Over the years, many financial institutions have grown into complex matrix organizations with a wide range of products, processes and systems. This has happened due to mergers & acquisitions, organizational restructuring, rapid product innovation, increasing competition, ever increasing customer expectations, frequent regulatory changes and ever increasing compliance requirements. Simplifying the business has, therefore, become a necessity for the financial services industry, banks and securities & capital markets in particular. The need of the hour is to reduce costs and risk of operation while improving customer experience and regulatory compliance.
How Wipro Helps
Wipro's Products and Solutions Simplification Group leverages deep industry, domain and process competencies to provide end-to-end consulting on simplification solutions.
We help you simplify:
- Your business and operating model - including business architecture, IT/business operation model and structure changes
- Your business processes - including customer facing processes (e.g., onboarding, KYC etc.) and internal processes (e.g., payment, risk & compliance, etc.)
- Your IT processes - including IT architecture, IT infrastructure and networks, application portfolio rationalization/consolidation/transformation/ migration
We offer services across Retail and Corporate Banking, Wealth Management, Securities & Capital Markets, Pensions & Investments and Insurance.
Our service offerings include:
- Assessment of current state using Wipro proprietary framework and tool set
- Base lining current maturity / complexity level against defined maturity model
- Recommendation and roadmap to take our clients up the maturity curve
- Implementation of process and technology changes to achieve desired level simplification
- Adapted programme and project management to help our clients travel the path and achieve the desired maturity level and benefits in their simplification journey