Announcement under Regulation 30 (LODR)-Press Release / Media Release

Wipro, Finastra partner to power digital transformation for corporate banks in India

3 days ago

PRESS RELEASE

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Positive 14
  • Wipro, Finastra partner to power digital transformation for corporate banks in India BANGALORE, India – Sept. 20, 2022 – Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, and Finastra, a global provider of financial software applications and marketplaces, today announced a partnership in India to help corporate banks accelerate digital transformation by deploying Finastra’s leading solutions.

  • This partnership combines Wipro’s expertise across consulting, digital, infrastructure and operations with Finastra’s cutting-edge solutions to deliver modern API enabled platforms for banks to innovate, streamline and digitize core trade finance processes, while reducing cost overheads.

  • This multi-year partnership makes Wipro the exclusive implementation and go-to-market partner for all banks in India for Finastra’s Fusion Trade Innovation and Fusion Corporate Channels.

  • With our exclusive partnership with Finastra, we can help our banking clients transform into truly digital platform players in trade and supply chain finance, with the ability to anticipate end-customer needs and respond in a much more agile and flexible manner.

  • We are excited to bring together Wipro’s deep domain expertise in Banking with Finastra’s leading product suite.”

  • Manish Joshi, Managing Director, Lending, APMEA, Finastra, said, “Wipro’s diverse service portfolio and deep experience working with clients in India makes them an ideal partner for Finastra.

  • India is a key growth market for Finastra and working together with Wipro will enable us to rapidly extend our reach in the country, enabling our solutions to help even more organizations realize the benefits of digital transformation.”

  • Edward Sweigart, Vice President, Global Partner Ecosystem, Finastra, said, “Wipro has long been a key global partner for Finastra, with significant and broad experience built in that time.

  • Banks and financial institutions will now be able to leverage the combination of this experience and Finastra’s leading solutions, which will help them to transform, grow, and better serve their customers.”

  • Harpreet Arora, Global BFSI Domain & Solutions Head, Wipro Limited, said, “The strengthening and expansion of our partnership with Finastra is fundamental to driving the digital transformation agenda for corporate banks and financial services companies in India.

  • Wipro’s acquisition of Encore Theme Technologies, a specialist in implementing Finastra’s trade finance solutions, continues to augment our deep and differentiated capabilities, and this partnership will solidify our presence across Asia Pacific further.”

  • Wipro has several decades of strong presence and credibility in the India market.

  • 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.

  • 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.

Negative 2
  • 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.

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Important keywords detected (20+)

wipro (28)
finastra (18)
india (17)
banks (9)
solutions (9)
digital (8)
time (8)
statements (8)
finance (6)
transformation (6)
corporate (6)
leading (6)
services (6)
global (6)
partnership (6)
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market (5)
partner (5)
consulting (5)

Organizations identified (9+)

Wipro (18)
Wipro Limited (6)
WIPRO (3)
NYSE (3)
APMEA (2)
Global Partner Ecosystem (1)
Encore Theme Technologies (1)
the Wipro Foundation (1)
Work® India (1)

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