· To invest over Rs. 300 crores in Technology over next 5 years, sourced from IT giants like Wipro, Edgeverve (a subsidiary of Infosys), Oracle, Microsoft, and Cisco among others.
· A team of more than 125 IT professionals will manage the IT department for the proposed bank
18th May 2016 – Mumbai: Ujjivan Financial Services Limited (BSE:539874: NSE: UJJIVAN), took another decisive step towards its proposed small finance banking operations by earmarking more than Rs. 300 crores, to be invested for implementing & integrating its Core Banking Technology over the next 5 years.
It has brought together an impressive ensemble of world class IT majors. The best of the breed technology solutions providers for its upcoming bank IT infrastructure include Finacle Core Banking from Infosys, CRM Solution from CRMNext, Mobile Unified Platform from i-Exceed, Sysarc Loan Origination System, ADF from Pragmatics, SAS complete suite for AML, ALM FTP and Risk & Governance, Ramco HRMS, Oracle Financials, Oracle Hyperion, IBM Cognos for DW and BI, IBM Filenet for Document Management and Workflow systems, IBM Middleware and IBM Enterprise Service Bus to integrate all systems together.
All these systems will be in addition to its existing systems which includes BR.net and mobility solutions like Artoo and Truecell.
Core Banking and all other systems will run on most secure and robust servers like Oracle Sun Super Cluster, CISCO Blade Servers and CISCO Routers and Switches.
Mr Deepak Ayare, Chief Information Officer, Ujjivan Financial Services Ltd. said, “To support the high volume business and to meet security and compliance requirements of different regulatory authorities, strong and secure systems are required at the core. We have selected all proven softwares in Banking Technology after carefully evaluating each system for the specific requirements. We are creating a strong IT backbone for the upcoming Small finance bank.”
Ujjivan has appointed Wipro as the Systems Integrators to implement different Banking Technology Systems for its proposed Small Finance Banking operations.
Wipro will setup NOC (Network Operation Centre) & SOC (Security Operation Centre) for Ujjivan and will implement all systems and support to manage this technology with Ujjivan IT Team for next 5 years. More than 125 strong IT professionals will be managing the technology department for the upcoming bank. Wipro will implement Finacle core-banking system from Infosys integrated with CRM Solution and Mobility Solutions.
Ujjivan will be focusing highly on mobility solutions and will implement mobile technology using mobiles and handheld devices to reach the rural customers. Even today Ujjivan is using the latest mobile technology for customer acquisition, customer support and collection management for its current MFI business.
Speaking on the impact of this development, Mr Ittira Davis, Head of Transition, Ujjivan Financial Services Ltd. said, “It is our desire that from the very first day, our customers should experience the best in class technology, security and mobility. We are endeavouring for our customers to feel comfortable banking with us from wherever they are without the constraints of time and space. We are confident our partnership with Wipro will help deliver this completely.”
Keeping in mind the need for high security and top of the line disaster management, all IT infrastructure will be hosted in IBM Data Centre at Mumbai and the Disaster Recovery Data Centre will be hosted in Airtel Data Centre at Bangalore. Ujjivan will also be hosting a 3 way Data Centre DC, DR and NDR (Near Disaster Recovery).
Added, Mr. Andy Dey, Senior Vice President and Head of Sales and Delivery, Edgeverve: “Building on its successful track record of serving the economically poor, Ujjivan’s Small Finance Bank initiative will become a significant brand in this sector. As the market leaders in banking technology solutions, we are committed to enabling the success of Ujjivan’s small finance bank.”
Ujjivan’s strong management team, with an equally strong Consultancy team from EY and good connection with technology partners which includes names like IBM, Oracle, Cisco, SAS, Microsoft, EMC, Craft Silicon and Artoo will support the company to setup a strong technology driven bank for the future.