The IT major announced a partnership with Finastra, a global provider of financial software applications and marketplaces, to drive digital transformation for corporate banks in the Middle East.
This multi-year engagement, aligned with the region's vision to rapidly digitize and bolster cross-border trade, will make Wipro the exclusive implementation and go-to-market partner to deploy Finastra's trade finance solutions in the region.Together with Finastra's market-leading product suite, Wipro will help banks transform and digitize the entire trade finance process, thereby enabling automation, optimization, faster time-to-market, and reduced customer response times. This partnership combines Wipro's expertise, along with its fully-owned affiliates CAPCO and Designit, across Consulting, Digital Transformation, Customer Experience/User Experience (CX/UX), Data & Analytics, Cloud Migration/Adoption, Infrastructure, and Operations, Wipro said in a statement.
Mohamad Hamza, Regional Head of Banking, Financial Services, & Insurance (BFSI) - Middle East, Wipro Limited, said, 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. This exclusive partnership with Finastra will enable us to help clients transform into truly digital platform players."
Wipro said it has several decades of strong presence and credibility in the Middle East, which is one of the six focus regions that comprise Wipro's Asia Pacific, Middle East, India, and Africa (APMEA) Strategic Market Unit.
Wipro is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs. Its consolidated net profit rose 3.72% to Rs 2,659 crore on 4.7% increase in revenue form operations to Rs 22,539.7 crore in Q2 FY23 over Q1 FY23. On a year on year (YoY) basis, the IT firm's net profit declined 9.27% while revenue jumped 14.6% in Q2 FY23.
Shares of Wipro fell 1.15% to Rs 395.35 on the BSE.
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