At Wipro, we understand the challenges faced by financial institutions when it comes to risk management, compliance, and accounting. That's why we have developed the LIBRO Solution Framework, a comprehensive platform that empowers financial institutions to streamline their processes and gain valuable insights from data-driven analytics.
Key Capabilities of LIBRO Solution Framework
Unified Foundation for Risk and Finance: LIBRO provides a unified platform that integrates risk and finance systems, eliminating the lack of integration between transaction systems, risk, and finance. This ensures seamless data flow and enables efficient decision-making.
Streamlined Financial Accounting: With LIBRO, financial institutions can say goodbye to manual controlling, processing, recording, and correcting processes. Our solution automates these tasks, reducing delays and opening up new financial opportunities.
Integrated Finance Planning/Forecasting: LIBRO enables financial institutions to enhance their planning and forecasting capabilities. By providing a consolidated view of data and end-to-end drill-down capability, LIBRO empowers agile decision-making and improves transparency in P&L, cost, and risk.
Agile and Accurate Regulatory Compliance: LIBRO ensures that financial institutions stay compliant with regulations by offering an agile and accurate compliance system. Our solution reduces data duplication risk, minimizes errors, accelerates reconciliation, and facilitates the adoption of new compliance requirements.
Why Choose Wipro LIBRO
Thin Ledger: LIBRO offers a simplified architecture with real-time data and lower operating costs. With its high-performance finance ledger, financial institutions can manage global operations in a single instance. Additionally, LIBRO provides drill-back capability for transaction-level data, simplifying ledger mapping maintenance and reducing effort and cost.
Unified Risk, Finance, and Compliance System: LIBRO eliminates the need for multiple systems by providing a unified platform for risk, finance, and compliance. This reduces data duplication risk, minimizes errors, speeds up reconciliation processes, and facilitates the adoption of new compliance requirements.
Integrated Planning, Forecasting, and Consolidation: LIBRO enhances cost control, enables faster and more accurate financial statements, and supports ESG reporting and visibility. With LIBRO, financial institutions can optimize their planning, forecasting, and consolidation processes.
AI/Machine Learning Capabilities and Reconciliation Dashboard: LIBRO leverages AI and machine learning capabilities, along with Oracle Account Reconciliation Cloud Service (ARCS), to accelerate reconciliation processes. Our solution also offers a reconciliation dashboard for rapid prototyping and efficient reconciliation management.
Financial institutions that implement LIBRO can expect significant benefits, including a 10-15% reduction in back-office costs, a 15-20% reduction in audit process time, and a 30-40% decrease in period close time. These improvements free up resources, allowing financial institutions to focus on value-enhancing activities for their business.
In today's competitive landscape, financial institutions need to unify their data and processes to strike a balance between growth and risk. Wipro's LIBRO Solution Framework, powered by trusted Oracle technology, provides the necessary tools and insights to achieve this goal.
Join the ranks of successful financial institutions that have already implemented LIBRO and experience the transformation it brings to your organization.