Wipro Signs Strategic Contract With Financial Intelligence Unit-India

Wipro Infotech has won a turnkey project from the Financial Intelligence Unit – India (FIU-IND), Ministry of Finance, Government of India.

As part of the project, Wipro will implement FINnet (Financial Intelligence Network) for FIU-IND. The scope of services includes development of portal, Data Warehousing, Deduplication, Analytical Application and ERP implementation at the data centre and disaster recovery site. The project is scheduled to be completed in 24 months in different phases with a further service period of 36 months.

Project FINnet would greatly enhance the efficiency and effectiveness in the FIU-IND’s core function of collection, analysis and dissemination of financial information. IT enablement of key processes would ensure substantially higher productivity, faster turn-around time and effective monitoring in all areas of FIU-IND’s work.

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The project assumes significance in the light of growing economic crimes within the country and the government’s efforts to arrest it. With this project, the government intends to use technology for bringing efficiency into analysis of data.

Arun Goyal, Director FIU India, said, “Wipro has been selected through an open and stringent bidding process. We are keen on timely implementation of the project as it will significantly enhance FIU-IND’s capabilities to collect financial information from various reporting entities, analyse it and disseminate actionable information to various law enforcement and intelligence agencies.”