One of India’s biggest software services exporter Infosys Ltd., has been chosen by India Post to “transform” its financial services platform.
The project is expected to cost Rs. 700 crore.
Infosys’ Finacle core banking and McCamish Insurance platforms are to be deployed for the project.
Infosys plans to train 35,000 personnel of India Post and implement an electronic content management system to process the lakhs of documents that are generated across the postal network.
India Post has a network of around 1.5 lakh post offices across the country and with Infosys by its side, as its technology and consulting partner; India Post plans to improve its delivery of financial products.
Infosys will also install 1,000 ATMs for India Post. The project, part of the ‘India Post 2012’ modernization programme, “aims at bringing transparency, agility, flexibility and scalability to India Post’s operations”, a joint statement said. “It is expected to reach out to about 200 million customers of India Post and would help improve efficiency,” it said.