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Wipro- Transforming Wealth and Asset Management Services

Vendor Analysis

by Andy Efstathiou

published on Jun 07, 2019

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Report Overview:

This NelsonHall assessment analyzes Wipro's offerings and capabilities in Transforming Wealth and Asset Management Services

Who is this Report for:

NelsonHall’s Transforming Wealth and Asset Management Services Vendor Assessment for Wipro is a comprehensive assessment of Wipro’s and Asset Management Services offerings and capabilities designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for Wealth and Asset Management 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 Wealth and Asset Management 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 providing IT services to asset and wealth managers in the mid-1990s. In 2002, Wipro acquired Spectramind to expand its business activities into BPS services. Wipro expanded Spectramind’s BPS services to transaction  processing services including asset and wealth management processes. The purpose of the service expansion was to cross-sell its capital markets clients. In 2006, a major European investment bank awarded a BPS contract to Wipro for the processing of asset clearing and settlements. Over time, Wipro expanded the relationship to include reference data management, corporate actions, exchange-traded derivatives processing, asset servicing, and ‘change the bank’ functions. Over the next eight years, Wipro added W&A clients for its BPS and ITS services business.   

In 2014, Wipro built the HOLMES cognitive platform. In 2016, Wipro began its digital banking services business by building capabilities in:

  • Digital Design: acquisition of DesignIT (2015) and Cooper to create a proprietary digital design offering
  • Cloud application services: to facilitate the movement and management of data to the cloud
  • Crowdsourcing platform: a partnership with Topcoder to facilitate access to skilled digital software technology developers on an as-needed basis.

In 2015 Wipro formed a partnership with Finartis (originally named SAGE) to provide access to their Prospero line of software including Prospero Wealth Management, Prospero IAM and Family Office, Prospero Fund Administration and the BlackSwan Asset Allocation/ Risk Management Platform.

Key acquisitions and venture investments Wipro has made include:

  • Appirio (2016): cloud-based solutions
  • Topcoder (2016): solution design and digital engagement
  • Tricentis (2017): augments agile and testing capabilities
  • Headspin (2017): mobile experience platform
  • iManis Data (2015): Big Data platform

Table of contents:

Table of contents:

  • Background
  • Revenue Summary
  • Key Offerings
  • Delivery Capability and Partnerships
  • Proprietary IP
  • Partners
  • Pricing and Contracts
  • Target Markets
  • Strategy
  • Strengths and Challenges
  • Strengths
  • Challenges
  • Outlook

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