Wipro wins key project from finance ministry

Wipro Infotech, the India and West Asian IT business of the $5-billion Wipro Ltd, has won a turnkey project from the Financial Intelligence Unit - India (FIU-IND) of the Union Ministry of Finance. A Wipro Infotech statement said here on Monday that the company will implement the FINnet (Financial Intelligence Network) project for FIU-IND.

The company did not disclose the project value or duration. With this project, the government intends to use technology for bringing efficiency into analysis of data. The project’s scope of services include development of a portal, datawarehousing, deduplication, analytical application and ERP implementation at the data centre, besides a disaster recovery site.

The FINnet project is expected to significantly enhance FIU-IND’s capabilities to collect financial information from various reporting entities, analyse it and disseminate actionable information to various law enforcement and intelligence agencies. The project is scheduled for completion in 24 months in different phases with a further service period of 36 months, Wipro Infotech said.

Wipro Infotech’s government vertical head Ranbir Singh said that Project FINnet would help enhance the efficiency and effectiveness of the FIU-IND’s core functions of collection, analysis and dissemination of financial information. “IT enablement of key processes will ensure substantially higher productivity, faster turnaround times and effective monitoring in all areas of FIU-IND’s work. We are confident this implementation will bring in more effective governance from both the economic and security point of view,” Singh said.

Bangalore-headquartered Wipro Infotech provides IT products, software services and consulting services to customers in India and West Asia. It has a network of 22 offices and 170 service locations in India, besides regional offices across West Asia.