Vendor Analysis
published on Dec 07, 2016
Report Overview:
This NelsonHall vendor assessment analyzes Wipro's offerings and capabilities in CMS in Retail Banking.
Who is this Report for:
NelsonHall’s CMS in retail banking industry sector profile on Wipro is a comprehensive assessment of Wipro’s retail banking sector customer management services (CMS) offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of CMS to serve the retail banking sector and identifying vendor suitability for CMS 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 retail banking offerings, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s CMS retail banking customer base, including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s retail banking sector CMS offerings and key service components
- Analysis of the company’s delivery organization including the geography of delivery locations used for CMS retail banking sector clients.
Key Findings & Highlights:
Wipro Ltd (Wipro) is a public company headquartered in Bangalore, India and traded on the Bombay Stock Exchange, the National Stock Exchange of India, and since 2000 on the New York Stock Exchange. Founded in 1945 in India, it entered the IT services industry in 1980, and by the end of the 1990s was established as an IT services provider. Today, it has ~170k employees and annual revenues of ~$7.7bn for FY 2015-2016.
Wipro entered the BPS space in 2002 with the acquisition of Spectramind for ~$93m. Spectramind was an Indian customer management services provider with ~2.6k seats and ~2.7k employees. It was based in Mumbai and New Delhi, supporting clients in the technology, telecom, financial services sectors and consumer durable manufacturers. Since then, Wipro has been expanding its BPS business organically and through acquisitions to include F&A, procurement, healthcare administration, HRO, legal process services, digital content creation and marketing, and analytics.
Wipro has ~20.5k customer management services (CMS) FTEs in 24 delivery centers across 12 countries, supporting 20 languages.
Wipro invested in the mortgage industry when it acquired Gallagher Financial Services, and a platform based originations solution. As a part of this acquisition, it obtained access to a loan origination platform called NetOxygen. It also invested in a partnership with a leading sub-servicer for loan servicing.
Wipro is providing CMS delivery for CMS retail banking organizations from the following locations: India, U.S., Europe, and the Philippines.