Vendor Analysis
published on Aug 04, 2021
Report Overview:
This NelsonHall vendor assessment analyzes Wirpo's offerings and capabilities in Transforming Wealth & Asset Management Services.
Who is this Report for:
NelsonHall’s Transforming Wealth & Asset Management Services Vendor Assessment for Wipro is a comprehensive assessment of Wipro’s wealth and asset management services offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of intelligent automation processes 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 has been providing IT services to W&A managers since 1995. It expanded its capabilities in 2002 when it acquired Spectramind, a vendor of BPS services. Wipro expanded Spectramind’s BPS services to include transaction processing services, which are a critical component of wealth and asset management processes. Wipro expanded into transaction processing to cross-sell to its capital markets clients.
In 2006, Wipro won a major BPS contract to process asset clearing and settlements for a European investment bank. Over time, the relationship expanded 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 2015 Wipro added proprietary software to underpin its services offerings for W&A managers by forming a partnership with Finartis 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. Today, Wipro is expanding its onshore and nearshore delivery capabilities to expand its footprint within clients and across geographies for individual clients.
In 2016 Wipro acquired Appirio to enhance its Salesforce capabilities and deliver CRM and client analytics for wealth managers.
In March 2021, Wipro acquired Capco, a global technology and management consultancy specializing in digital transformation across the financial services industry. The acquisition is expected to enable Wipro to shift its business mix towards an increasing share of high-value technology consulting services focused on technology and operations transformation for its financial services clients.