Recent changes in banking have made Cards and Payments amongst the most complex segments in the banking landscape. With increased competition, the key to long term profitability is in acquiring new card holders, increasing usage of current card holders and reducing fraud. On the payments side, new platforms that provide an enterprise-wide view and deliver services driven by cross-border transactions, a heightened regulatory environment and changing customer needs, are enabling growth.

Wipro Technologies has been helping our clients evolve their data management systems, processes, and operating models for over a decade. Wipro’s Reference Data Practice combines the best of our capabilities across service lines and verticals to deliver reference data expertise in IT and Operations consulting and outsourcing to clients around the globe.

Today’s enterprise banking operations face five key challenges that impact profitability: margin compression, inadequate customer insight, dwindling branch efficiency, ageing systems with limited business functionality and the pressure of regulatory compliance.

According to Forrester, there will be 2.2 billion people online worldwide by 2013. However, at the moment, only around 30% customer of a financial institution apply for a product and complete the product application online. To improve the online account acquisition rates and reduce the cost of acquisition and serving the customer, banks will have to :

Wipro has worked with the top 10 investment banks spanning across front office to back office domain as well as entire range of asset classes from cash equities to fixed income, derivative and structured products.

Lending practices are undergoing a transformation, forcing banks to rethink their competitive strategies. Financial sector deregulation, product innovation and globalization have increased competition and improved the supply of credit, leading to higher risk and hence the need for better controls. Change in the technology landscape, customer preferences and innovation in leveraging non-traditional channels to approach customers effectively are rewriting the banking landscape.

Economic conditions, market consolidation and opportunity are causing cash rich global corporations to gear up for brisk mergers and acquisitions in a bid to create new synergies, gain access to new markets, cut costs, improve efficiencies and create value for stakeholders. Historically however, corporate mergers, divestments and restructuring have often failed to deliver against their objectives, resulting in loss of business momentum and value erosion for shareholders.

Wipro’s end-to-end capabilities in the mobile financial services space starts with providing consulting services to help determine which solutions best meet the needs of our customers. We have platforms and accelerators to speed up the time-to-market for these solutions.

Organizations offering mortgage lending in today’s environment face challenges on multiple fronts: increased regulatory requirements, limited loan products, and constrained bottom-line revenue growth. Using Wipro’s suite of solutions can make the difference in your efforts to succeed today as well as tomorrow. Combining mortgage resources (both domestic and abroad) and technology innovation, Wipro enables you to overcome challenges in production scalability, regulatory compliance, and speed-of-delivery, all the while improving your bottom-line.

Keeping in view the critical banking regulatory imperatives across global markets, Wipro has created the Risk and Regulatory Compliance Practice with the slated goal to enable, assist and partner our customers in developing integrated risk management capabilities, designed to drive efficiency, provide better value to stakeholders and drive higher business performance in an uncertain environment.

The complexity of services and products related to wealth management and investment banking has increased considerably. There is a renewed emphasis on minimizing operational and application costs, maximizing revenue and addressing regulatory requirements. New standards of performance are being set for banks without borders.