Wipro, Finastra to drive digital transformation for Middle East banks

Wipro has entered into a partnership with fintech company Finastra for driving digital transformation in the Middle East for corporate banks.

According to the Indian IT services provider, the multi-year collaboration is in line with the vision of the Middle East to digitize quickly and strengthen cross-border trade.

The agreement will see Wipro become the exclusive implementation and go-to-market partner for implementing the trade finance solutions of Finastra in the Middle East.

Manish Joshi — Finastra Managing Director of Lending, APMEA, said: “As an already longstanding and important global partner, we are very pleased to extend our collaboration with Wipro to the Middle East. The broad portfolio of services and deep experience offered by Wipro are a superb compliment to Finastra’s cutting-edge solutions.

“Leveraging this combination, we look forward to fueling the digital transformation of even more banks and financial institutions in the region to help them and their customers reap the benefits of digitalization.”

Wipro, Finastra to drive digital transformation for Middle East banks. Photo courtesy of Rameshng/Wikimedia Commons.

Wipro along with Finastra’s product suite, plans to help corporate banks in transforming and digitizing the full trade finance process to enable automation, faster time-to-market, optimization, and minimized customer response times.

Wipro said that the partnership combines its own expertise as well as that of its CAPCO and Designit subsidiaries across consulting, customer experience/user experience (CX/UX), cloud migration/adoption, digital transformation, data and analytics, infrastructure, and operations.

Mohamad Hamza — Wipro Regional Head of Banking, Financial Services, & Insurance (BFSI) – Middle East said: “Corporate banks are key players in the sector and are significantly transforming the way they operate to cope with the ever-evolving industry.

“Re-imagining digital services to improve client experiences and rationalizing platform and operations centres to drive efficiencies are key priorities for the sector. This exclusive partnership with Finastra will enable us to help clients transform into truly digital platform players.”