Infosys Ltd., the second biggest software services exporter, whose business in India only accounts for a small fraction of its overall business, has been chosen by India Post to “transform” its financial services platform. The project is expected to cost Rs. 700 crore.
Infosys is to deploy its Finacle core banking and McCamish Insurance platforms for the project. The company will also train 35,000 personnel of India Post and implement an electronic content management system to process the millions of documents that are generated across the postal network.
India Post has chosen Infosys as its technology and consulting partner to integrate its delivery of financial products across its network of 1.5 lakh post offices across the country, an Infosys release stated.
The company will install 1,000 ATMs for India Post. The project, part of the ‘India Post 2012’ modernisation programme, “aims at bringing transparency, agility, flexibility and scalability to India Post’s operations”, the statement said. It is expected to reach out to about 200 million customers of India Post and would help improve efficiency, it said.