Vendor Analysis
published on Jan 28, 2022
Report Overview:
This NelsonHall vendor assessment analyzes Wipro's offerings and capabilities in Digital Banking Services.
Who is this Report for:
NelsonHall’s ‘Digital Banking Services: Transforming the Financial Services Industry’ Vendor Assessment for Wipro is a comprehensive assessment of Wipro’s banking industry digital services offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of digital processes and identifying vendor suitability for digital 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 digital 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 started delivering digital banking services in 2009/2010 with an engagement for a recently independent bank, which was previously the finance arm of a large industrial company. The bank wanted to rebrand itself and enable new offerings for its customers. The initial engagement was for Wipro to enable online account acquisition. Following this in 2014, Wipro implemented its first RPA deployment at a financial services client. In late 2015, Wipro implemented its first AI deployment at a banking client. The engagement delivered a KYC POC. In early 2016, the KYC offering was put into full production at the client.
Wipro has acquired capabilities in the past five years that have expanded its digital BFS consulting capabilities. In 2021, Wipro acquired Capco to extend its capabilities in business and technology consulting and digital transformation services customized for the financial services industry. Capco’s geographic footprint differs from Wipro’s, with different key accounts in continental Europe and North America. In addition, Capco has a network of onshore and nearshore shared consulting capability centers in Europe and North America which support Wipro moving closer to the client. Wipro is looking to leverage this acquisition to enable it to compete with the largest global IT services vendors.