EbixCash Private Limited, a subsidiary of Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare, and e-learning industries today announced that India’s second-largest Government-owned bank - Punjab National Bank (PNB), has selected EbixCash as its Network Integrator (NI) for designing, monitoring and managing its Enterprise Wide Area Network (EWAN) across India for a period of 3 years beginning July 1, 2021. The agreement involves the deployment of 1000+ dedicated EbixCash employees to assess, optimize and manage the EWAN, Data Center, and Disaster Recovery Sites (DRS) spread pan-India across the PNB headquarters, 24 zonal offices, 161 circle offices, and 16,250 branches.
With more than 180 million customers country-wide, PNB is a leading banking institution with a global expanse and the 2nd largest Government-owned bank in India. PNB has emerged as a leading financial institution following its merger with Oriental Bank of Commerce and United Bank of India and the addition of nine Regional Rural Banks under its aegis. PNB is an early adopter of technology and a market leader in providing technology-driven, customer-centric products and services. All the branch operations are performed through its Centralised Core Banking Solution (CBS). The CBS covers all the branches, ATM’s and SOLs (Service Outlets), which are connected to the Data Centre and DRS through the country-wide EWAN.
Robin Raina, Chairman, President & CEO Ebix Inc, said, “This is a significant and highly prestigious win for EbixCash, to have been selected by one of the largest banks in the country, to service their networking needs. PNB is a technology-driven bank that has always shown the way to other financial institutions in terms of its use of technology. We see this as a great step forward for our RCS IT consulting division, in terms of both top-line generation and demonstrating its subject matter expertise. Also, this contract reinforces EbixCash’s positioning as India’s only end-to-end financial services player, with a disruptive pioneering position in back-end technology solutions as well as in the front end, distribution, exchange and consulting arenas.”