Finastra sets the Middle East for digital transformation with Wipro deal

digital growth

Tech services company Wipro has partnered with financial software provider Finastra in a bid to enhance the digital transformation of corporate banks in the Middle East.

Utilising Finastra’s product suite, Wipro will be able to offer banks a complete digitalisation of their entire trade finance process, bringing in faster time-to-market and reduced customer response times.  

Together with Wipro’s fully-owned affiliates Capco and Designit, the partnership will focus on improvements across several sectors, including consulting, digital transformation, CX/UX, data & analytics, cloud migration/adoption, infrastructure, and operations.

Mohamad Hamza, Regional Head of Banking for Middle East at Wipro, 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 rationalising 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 of Lending at Finastra, reiterated Hamza’s words by saying that the partnership will sow and reap plenty of opportunities for innovation in the region. 

“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 digitalisation.”

Finally, Harpreet Arora, Global Head of Banking at Wipro, added: “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.”