Wipro Launches an Immersive Innovation Experience for Financial Services with Microsoft

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced the launch of the Wipro Industry Innovation Experience for Financial Services, featuring a new suite of banking and financial services solutions built on Microsoft Cloud.

The Innovation Experience will bring together Microsoft Cloud capabilities with Wipro FullStride Cloud, as well as leverage Wipro’s and Capco’s deep domain expertise in financial services. Together, Microsoft and Wipro will develop new solutions to help financial services clients accelerate growth and deepen client relationships.

The Innovation Experience will allow financial services firms to explore new solutions in an immersive 3D environment. Solutions currently available as part of the Experience range from prevention of financial crime and loan origination to those that help transform core banking systems and maximize cloud investments.

Harpreet Arora, Senior Vice President and Global head of BFSI Domain and Consulting, Wipro Limited, said: “By combining Microsoft Cloud with Wipro FullStride Cloud’s portfolio and deep financial services expertise, we are uniquely positioned to offer clients transformative solutions to tackle their biggest challenges and deliver tangible business outcomes. This Innovation Experience in partnership with Microsoft will also foster and speed up the collaboration that is necessary to continuously help our clients.”

Bill Borden, Corporate Vice President, Worldwide Financial Services at Microsoft, said: “Using Microsoft Cloud for Financial Services, Wipro has delivered a variety of new, innovative solutions that will help financial institutions speed time to value and drive sustainable growth. We’re excited that our joint customers can now test drive them via Wipro’s virtual Industry Innovation Experience for Financial Services.”

Nitish Mittal, Partner, Everest Group, added: “Financial services enterprises are looking to enhance their industry cloud journey by focusing on expertise for complex domain challenges leveraging platform-based cloud operating models. This Microsoft and Wipro partnership is an evolutionary step in this direction to help financial services clients accelerate their transformation and enhance cloud value realization.”

Solutions currently included in the Innovation Experience include:

• Core Banking Transformation – a bundled solution empowering banks to overcome legacy challenges, deliver new capabilities, and realize the benefits of NextGen banking.
• Intelligent Volume Optimization and Risk Management (IVOR) – an AI-powered anti-money laundering solution that helps detect financial crime by making operations more accurate, efficient, and cost-effective.
• NetOxygen – a digital cloud-based loan origination solution that streamlines the lender/borrower experience, enabling an automated, end-to-end lending process that scales cost effectively, delivering a faster and seamless digital mortgage experience.
• FinOps – a comprehensive cloud operations and management solution that enables banks to capitalize on their cloud investments, drive innovation, optimize operations and scale products quickly.

Source: Wipro