It is not everyday that you find competitors providing solutions to the same client. But that’s exactly what happened on Monday.
Wipro Infotech will act as prime systems integrator for the Union Bank of India’s Rs 150-crore IT-rollout with Infosys providing the core-banking solution ‘Finacle’ and Internet banking solution ‘BankAway’.
THAT’S IT!: Wipro Infotech chairman Azim Premji (left) shakes hands with Infosys chairman NR Narayana Murthy at the rollout of Union Bank of India’s IT initiative in Mumbai on Monday.
(FE photo by Pradeep Kocharekar)
Infosys ‘Finacle’ platform for banks is well known. But seldom has it been along with the Wipro Infotech part of the story. Infosys could have done it as well. Wipro Infotech?
“We are fierce competitors, but this is also the age of specialisation. They are good at hardware, we at software. Co-opetition is the way out. And this is a fine example of a collaborative effort,” explained Mr Murthy, who then went on to narrate this incident. “I