Wipro Positioned as a 'Leader' in Everest Group’s Banking Operations - Services PEAK Matrix Assessment 2023

Everest Group analyzed 34 leading banking operations service providers based on their capabilities and offerings, and recognized Wipro as a Leader.

“Wipro has established itself with a strong partnership-led model, fostering collaborations with FinTechs and is venturing into new buyer segments across upcoming geographies. With a focus on delivering comprehensive banking solutions, it has scaled its portfolio in commercial lending, FCC, payments, and loan servicing while leveraging the HOLMES AI platform to enhance its suite of services," said Sahil Chaudhary, Practice Director, Everest Group. "Wipro's journey continues to be marked by innovation, partnerships, and strategic expansion, positioning itself in the financial technology landscape, catering to the evolving needs of its clients. These capabilities have enabled it to achieve a Leader recognition in Everest Group’s Banking Operations – Services PEAK Matrix® Assessment 2023.”

Everest Group has called out the below points as Wipro’s key strengths:

• Wipro has continued its strong partnership-led model with Fin Techs and is expanding its buyer segments in upcoming geographies. Its recently signed a multi-year partnership with Finastra for the digital transformation of corporate banks in the Middle East.
• Wipro has scaled its banking operations portfolio with an offering-led strategy for commercial lending, FCC, payments, and loan servicing. Clients are leveraging its BpaaS and omnichannel solutions, and HOLMES (AI platform) to extend their suite of services.
• With its acquisition of Capco, Wipro will leverage its consulting capabilities and domain expertise to deliver services such as strategy, technology development, and implementation to BFS clients. It also partnered with Plaid on an API-based solution to help financial institutions manage data privacy, security, and customer experience.
• With strategic acquisitions to fast-track its capability building in emerging areas, its acquired Ampion, and Edgile in cybersecurity, LeanSwift in the cloud, CAS in telco and cable, and Rizing in SAP consulting.
• With a growing delivery footprint, it has added centers in the US, the Philippines, and India, along with other countries, further bolstering its onshore, offshore, and nearshore capabilities.