Public Sector Bank UCO Bank has awarded IT and business transformation service provider Wipro Infotech signed a 7 year total outsourcing contract with five Regional Rural Banks (RRBs).

The contract is for implementing a Core Banking Solution (CBS) across 803 branches of RRBs under UCO Bank’s sponsorship.

With this initiative, all five RRBs would come under the ambit of core banking, thereby ensuring uniformity in technology platform and related business processes for improved business efficiency and customer care.

The scope of services includes building, hosting and managing the underlying infrastructure at the Data Centers, in addition to implementing the Finacle CBS across the five RRBs in question.

Wipro would also provide network management and user training across all 803 branch locations as a part of the Total Outsourcing relationship.

The CBS would be executed on an Application Service Provider (ASP) model where Wipro would get paid on a monthly pay-per-use basis. Roll out of all branches is expected to be completed by September 2011.