Wipro Limited has teamed up with Finastra to help develop innovative digital strategies for the Middle Eastern market, according to a press release.
“Corporate banks are key players in the sector and are significantly transforming the way they operate to cope with the ever-evolving industry. Re-imagining digital services to improve client experiences and rationalizing platform and operations centres to drive efficiencies are key priorities for the sector,” Mohamad Hamza, regional head of banking, financial services and insurance (BFSI) – Middle East, Wipro Limited, said. “This exclusive partnership with Finastra will enable us to help clients transform into truly digital platform players.”
The multi-year agreement will require Wipro to deploy Finastra’s local trade finance services and help the company strengthen its transition to a more digitized and effective cross-border trade.
Through the partnership, both parties hope to improve “trade finance process, thereby enabling automation, optimization, faster time-to-market and reduced customer response times.”
“As an already longstanding and important global partner, we are very pleased to extend our collaboration with Wipro to the Middle East,” Manish Joshi, managing director, lending, APMEA, Finastra, said. “The broad portfolio of services and deep experience offered by Wipro are a superb compliment to Finastra’s cutting-edge solutions. Leveraging this combination, we look forward to fueling the digital transformation of even more banks and financial institutions in the region to help them and their customers reap the benefits of digitalization.”
“In line with the ambition to drive sustainable business growth and deliver higher value to clients in this region, Wipro continues to strengthen its consulting capabilities while focusing on innovation, talent and ecosystem partnerships to offer experience-led transformation,” a recent press release states.
“Expanding our exclusive partnership with Finastra for trade transformation to the Middle East enables us to continue driving the digital transformation agenda for corporate banks and financial services companies; hence solidifying our position in the market,” Harpreet Arora, global head of banking, financial services and insurance (BFSI) Domain & Solutions, Wipro Limited, said. “Wipro will support Middle Eastern banks in implementing Finastra's trade finance products, by bringing Wipro’s domain expertise and service delivery capability jointly with Finastra’s product strength.”