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Andy Efstathiou

Andy is the Banking Sourcing Research Director at NelsonHall where he has global responsibility for Retail and Commercial Banking BPS, Capital Markets BPS, and RPA, AI, and FinTech services in Banking, including consulting, design & deploy, and operations support.

Wipro– Digital Bank Transformation

Vendor Analysis

by Andy Efstathiou

published on Nov 27, 2019

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Report Overview:

This NelsonHall assessment analyzes Wipro's offerings and capabilities in Digital Bank Transformation. 

Who is this Report for:

NelsonHall’s Digital Banking Services Vendor Assessment for Wipro is a comprehensive assessment of Wipro’s Digital Banking Services offerings and capabilities designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for Digital Banking Services 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 Digital Banking services 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 began developing its digital banking capabilities in 2009/2010 with an engagement for a bank that had just recently been spun out of a large industrial company. The bank had started many decades previously as the finance arm for its parent’s products. After the spin-out, the bank wanted to rebrand itself and enable new offerings for its customers. The initial engagement with Wipro was to enable online account acquisition. 

In mid-2014, Wipro implemented its first RPA deployment at a financial services client. Wipro deployed complete automation and an RPA COE Process assessment and Simplification led Automation team, which has scaled up to more than 150+ bots over time.

In late 2015, Wipro implemented its first AI deployment at a banking client. The bank requested a KYC POC. Wipro deployed several POCs at this time. In January 2016, the KYC offering was put into full production in this client, and thereafter, the KYC offering has been deployed at more than four banking clients globally.

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