CIO Insider

CIOInsider India Magazine

Separator

Wipros and Finasta to Digitize Corporate Banks Across Asia-Pacific

Separator

Wipro Limited, a leading global information technology, consulting, and business process services company, and Finastra, the largest pure-play software vendor serving the entire financial services industry, have announced a partnership to aid corporate banks across Asia-Pacific to accelerate their digital transformation.

Wipro's complete services catalogue will be combined with Finastra's front-to-back trade finance and cash-management solutions to create a unique offering.

Corporate banking clients have moved their focus to real-time execution capabilities, access to online platforms, and value-added services, according to a recent Finastra research. As a result, banks are abandoning the old relationship management paradigm in favour of becoming digital platform players capable of meeting customer needs in a more timely, flexible, and agile manner.

“Wipro's established portfolio of services and strong experience in deploying Finastra's solutions are a perfect addition to our offering, making it a natural partner for us in APAC,” said Luc Hovhannessian, Finastra's Managing Director for Asia Pacific.

In the words of Hovhannessian, “financial institutions have never been more crucial to innovate digitally, yet transaction banking is an area where many banks are still catching up”.

Wipro's service portfolio, from consulting and digital to infrastructure and operations, as well as Finastra's flagship products - Fusion Trade Innovation and Fusion Cash Management, will assist banks accomplish this transition quickly.

“This partnership is in line with our continued efforts to strengthen our presence in Asia-Pacific and drive digital transformation. Having recently acquired Encore Theme Technologies, a specialist in implementing Finastra’s trade finance solutions, this agreement is a logical next step in deepening our mutually beneficial partnership”, adds Harpreet Arora, Vice President, BFSI Domain & Consulting Head, Wipro Limited.

He further went on to say that “this strategic partnership is the continuation of years of collaboration with Encore Theme Technologies, now part of Wipro, creating an offering that will help banks accelerate their digital transformation, driving competition and increasing innovation in the industry”.

“This partnership is in line with our continued efforts to strengthen our presence in Asia-Pacific and drive digital transformation. Having recently acquired Encore Theme Technologies, a specialist in implementing Finastra’s trade finance solutions, this agreement is a logical next step in deepening our mutually beneficial partnership”, adds Harpreet Arora, Vice President, BFSI Domain & Consulting Head, Wipro Limited.

Wipro recently joined with Citrix Systems, Inc., and Hewlett Packard Enterprise (HPE) for the same purpose, but in terms of business solutions, to provide enterprises with a reliable solution that would speed up remote working and transform workplaces.

The solution delivers a streamlined approach for businesses, which is done through a subscription-based pay-per-use platform that is agile, scalable, and offers a seamless cloud experience.

The mission was to help customers accelerate their digital transformation initiatives and work toward building a resilient business that can thrive as a hybrid workplace in the new normal.

To handle workloads and develop stable, high-performance virtual compute environments, the partnership will leverage Citrix Virtual Apps & Desktop Services with a zero-trust security posture, as well as HPE's purpose-built Virtual Desktop Infrastructure (VDI), through HPE GreenLake cloud services.

Current Issue
TheDataTeam: Presenting Cadenz - An AI-Powered Enterprise CDP