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Wipro - Transforming Intelligent Automation in Banking
Vendor Analysis
published on May 09, 2023
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Report Overview:
This NelsonHall vendor assessment analyzes Wipro’s offerings and capabilities in intelligent automation for the banking and financial services sector
Who is this Report for:
NelsonHall’s “Transforming Intelligent Automation in Banking” profile on Wipro is a comprehensive assessment of Wipro’s offerings and capabilities for the BFS sector, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of intelligent automation process services and identifying vendor suitability for intelligent automation services in banking 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 BFS-focused intelligent automation offerings, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphasis, and new developments
- Analysis of the company’s strengths, challenges, 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 centers.
Key Findings & Highlights:
Financial services is Wipro’s largest industry practice and generates 36.5% of its overall revenues. It started developing RPA and AI services in 2010 by developing internal capabilities for big data and NLG. In 2014 Wipro launched its HOMES intelligence platform, which delivered NLG functionality to support Wipro’s customer service desk offering. Also in 2014, Wipro implemented an RPA deployment for a financial services client. In 2015 it implemented its first AI deployment at a banking client to address KYC processing.
Wipro has grown its consulting capabilities, primarily by acquisition. The Capco acquisition in 2021 greatly expanded its delivery capabilities for technology consulting and expanded its client base. It has also been rapidly expanding its alliances, IP, and library of use cases. Wipro is using these investments to expand its IA and digital activities across geographies and client processes.
Wipro uses a three-pillar model to differentiate itself, whereby it is:
- People-led: develops talent with training programs to deliver skilled labor at scale and utilizes a “zero-touch change” approach to change management
- Design-led: utilizes a persona-based approach to designing solutions to ensure they are both usable and provide high CSAT
- Outcome-focused: utilizes process discovery and mining tools to automate processes, with guaranteed cost reductions.