Vendor Analysis
published on Sep 17, 2013
Report Overview:
This NelsonHall assessment analyses Wipro's offerings and capabilities in capital markets BPO. Wipro is one of a number of capital markets BPO companies analyzed in NelsonHall's comprehensive industry analysis programs.
Who is this Report for:
NelsonHall's Retail Banking BPO Vendor Assessment for Wipro is a comprehensive assessment of Wipro's retail banking BPO (RB BPO) offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for CM BPO RFPs
- Vendor marketing, sales and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector
Scope of this Report:
The report provides a comprehensive and objective analysis of Wipro's capital markets BPO offerings, capabilities, and market and financial strength, including:
- Identification of the company's strategy, emphases and new developments
- Analysis of the company's strengths, weaknesses and outlook
- Revenue estimates
- Analysis of the profile of the company's customer base including the company's targeting strategy and examples 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.
Key Findings & Highlights:
Wipro has provided IT services to capital markets firms since the mid-1990s. Soon after the Spectramind acquisition Wipro decided to enter the capital markets BPO business in order to cross-sell its capital markets clients (Spectramind had no capital markets BPO business). Wipro's capital markets BPO services were started in 2006 when a major European investment bank awarded a contract to Wipro for processing of asset clearing and settlements. Over time Wipro expanded the relationship to include reference data management, corporate actions and exchange traded derivatives processing.
Wipro's CM BPO services are focused on back office services specifically data operations, reconciliation and risk management.
Wipro BPO has seven delivery centers:
- Hyderabad
- Delhi
- Chennai
- Pune
- Mumbai
- Bangalore
- Shanghai (China)
Wipro's primary targets are:
Global investment banks headquartered in the U.S. and U.K. (four of its clients are top-ten global banks)
- Large retail brokerage firms
- Market infrastructure providers
- Existing CM clients of Wipro's IT services.
Wipro targets U.S.- and U.K.-headquartered global banks for CM BPO services, but supports them around the globe. In the future Wipro will target tier 2/3 banks only with productized offerings, such as reconciliation.