Wipro - FinTech Services in Banking BPS
Who Is This Vendor Assessment For?
NelsonHall's Retial Banking BPS Vendor Assessment for Wipro is a comprehensive assessment of Wipro's FinTech offerings and capabilities for the banking industry designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of FinTech services and identifying vendor suitablity for banking industry (consumer banking, commerical banking, and capital markets) FinTech services RFPs
- Vendor marketing, sales and business managersloking to benchmark themselves agianst their peers
- Financial analysts and investors specializing in the support services sector.
Key Findings & Highlights
This NelsonHall assessment analyzes Wipro's offerings and cawpablities in FinTech services for the banking industry. Wipro is one of a number of banking services vendors analyzed in NelsonHall's comprehensive industry analysis program.
Wipro began developing it FinTech services capablilities in 2012 as a response to its perception that the financial services IT market was changing. Wipro began to respond to the new techonologies available and the increased compliance requirements by developing solutions for big data dna NLG internally. By 2014, it had created thee HOLMES cognitive internally in the Wipro customer service desk offering.
By 2014, Wipro had formalized its response to the changes in the market, identifyin three key changes:
- Shift in customer expectatations: the rise of the millennial generation and the acceptence by the public of moblie technologies made the purchase of financial services a decison about experiencce, not products.
- Compliance requirements permanently increaed: for an institution to meet these requirements efficiently it must use advance technologies
- Advanced technologies: a new generation of technologies was poised to be commericalized, which could address the challenges which banks are facing.
Wipro has developed its FinTechf services capablities to meet financial industry needs in two initiatives:
- Retail and commerical banking: the focus is on consulting, design and deployment services for FinTech to provide an integrated range of services
- Capital markets: the focus is on a few industry processes and creating cloud delivered micro-utilities. Capital markets is not focused on consulting, design and development for its FinTech services because its capital markets clients are primarily global custodians with developed FinTech strategies.
The financial services business uit, banking and capital markets, is responsible for FinTech services, to develop it with domain-specific capabilities for the FS industry
Scope of the Report
The report provides a comprehensive and objective analysis of Wipro's FinTech services for banking offerings, capablities, and market and financial strength, including:
- Identification of the company's strategy, emphases and new developments
- Analysis of the company's strenghts, eaknesses and outlook
- Revenue estimates
-Analysis of the profile of the company's customer base including the comapny's targeting strategy and example of current contracts
- Analysis of the company's offerings and key service components
- Analysis of the company's delivery organization including the location of delivery locations
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