches in 60 months. The solution includes support of 200 ATMs apart from other IT-enabled products and services such as Internet-banking and tele-banking.
Say Infosys Technologies chief mentor N R Narayanamurthy: "These are the days of specialisation while Wipro has tremendous experience in hardware, Infosys has the best software package."