Temenos (SIX: TEMN) and Wipro Limited (NYSE: WIT) announced an expanded partnership “to help banks of every size accelerate their modernization journey.”
This expanded partnership will “enable banks across varying scales to accelerate their go-to market strategies in regions including the United States, the U.K and Australia.”
Incumbent banks have “to contend with complex legacy technology that can include multiple core capabilities, disparate systems and product silos.”
Combining Temenos open platform for composable banking with Wipro’s deep technical expertise and industry insights, the two companies will “deliver large-scale transformations from front-end digital capabilities to back-end transactional processing, helping banks complete their digital-first journey through an accelerated modernization timeline and increased efficiency in daily operations.”
Earlier this year, Temenos announced “a new partner-first strategy to drive faster innovation, broader reach in new markets, and faster adoption of its platform.” Under this agreement, Wipro becomes “a global partner as part of the Temenos IMPACT partner program and will provide its clients with deep domain expertise to design, test, implement and extend Temenos’ technology.”
Wipro is one of the largest providers of “integrated, end-to-end technology and consulting services, with more than 1,400 clients.” The company has “an established client portfolio across financial hubs, as well as global teams with deep experience and domain knowledge of the BFSI industry.”
Harpreet Arora, Global BFSI Domain & Solutions Head, Wipro Limited, said:
“The evolution of the business landscape, coupled with emerging technologies, is compelling banks to shift and enhance their models. As a leading transformation service provider to the financial services industry, Wipro will bring unmatched experience and help Temenos clients drive business growth, and propel financial institutions to the forefront of their digital transformation.”
Ross Mallace, EVP – Global Head of SaaS & Partner Ecosystem, Temenos
Temeno, said:
“The DNA of banking is changing to be more open, agile and collaborative. By partnering with companies like Wipro, we can help banks unlock the full potential of our composable banking platform. Wipro will extend our clients’ ability to leverage our broad set of banking capabilities to increase efficiency, create outstanding customer experiences, and grow their business. We’ve worked with Wipro for many years, and we’re excited for this new phase of our partnership. Together we can help banks turn their challenges into opportunities, as banking embraces the digital era.”