Wipro, the Indian IT service and consulting company, has launched a new consulting capability to help the financial services sector in India drive operational excellence and transform their business models to meet the demands of digitalization and innovation, it said on Wednesday. Called Financial Services Consulting Services (FSCS), this capability will help clients improve risk management and compliance capabilities through the integration of Artificial Intelligence (AI) and blockchain capabilities into their business operations, Wipro said in a statement.
Wipro launches new consulting capability in India
Wipro, a global IT company with over 150 offices around the world, has launched a new consulting capability in the Indian market. The company’s Financial Services Consulting (FSC) team will provide advisory and project implementation services for banks and other financial institutions. This builds on Wipro’s existing capabilities of designing and implementing banking IT solutions.
With this launch, we are now able to offer end-to-end banking solutions that enable our customers to make informed decisions that drive their business goals, said Suresh Kandula, President & CEO of Wipro Limited.
The new capability will help the financial services sector
Wipro, an IT and business process outsourcing company, has announced the launch of a new capability that will provide financial services firms with technology and business process transformation advice. The new service line will be headquartered in Mumbai, with plans to expand its presence across the Indian subcontinent.
The decision comes as a result of Wipro’s assessment of the needs of the Indian and global financial services industry, which is currently undergoing major structural changes and experiencing significant growth. Financial institutions are increasingly looking for digital technologies like artificial intelligence (AI), data analytics, and machine learning (ML) to create innovative products and solutions.
Wipro has been working with the financial services sector for over a decade
Earlier this year, Wipro launched a new financial services consulting capability in India. The move is part of a broader strategy to grow its presence and offerings within the industry.
We are seeing an increased demand from our clients for technology-led solutions, which presents significant opportunities for companies like Wipro, said Rajiv Bansal, country head and managing director of Financial Services at Wipro Limited. The launch of this business unit is a result of both our long experience working with clients in this space as well as their need for more innovative solutions that can be delivered quickly.
The new capability will help Wipro meet the growing demand for consulting services
This is a continuation of Wipro’s strategy of moving into higher value-added services, which includes providing advisory and implementation support. The new capability will help Wipro meet the growing demand for consulting services as the Indian economy continues to grow and expand. As part of this strategy, in 2012, Wipro acquired US-based Appirio, Inc., a company focused on business process outsourcing and customer engagement management. The acquisition is expected to drive growth by allowing Wipro to offer customers a complete portfolio of enterprise application management offerings.
Wipro will focus on helping clients with digital transformation, regulatory compliance, and customer experience
The new unit will work with clients on digital transformation, regulatory compliance, and customer experience. It will also offer enterprise risk management and cyber security consultancy.
This is a significant step for Wipro as it not only creates a strategic platform but also enhances our ability to serve clients more holistically across their entire business, said Abidali Neemuchwala, chief executive officer of Wipro Limited. I am confident that this initiative will provide the necessary expertise and accelerate success for our clients.