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Bangalore, Sept 6

WIPRO Infotech announced on Tuesday that it has signed a contract with Karnataka Bank for the implementation of a solution for asset liability management.

Wipro will deploy Oracle's financial services application for the purpose, which will become operational early next year, a company press release said.

The solution would help Karnataka Bank improve reporting, performance management and corporate governance, the release said.

"We are eagerly awaiting the implementation of this solution, since it will help us generate standard ALM reports such as the Static Liquidity Report, Interest Rate Sensitivity and Dynamic Liquidity Reports. It will also help us generate cash flow analytics and other risk analytics," said Mr Ananthakrishna, Chairman, Karnataka Bank.

Wipro Infotech's Vice-President for International Operations, Mr Rajat Mathur, said: "We will be installing and deploying Oracle's Risk Manager application at Karnataka Bank. The Risk Manager application will be a foundation for a comprehensive risk management system. The solution will provide reliable data for dimensional analysis by consolidating and reconciling data from various data sources."

The scope involves mapping of portfolios in corporate banking, retail banking and treasury areas on the Oracle Financial Data Model. The actual design, development, deployment and extraction of required data from source systems will be the responsibility of Wipro Infotech, the release said.

(This article was published in the Business Line print edition dated September 7, 2005)
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