Wipro and Finastra to push banking digital transformation

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Bangalore, India: Wipro and Finastra have formed a partnership to help corporate banks across Asia-Pacific push digital transformation. Companies will create a unique offering that combines Wipro’s services catalogue with Finastra’s front-to-back trade finance and cash management solutions.

Finastra is one of the largest financial software solutions providers serving the entire financial services industry.

A recent Finastra study showed that corporate banking clients have shifted their focus towards real-time execution capabilities, access to online platforms, and value-add services.

In response, banks are moving away from the traditional relationship management model to become digital platform players that can meet client needs in a faster, flexible and more agile way.

The partnership between Wipro and Finastra will help banks make this transition quickly through access to Wipro’s service portfolio, from consulting and digital to infrastructure and operations, and Finastra’s solutions – Fusion Trade Innovation and Fusion Cash Management.

“Wipro’s mature portfolio of services and deep experience in implementing Finastra’s solutions are a perfect complement to our offering, making it a natural partner for us in APAC,” said Luc Hovhannessian, MD – Asia Pacific, Finastra

“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,” said Hovhannessian.

“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,” said Harpreet Arora, VP – BFSI Domain and Consulting Head, Wipro.

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