Vendor Analysis
published on Apr 22, 2020
Report Overview:
This NelsonHall assessment analyzes Wipro's offerings and capabilities in Transforming Mortgage and Loans Services.
Who is this Report for:
NelsonHall’s Transforming Mortgage and Loan 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 mortgage and loan process outsourcing and identifying vendor suitability for Transforming Mortgage and Loan 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 transformation of mortgage and loan 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:
In 2004, Wipro started in mortgage processing BPS services by providing data entry services for loan onboarding for a mortgage originator. Wipro expanded its M&L BPS offerings to include multi-channel data acquisition and entry for mortgages over the next five years. Also in 2004, Wipro started started servicing credit card loans for an existing card issuer client.
In 2008, Wipro acquired Gallagher Financial Systems, a software and IT services vendor for mortgage origination and fulfillment. The Gallagher acquisition resulted in the formation of Wipro Gallagher Solutions (WGS), enabling Wipro to offer loan origination software solutions, along with delivering mortgage BPS services. WGS delivers its solutions in both hosted and licensed formats.
In 2013 Wipro began its consumer loan BPS business to deliver services to credit card processors. In 2014, Wipro acquired Opus CMC, a U.S.-based provider of mortgage due diligence and risk management services, to enhance the platform capabilities acquired with Gallagher. Opus enabled Wipro to deliver all M&L processes to its clients.
Recent acquisitions have focused on vendors who can improve product presentation digitally. In 2015 Wipro acquired Designit, a digital design firm. Designit supports clients looking to develop products presented to the customer through an omnichannel environment. In 2016 Wipro acquired Appirio, a global cloud services vendor. Appirio differentiates as a cloud services provider who supports improved employee and customer experiences