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

 

This multi-year engagement, aligned with the region’s vision to rapidly digitize 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, said the company in a statement.

 

Together with Finastra’s market-leading product suite, Wipro will help banks transform and digitize the entire trade finance process, thereby enabling automation, optimization, faster time-to-market, and reduced customer response times, it stated. 

 

Wipro said this partnership combines its 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.

 

On the deal, Mohamad Hamza, Regional Head of Banking, Financial Services, & Insurance (BFSI) for 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," noted Hamza.

 

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," he stated.

 

Harpreet Arora, Global Head of Banking, Financial Services, and Insurance (BFSI) Domain & Solutions, said expanding Wipro's exclusive partnership with Finastra for trade transformation to the Middle East will enable the group to continue driving the digital transformation agenda for corporate banks and financial services companies; hence solidifying its position in the market. 

 

"Wipro will support Middle Eastern banks in implementing Finastra's trade finance products, by bringing Wipro’s domain expertise and service delivery capability jointly with Finastra’s product strength," Arora added.-TradeArabia News Service