Wipro, Finastra to drive digital transformation for Indian corporate banks

Wipro has announced a partnership with Finastra, a provider of financial software applications and marketplaces, with an aim to accelerate the digital transformation of corporate banks by deploying the latter’s solutions.

The collaboration is said to bring together the expertise of Wipro across consulting, digital, operations, and infrastructure with the solutions of Finastra to provide modern API enabled platforms for banks in innovating, optimizing, and digitizing core trade finance processes, while lowering cost overheads.

Manish Joshi — Finastra Lending, APMEA Managing Director said: “Wipro’s diverse service portfolio and deep experience working with clients in India makes them an ideal partner for Finastra. India is a key growth market for Finastra and working together with Wipro will enable us to rapidly extend our reach in the country, enabling our solutions to help even more organizations realize the benefits of digital transformation.”

Through the multi-year partnership, Wipro will become the exclusive implementation and go-to-market partner for the Fusion Trade Innovation and Fusion Corporate Channels of Finastra for all banks in India.

Wipro has also been one of the selected global partners of Finastra for its solutions for cash and liquidity management.

Satya Easwaran — Wipro India Country Head said: “Corporate banks in India are increasingly looking at moving from the traditional manual and offline model to real-time execution, online platforms, and value-added services.

“With our exclusive partnership with Finastra, we can help our banking clients transform into truly digital platform players in trade and supply chain finance, with the ability to anticipate end-customer needs and respond in a much more agile and flexible manner. We are excited to bring together Wipro’s deep domain expertise in Banking with Finastra’s leading product suite.”