Wipro and Finastra partner to drive transformation for corporate banks in the Middle East

By Leandra Monteiro

Wipro Limited, technology services and consulting company, announced a partnership with Finastra, a global provider of financial software applications and marketplaces, to drive digital transformation for corporate banks in the Middle East.

The multi-year engagement, aligned with the region’s vision to rapidly digitise and bolster cross-border trade, will make Wipro the exclusive implementation and go-to-market partner to deploy Finastra’s trade finance solutions in the region.

Together with Finastra’s product suite, Wipro will help banks transform and digitise the entire trade finance process, thereby enabling automation, optimisation, faster time-to-market, and reduced customer response times. This partnership combines Wipro’s expertise, along with its fully owned affiliates CAPCO and Designit, across Consulting, Digital Transformation, Customer Experience/User Experience (CX/UX), Data & Analytics, Cloud Migration/Adoption, Infrastructure, and Operations.

Mohamad Hamza, Regional Head of Banking, Financial Services, & Insurance (BFSI) – Middle East, Wipro Limited, 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.”

Manish Joshi, Managing Director, Lending, APMEA, Finastra, 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.”