Wipro Limited, on Friday, announced signing a multi-year partnership with a fintech company, Finastra, to drive digital transformation for corporate banks in the Middle East.

The agreement is aligned with the region’s vision to digitise and bolster cross-border trade, and will make Wipro the exclusive implementation and go-to-market partner to deploy Finastra’s trade finance solutions in the region, said the company.

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

Both organisations intend to help banks transform and digitise the entire trade finance process, to enable automation, optimisation, faster time-to-market, and reduced customer response times, said the company in a press release.

According to Manish Joshi, Managing Director, Lending, APMEA, Finastra,“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 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.”

The company stated that the Middle East is one of the six focus regions that comprise Wipro’s Asia Pacific, Middle East, India, and Africa (APMEA) Strategic Market Unit.

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