To provide core banking and allied solutions, setup data centre and disaster recovery sites
New York, USA and Bangalore, India – October 27, 2021: Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, announced that it has secured a multi-year contract from Kerala State Co-op Bank (also known as Kerala Bank), a scheduled state co-operative bank in India, established by the Government of Kerala.
Kerala Bank currently runs 15 different core banking environments with five different core banking solutions. As part of this multi-million-dollar strategic engagement, Wipro will implement a consolidated, common core banking system for the bank, provide over twenty allied solutions, aimed at streamlining technology adoption and enabling a superior customer experience. Wipro will also set up a Data Centre, Disaster Recovery Centre, Near DR (Disaster Recovery) and command centre, implement the latest Reserve Bank of India cybersecurity frameworks, and provide facility management services for a period of five years.
Sanjay Jaireth, Head - BFSI India (SRE), Wipro Limited said, “Wipro has been engaged with Kerala Bank and is providing core banking services to multiple District Co-operative Central Banks (DCCB) for many years. This extensive experience uniquely positions us to deliver this complex program which redefines customer experience while ensuring security for clients of Kerala Bank.”
“We see IT modernization as the key driver for achieving business transformation and growth. An integrated IT landscape comprising of best-in class Core Banking and allied solutions will not only enable seamless information flow but will also help achieve high performance and scalability in our operations. We are delighted to be partnering with Wipro for this long-term engagement, given Wipro's consistent track record, leadership position in India and strong IT and people processes,” said Shri Rajesh AR, GM - IT & Digital Banking, Kerala Bank.
Wipro is currently engaged with over 100 DCCBs across 12 states in India. With over 25 years of experience in providing technology services & solutions to the Banking industry, Wipro has consolidated its position across all Banking segments in India, including Schedule Commercial Banks, Regional Rural Banks, Co-operative Banks and the latest Small Finance and Payment Banks.
India is one of the six focus regions that comprise Wipro’s APMEA (Asia Pacific, Middle East & Africa) Strategic Market Unit. With several decades of a strong presence in the Indian market, long standing customer and partner relationships, Wipro is widely recognized for its technology leadership, innovation and contribution towards social good.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 220,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
Media Contact:
Sandeep Deb Varman
Wipro Limited
Forward-Looking Statements
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry. The conditions caused by the COVID-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers’ ability or willingness to purchase our offerings, delay prospective customers’ purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
'The information contained in this electronic message and any attachments to this message are intended for the exclusive use of the addressee(s) and may contain proprietary, confidential or privileged information. If you are not the intended recipient, you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately and destroy all copies of this message and any attachments. WARNING: Computer viruses can be transmitted via email. The recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email. www.wipro.com'
