Bangalore, India and East Brunswick, New Jersey, USA - September 16, 2016:
Wipro Ltd. (NYSE:WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today that it has been positioned in the "Winner's Circle" of the Mortgage As-a-Service Blueprint report, July 2016, by leading analyst firm HfS Research.
Authored by Reetika Joshi, Research Director, Operations & Analytics Strategies, the HfS Blueprint report analyzes mortgage service provider ecosystems across as-a-service areas, focusing on two primary categories: innovation and execution. Winners excel at service execution driven by collaborative client engagements, talent, technology, flexible service arrangements and have a future-ready vision, backed by forward thinking business strategies.
Wipro is one of four companies to be positioned in the Winner's Circle and was recognized for its progressive strategy, exceptional data quality and reporting standards, actionable intelligence, collaborative engagements, and adoption of new technologies.
"We are honored to be in the Winner's Circle," said Nagendra Bandaru, Senior Vice President, Business Process Services (BPS), Wipro Limited. "We recognize that the mortgage industry is at a tipping point. Despite the obvious need for greater efficiencies, mortgage businesses of today must also focus on achieving competitive advantage and meeting strategic growth objectives. By integrating process excellence, risk intelligence and advanced technologies, we tackle the mortgage industry pressures of today while preparing clients for rapid market, economic and technology changes impacting their business."
In addition to its robust global BPaaS capabilities, Wipro further enhances its offering by incorporating talent, technology, and processes from its mortgage units: Wipro Gallagher Solutions, an origination technology provider; and Opus Capital Markets Consultants, a specialized risk management provider to mortgage and consumer lenders, servicers, and investors. From point-of-sale through post-closing, servicing and secondary market execution, Wipro clients have access to automation, analytics, quality reviews and design thinking.
"Wipro has made significant investments in technology and trends impacting our clients, particularly Wipro Gallagher's NetOxygen Loan Origination System (LOS)," said Alok Bansal, General Manager, Wipro Gallagher Solutions. "For more than three decades, several top lenders have used the system. We've built upon that extensive experience to deliver an optimized solution that meets regulatory needs and supports client aspirations in the digital "as-a-service" environment."
"Wipro has shown a commitment to questioning the status quo" said Reetika Joshi, Research Director, Operations & Analytics Strategies for HfS. "They understand that it is not enough to offer back-office support. Tomorrow's mortgage as-a-service provider must supplement back-office support with analytics, automation, and digital tools."
About Wipro Limited.
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology." By combining digital strategy, customer centric design, advanced analytics and product engineering approach, Wipro helps its clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, Wipro has a dedicated workforce of over 170,000, serving clients across 6 continents. For more information, please visit www.wipro.com
About HfS Research
HfS Research is The Services Research Company™-the leading analyst authority and global community for business operations and IT services. The firm helps enterprises validate their global operating models with world-class research and peer networking. HfS Research coined the term The As-a-Service Economy to illustrate the challenges and opportunities facing enterprises needing to re-architect their operations to thrive in an age of digital disruption, while grappling with an increasingly complex global business environment. HfS created the Eight Ideals of Being As-a-Service as a guiding framework to help service buyers and providers address these challenges and seize the initiative.
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.