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Wipro - Transforming Core Banking Services
Vendor Analysis
published on Nov 19, 2024
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Report Overview:
This NelsonHall vendor assessment analyzes Wipro's offerings and capabilities in core banking services
Who is this Report for:
NelsonHall’s ‘Transforming Core Banking Services’ profile on Wipro is a comprehensive assessment of Wipro’s offerings and capabilities for the core banking sector, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of technology and operational services and identifying vendor suitability for core banking services in 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 core banking service offerings and capabilities and market and financial strength, including:
- Identification of the company’s strategy, offerings, 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 Wipro service components
- Analysis of the company’s delivery organization including the location of delivery centers.
Key Findings & Highlights:
BFS is the largest business unit in Wipro and contributes one-third of overall revenues. Wipro’s delivery model is to provide “one unified face to the customer”. Wipro has been expanding its services to banks from its initial base of ITS offerings. Its most significant services expansion has been into high-value consulting services. In 2021, it acquired Capco, a technology consulting firm, and integrated the consulting services into its existing BFSI offerings. The Capco acquisition has enabled Wipro to pursue high-value technology consulting services focused on transforming operations. Each firm's initial client base had little overlap, enabling Wipro to pursue cross-sell and upsell opportunities.
Wipro does not have a proprietary core banking platform and invests in its partnerships with significant core platform vendors. It will continue investing in accelerators, APIs, and solutions with these ISVs. Wipro uses these investments to expand its AI and digital activities across geographies and client processes.