IT major Wipro Ltd said it has inked a 10-year contract with Punjab and Sind Bank (PSB) to enable centralised banking operations in branches of the public sector lender.

‘Coupled with our deep domain knowledge, over two decades experience in the IT space and knowledge of global best practices, we are confident PSB will set new standards in banking services and customer relationship management in the years to come,’ Wipro Senior Vice President and Business Head (India and West Asia) Anand Sankaran said.

However, the company did not disclose the financial details of the deal.

The partnership assumes significance in view of the Bank’s target to become a Rs 1,00,000 crore bank by 2011 through increasing its branch networks and services.

‘The vision of the Bank is to leverage technology to achieve business transformation. We are re-engineering our IT processes and applications to deliver superior quality of service and products to accelerate business growth and achieve operational excellence,’ PSB CMD Sardar G S Vedi said.

As part of the programme, Wipro will also undertake commissioning and management of data centre and disaster recovery centre, and service and support for the Bank.

Established in 1908 in Amritsar, PSB has over 917 branches and extension counters spread across the country.

UNI