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Leading technology services and consulting firm Wipro has entered into a partnership agreement with global financial software applications and marketplace provider Finastra to drive the digital transformation of corporate banking in the Middle East.
The multi-year collaboration, in line with the region’s vision of rapid digitization and enhanced cross-border trade, will make Wipro the exclusive implementation and go-to-market partner for deploying Finastra’s trade finance solutions in the region, the company said in a statement.
Together with Finastra’s market-leading product suite, Wipro will help banks transform and digitize the entire trade finance process, enabling automation, optimization, faster time-to-market and improved customer response times, it said.
Wipro said the partnership combines its expertise in consulting, digital transformation, customer experience/user experience (CX/UX), data and analytics, cloud migration/adoption, infrastructure and operations and its wholly-owned subsidiary Companies Capco and Designit.
Regarding the deal, Mohamad Hamza, Regional Head of Banking, Financial Services and Insurance (BFSI) Middle East, said: “Corporate banks are major players in the industry and are significantly changing the way they operate in response to a changing industry. Reimagining Digital services to improve customer experience and rationalization of platforms and operations centers to increase efficiency are key priorities for the industry.”
“This exclusive partnership with Finastra will allow us to help our clients transform into true digital platform players,” Hamza noted.
Manish Joshi, Managing Director, APMEA Lending at Finastra, said: “As an already long-standing and valued global partner, we are delighted to extend our partnership with Wipro to the Middle East. Great compliment.”
“Using this combination, we look forward to driving the digital transformation of more banks and financial institutions in the region, helping them and their clients reap the benefits of digitalization,” he said.
Harpreet Arora, Global Head of Sectors and Solutions, Banking, Financial Services and Insurance (BFSI), said the extension of Wipro’s exclusive partnership with Finastra to the Middle East will allow the group to continue driving the digital transformation agenda for corporate banking and financial services company; thereby strengthening its position in the market.
“By combining Wipro’s domain expertise and service delivery capabilities with Finastra’s product strength, Wipro will support Middle Eastern banks in implementing Finastra’s trade finance products,” added Arora.-TradeArabia News Service
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