East Brunswick, New Jersey, USA and Bangalore, India - March 9, 2017:
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has been positioned in the 'Winner's Circle' by leading global analyst firm HfS Research, The Services Research Company™, in its first ever 'Blueprint Report on Capital Markets Operations', January 2017, authored by Reetika Joshi, Director, Operations & Analytics Strategies, HfS Research.
The 'Winner's Circle' of the HfS Blueprint represents organizations that demonstrate excellence in both execution and innovation across the capital markets operations value chain. The range of operations include BPO (business process outsourcing), BPaaS (business process as a service), utilities and platform-based business services, provided to clients in asset management, investment banking, and brokerage and wealth management.
The report assessed service providers on their ability to work in collaborative models of engagement, actual delivery of solutions, and experience in working across capital markets segments. The blueprint report also evaluated service providers in terms of the progress they made in embedding intelligent automation and their vision for Capital Markets market evolution.
HfS has recognized Wipro for driving automation and undertaking RPA (Robotic Process Automation) implementations for its clients, the first use case being eKYC, Wipro's enterprise-Know Your Customer solution for financial Institutions, built on the Wipro HOLMES Artificial Intelligence Platform™.
It uses a library of Wipro HOLMES bots to automate the manual processes of KYC, such as information aggregation, extraction and verification and enables greater accuracy, improved customer experience and assurance of better quality KYC, in line with regulatory requirements. The platform has resonated well with Wipro's marquee clients and is now being offered in more geographies.
The report also highlighted that Wipro has built an industry leading practice for core operations in capital markets, with particular strengths in clearing and settlement, syndicated loans and reconciliations. Wipro works with 3 of the top 5 largest global banks in these areas.
HfS has recognized Wipro for advancing the 'cognitive' dialogue in capital markets and making significant headway in RPA implementations. Currently, Wipro has active RPA deployments across eight capital markets clients, with about 50 different BOTs implemented across both rule-based and judgement-based processes.
Nagendra P Bandaru, Senior Vice President and Global Head, Business Process Services, Wipro Limited, said, "We are delighted to be positioned in the Winner's Circle by the analyst firm HfS Research in its Blueprint report on capital markets operations. Our industry-leading practice has been built on the philosophy of continuous value creation for our customers through flawless execution, deep domain knowledge, and optimal risk management. And our relentless focus on innovation has enabled us to successfully deploy the Wipro HOLMES Artificial Intelligence Platform™ to drive automation and RPA across our customer landscape, generating significant efficiencies and improved customer experience. We have leveraged our partner ecosystem to launch several differentiated solutions across domains for the 'as a service' economy. These initiatives are helping us to consolidate our leadership position in the industry."
Reetika Joshi, Director, Operations & Analytics Strategies, HfS Research, said, "HfS analysis places Wipro as an industry leader in capital markets, with specific strengths in securities processing. The company has significant experience in running the core operations of banks and capital markets firms, and is now on the forefront of implementing intelligent automation technologies for them, including cognitive tools with its eKYC offering, based on the Wipro HOLMES Artificial Intelligence Platform™. Wipro has multiple partnerships to offer utilities, which will help it get further ingrained as a critical industry player in the next two years."
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
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.