Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. India
  4. Bombay Stock Exchange
  5. Wipro Limited
  6. News
  7. Summary
    507685   INE075A01022

WIPRO LIMITED

(507685)
  Report
End-of-day quote Bombay Stock Exchange  -  2022-12-01
412.35 INR   -0.30%
04:01aNomura Adjusts Wipro’s Price Target to 425 Indian Rupees From 380 Rupees, Keeps at Neutral
MT
12/01Verizon Business and Wipro partner with Network-as-a-Service offering
AQ
11/30Investor Optimism Over China Reopening Buoys Asian Equities
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Wipro : Finastra partner to power digital transformation for corporate banks in India

09/20/2022 | 08:20am EST

BANGALORE, India- Sept. 20, 2022 - Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, and Finastra, a global provider of financial software applications and marketplaces, today announced a partnership in India to help corporate banks accelerate digital transformation by deploying Finastra's leading solutions.

This partnership combines Wipro's expertise across consulting, digital, infrastructure and operations with Finastra's cutting-edge solutions to deliver modern API enabled platforms for banks to innovate, streamline and digitize core trade finance processes, while reducing cost overheads.

This multi-year partnership makes Wipro the exclusive implementation and go-to-market partner for all banks in India for Finastra's Fusion Trade Innovation and Fusion Corporate Channels. Wipro is also one of Finastra's preferred global partners for its Cash and Liquidity Management solutions.

Satya Easwaran, Country Head - India, Wipro Limited, 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."

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

Edward Sweigart, Vice President, Global Partner Ecosystem, Finastra, said, "Wipro has long been a key global partner for Finastra, with significant and broad experience built in that time. Banks and financial institutions will now be able to leverage the combination of this experience and Finastra's leading solutions, which will help them to transform, grow, and better serve their customers."

Harpreet Arora, Global BFSI Domain & Solutions Head, Wipro Limited, said, "The strengthening and expansion of our partnership with Finastra is fundamental to driving the digital transformation agenda for corporate banks and financial services companies in India. Wipro's acquisition of Encore Theme Technologies, a specialist in implementing Finastra's trade finance solutions, continues to augment our deep and differentiated capabilities, and this partnership will solidify our presence across Asia Pacific further."

Wipro has several decades of strong presence and credibility in the India market. India is one of the six focus regions that comprise Wipro's APMEA (Asia Pacific, Middle East, India and Africa) Strategic Market Unit. In line with the ambition to drive sustainable business growth and deliver higher value to clients in this region, Wipro continues to strengthen its consulting capabilities, while focusing on innovation, talent and ecosystem partnerships to offer experience-led transformation. Wipro is also well known for its sustainability and social good initiatives in India through the Wipro Foundation. Wipro has been recognised by Great Place to Work® India as one of India's Best Companies to Work For 2022 - Top 100.

About Wipro Limited

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 250,000 employees and business partners across 66 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.

About Finastra

Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning solutions and services across Lending, Payments, Treasury & Capital Markets and Retail & Digital Banking for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world's top 100 banks. For more information, visit finastra.com.

Media Contact:

Wipro Limited
Nisha Chandrasekaran
nisha.chandrasekaran@wipro.com

Finastra
Benjamin Jun Tai
Benjamin.juntai@finastra.com

Forward-Looking Statements

The forward-looking statements contained herein represent Wipro's beliefs regarding future events, many of which are by their nature inherently uncertain and outside Wipro's control. Such statements include, but are not limited to, statements regarding Wipro's growth prospects, its future financial operating results, and its plans, expectations, and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.

Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

Disclaimer

Wipro Limited published this content on 20 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 September 2022 12:19:08 UTC.


ę Publicnow 2022
All news about WIPRO LIMITED
04:01aNomura Adjusts Wipro’s Price Target to 425 Indian Rupees From 380 Rupees, Keeps a..
MT
12/01Verizon Business and Wipro partner with Network-as-a-Service offering
AQ
11/30Investor Optimism Over China Reopening Buoys Asian Equities
MT
11/30Wipro Launches Wipro Data Intelligence Suite
BU
11/30Wipro : launches Wipro Data Intelligence Suite
PU
11/30Verizon Business, Wipro Team Up on Integrated Network-as-a-Service Offering
MT
11/30Wipro Launches New Suite for Cloud Modernization, Data Monetization
MT
11/30Wipro Launches Wipro Data Intelligence Suite
CI
11/30Verizon Business and Wipro partner to accelerate network transformation with Network-a..
AQ
11/30Verizon Business and Wipro Partner to Accelerate Network Transformation with Network-As..
CI
More news
Analyst Recommendations on WIPRO LIMITED
More recommendations
Financials
Sales 2023 907 B 11 137 M 11 137 M
Net income 2023 114 B 1 396 M 1 396 M
Net cash 2023 218 B 2 677 M 2 677 M
P/E ratio 2023 19,9x
Yield 2023 2,03%
Capitalization 2 258 B 27 723 M 27 723 M
EV / Sales 2023 2,25x
EV / Sales 2024 1,97x
Nbr of Employees 259 179
Free-Float 26,7%
Chart WIPRO LIMITED
Duration : Period :
Wipro Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WIPRO LIMITED
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 40
Last Close Price 412,35 INR
Average target price 423,65 INR
Spread / Average Target 2,74%
EPS Revisions
Managers and Directors
Thierry Delaporte CEO, Executive Director & Managing Director
Jatin Pravinchandra Dalal President & Chief Financial Officer
Rishad Azim Premji Executive Chairman
Subha Tatavarti Chief Technology Officer
Harmeet Chauhan Global Head-Engineering, Research & Development
Sector and Competitors
1st jan.Capi. (M$)
WIPRO LIMITED-42.34%27 723
ACCENTURE PLC-27.60%189 106
TATA CONSULTANCY SERVICES LTD.-8.00%154 538
INTERNATIONAL BUSINESS MACHINES CORPORATION11.23%134 416
AUTOMATIC DATA PROCESSING, INC.9.46%111 962
INFOSYS LIMITED-13.24%84 382