News

Bank of India outsources core banking to HP

February 29, 2004

BANGALORE, India - In one of the biggest IT deals in India, HP has signed a 10-year outsourcing contract from Bank of India (BoI), valued at $150 million.

According to a Times of India report, HP will implement and manage a core banking solution across 750 branches of BoI.

HP will also implement and manage a data warehouse and document imaging operations and provide integrated channel management including ATM, Internet and telephone banking. The contract also mentions building and managing a data center, disaster recovery site, help desk and call center, according to the Times.

The solution is based on an Infosys Finacle application. According to the Times, Finacle core banking has the largest installed base inIndia.