Four information technology majors, Tata Consultancy Services, Wipro, Hewlett-Packard, and IBM, are in race for state-owned Dena Bank's Rs 200 crore core banking project. | |
| The bank has planned a 100 per cent outsourced model of core banking for 850-900 branches, chairman and managing director M V Nair said on Tuesday. |
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| "We have shortlisted these four companies (TCS, IBM, Wipro and HP) as the prime vendors, and are currently conducting a technical evaluation," said Nair. "Based on that, we will shortlist further, and then open for commercial bids." |
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| The entire project, including its software, hardware requirements, implementation, deployment, security management, will be outsourced to the vendor, which wins the bid. |
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| The bank, which was advised by Ernst & Young, plans to roll out the core banking solution in three stages. |
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| "In the first (stage), we will roll out the CBS in 200 branches, which will cover 60-65 per cent of our business," Nair said. |
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| In the second stage, the bank plans to scale up the project to cover another 300 branches, bringing 90% of its business under core banking. In the third stage, its rural branches are to be core-banked, which includes the remaining 350-400 ranches. |
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