Bangalore: Global IT major Hewlett-Packard (HP) today (Feb 25, 2004) bagged a $ 150 million contract to provide IT infrastructure and applications over 10 years to public sector Bank of India, which HP said is its largest outsourcing contract in Asia Pacific.

"Bank of India has selected HP as its preferred supplier of IT infrastructure and applications for a 10-year outsourcing contract valued over $ 150 million," a company statement said.

HP will implement and manage a core banking solution (CBS) across 750 branches of Bank of India under the contract encompassing IT-enabled transformation in a fully outsourced model.

The CBS solution is based on Infosys' Finacle application and HP will also implement and manage a data warehousing and document imaging solution and provide integrated channel management including telebanking, Internet banking and ATM.

"The contract also envisages building and managing a datacentre, disaster recovery site, help desk and call centre, besides supply and managing IT hardware to all the 750 branches," HP India Pvt Ltd President Balu Doraiswami said.

"HP will help us evolve an adaptive infrastructure, ensuring the most cost-effective utilisation of IT. We want to align our IT strategy with business strategies which will help us serve our customers better," Bank of India Chairman and Managing Director M Venugopalan said.