Wipro Signs Multi-Year Digital Transformation Partnership with Finastra in the Middle East

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Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced a partnership with Finastra , a global provider of financial software applications and marketplaces, to drive digital transformation for corporate banks in the Middle East.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Thursday, December 15, 2022
Information
Tags: 
Software, Networks, Internet, Finance, Data Management, Professional Services, Technology, Fintech, Cloud, NSE, NYSE, Nature, Cyprus Securities and Exchange Commission, Security (finance), Engineering, Financial services, Ecosystem, BSE, Operation, Wipro, Data Analytics Acceleration Library, Cross-domain solution, BFSI, Automation, Limited, Partnership, Digital transformation, Cryptocurrency, Bank, Insurance, Designit, Finastra
Geotags: 
INDIA, UNITED ARAB EMIRATES, MIDDLE EAST, ASIA PACIFIC, AFRICA
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Organisation: 
WIPRO, WIPRO LIMITED
Stock Symbol: 
NYSE:WIT
MUMBAI:507685
NSI:WIPRO
Summary
Key Points: 
  • Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced a partnership with Finastra , a global provider of financial software applications and marketplaces, to drive digital transformation for corporate banks in the Middle East.
  • This partnership combines Wipros expertise, along with its fully-owned affiliates CAPCO and Designit , across Consulting, Digital Transformation, Customer Experience/User Experience (CX/UX), Data & Analytics, Cloud Migration/Adoption, Infrastructure, and Operations.
  • This exclusive partnership with Finastra will enable us to help clients transform into truly digital platform players.
  • Manish Joshi, Managing Director, Lending, APMEA, Finastra, said, As an already longstanding and important global partner, we are very pleased to extend our collaboration with Wipro to the Middle East.


Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced a partnership with Finastra, a global provider of financial software applications and marketplaces, to drive digital transformation for corporate banks in the Middle East. This multi-year engagement, aligned with the region’s vision to rapidly digitize and bolster cross-border trade, will make Wipro the exclusive implementation and go-to-market partner to deploy Finastra’s trade finance solutions in the region.

Together with Finastra’s market-leading product suite, Wipro will help banks transform and digitize the entire trade finance process, thereby enabling automation, optimization, faster time-to-market, and reduced customer response times. This partnership combines Wipro’s expertise, along with its fully-owned affiliates CAPCO and Designit, across Consulting, Digital Transformation, Customer Experience/User Experience (CX/UX), Data & Analytics, Cloud Migration/Adoption, Infrastructure, and Operations.

Mohamad Hamza, Regional Head of Banking, Financial Services, & Insurance (BFSI) – Middle East, Wipro Limited, said, “Corporate banks are key players in the sector and are significantly transforming the way they operate to cope with the ever-evolving industry. Re-imagining digital services to improve client experiences and rationalizing platform and operations centres to drive efficiencies are key priorities for the sector. This exclusive partnership with Finastra will enable us to help clients transform into truly digital platform players.”

Manish Joshi, Managing Director, Lending, APMEA, Finastra, said, “As an already longstanding and important global partner, we are very pleased to extend our collaboration with Wipro to the Middle East. The broad portfolio of services and deep experience offered by Wipro are a superb compliment to Finastra’s cutting-edge solutions. Leveraging this combination, we look forward to fueling the digital transformation of even more banks and financial institutions in the region to help them and their customers reap the benefits of digitalization.”

Harpreet Arora, Global Head of Banking, Financial Services, and Insurance (BFSI) Domain & Solutions, Wipro Limited, said, “Expanding our exclusive partnership with Finastra for trade transformation to the Middle East enables us to continue driving the digital transformation agenda for corporate banks and financial services companies; hence solidifying our position in the market. Wipro will support Middle Eastern banks in implementing Finastra's trade finance products, by bringing Wipro’s domain expertise and service delivery capability jointly with Finastra’s product strength.”

Wipro has several decades of strong presence and credibility in the Middle East, which is one of the six focus regions that comprise Wipro's Asia Pacific, Middle East, India, and Africa (APMEA) Strategic Market Unit. In line with the ambition to drive sustainable business growth and deliver higher value to clients in this region, Wipro continues to strengthen its consulting capabilities while focusing on innovation, talent, and ecosystem partnerships to offer experience-led transformation.

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 250,000 employees and business partners across 66 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.

Forward-Looking Statements

The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.

Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

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