Information technology services (IT) major Wipro has announced that it has completed the implementation of core banking solutions for Kaveri Grameena Bank.
The rollout is part of the bank’s merger with Pragathi Krishna Gramin Bank.
The merger, which took place in April 2019, led to the formation of Karnataka Gramin Bank, a regional rural bank (RRB) sponsored by Canara Bank.
Ballari headquartered Karnataka Gramin Bank will now leverage the core banking solution platform to deploy state-of-the-art technology in all its 1,167 branches, the company said in a statement.
Bengaluru-based Wipro said it has completed the migration at all 479 branches and 8 regional offices of Kaveri Grameena Bank. It was also responsible for addressing maintenance and post-migration developments since the deployment began in December 2019.
Wipro had earlier provided technology-driven solutions for 688 branches of Pragathi Krishna Gramin Bank.
“The core banking solution implementation will help the RRB become more agile, deliver digital services to customers faster and strengthen its position in the marketplace.” Sanjeev Singh, senior vice president and business head for India – state-run enterprises, Wipro Limited said.
Banking, financial services and insurance or BFSI has traditionally been a revenue mainstay for the big four IT services companies in India. Tata Consultancy Services (TCS), Infosys and Wipro generated 30.4%, 31.5%% and 30.9%% of their revenues, respectively, from the BFSI sector in Q3 of the financial year 2019-2020 (FY20).