Banking technology firm NCR has bagged multi-year IT managed services contract from Indian public sector lender Punjab National Bank (PNB).

Under the terms of the agreement, NCR will provide IT support services to a significant section of PNB’s global network of 3,600 ATMs.

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With nearly 40 million debit card holders, PNB has the sixth largest ATM network in India.

A PNB official said: “We are impressed with NCR in terms of innovation, quality of service provided and its commitment to us and our customers to improve availability of our banking services, drive operational efficiency and deliver proactive service.

“We are confident in NCR’s services approach and that the company will serve our needs well under this agreement.”

PNB managed services contract details:

The three-year agreement requires NCR to offer incident management, electronic journal pulling services, cash management, content management & software distribution services.

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The scope of the contract also includes site management & maintenance services and general housekeeping and upkeep services.

NCR vice-president for managed services Bob Tramontano said: “The expectation of an always-on, omni-present business model is now a given, and financial institutions need to ensure that their banking services are available to their customers when they want.

“Our suite of managed services will help PNB to reduce the high costs of multiple service providers, scale support quickly and ultimately, decrease downtime through high-value managed services.”

Headquartered in New Delhi, PNB has more than 80 million customers. It maintains around 6,692 branches with presence in nine countries.

In February, the bank was hit by a $1.77bn fraud in one of its branches in Mumbai making it one of the biggest financial scandals in India.